Surplus?
I need to expand the Lady Logician's column about the Social Security surplus: There is no surplus- by law. There is only a number of zeroes to the left of the decimal point in an accounting entry somewhere in Virginia. That shows how much of the surplus has been used to buy a very specific government bond that only the Social Security Administration can buy. That money has gone to the Treasury and has been counted as "revenue" not a liabilty. The suplus has been gone for decades. There is no lock box. All that went away over 40 years ago thanks to LBJ and the complicit Democrats and never corrected by the Republicans in the last 11 years.
I've blogged on this a number of times: here and here for example just to name two.
It ain't going away. And Medicare adds $4,000,000,000,000 to that debt each year. And 2% for a private retirement account? Paintballs at a charging RINO. Won't even slow it down.
Read this article and know AGAIN why politicians can never, ever be trusted with power or the money confiscated by its use and abuse.
"The only way to be sure government never abuses power is not to give it any."
posted by Amendment X at 12:31 PM permalink
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