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Social Security is slipping closer to insolvency (Welcome to Greece)
LA Times ^ | 4/23/2012 | Noam N. Levey

Posted on 04/23/2012 7:52:01 PM PDT by tobyhill

click here to read article


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To: Terry Mross

I never said all are committing fraud but I have seen the fraud and knows it’s in the millions.


21 posted on 04/24/2012 3:25:06 AM PDT by tobyhill (Fight Fire With Fire)
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To: cpdiii; LoneRangerMassachusetts

“I am aware of this but have never seen the actual numbers”

That’s because no one wants you to see the actual numbers. Welfare “reform” is a mess that both parties deserve some blame for. This link takes you to what I believe is the report that comes closest to pointing out the scam. If you don’t want to read it all, just scroll through the graphs. I love the one that has the notation, “ends welfare” and the line just keeps going. In this report they tried to find every bit of spending that is actually welfare, no matter what it is called.

http://www.heritage.org/research/reports/2010/06/confronting-the-unsustainable-growth-of-welfare-entitlements-principles-of-reform-and-the-next-steps


22 posted on 04/24/2012 5:22:10 AM PDT by I cannot think of a name (NE)
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To: achilles2000

I agree with what you said but I do have one question; before Congress decided to include the payroll taxes as part of the “General Fund”, where did those receipts go?


23 posted on 04/24/2012 5:54:02 AM PDT by evad (STOP SPENDING, STOP SPENDING, STOP SPENDING. It's the SPENDING Stupid)
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To: evad

Treating SS, etc. receipts as a part of the general fund was an accounting trick designed to hide the real deficit numbers because in those years the FICA taxes brought in more than went out in payments to retirees and others. The excess funds were simply spent like any other tax receipts, both before the accounting change and after.


24 posted on 04/24/2012 6:32:59 AM PDT by achilles2000 ("I'll agree to save the whales as long as we can deport the liberals")
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To: GOPJ

Buffet rule to the rescue! /sarc


25 posted on 04/24/2012 8:15:21 AM PDT by corlorde (NH)
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To: achilles2000

excellent..smoke and mirrors 101


26 posted on 04/24/2012 12:40:11 PM PDT by evad (STOP SPENDING, STOP SPENDING, STOP SPENDING. It's the SPENDING Stupid)
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