This has to be coming from pelouse-i and schmuckie’s
proposal they described as “Rooseveltian”... no kidding. Would NOT want to tie my glider to that moniker.
Social Security IS a Ponzi scheme. It has been added to simple beneficiaries with “disability”, when the parents are killed the kids... for LIFE!, and it was billy cokenose clinton who started TAXING the benefits, and then later they split off automatic deductions for Medicare (no choice involved... it is TAKEN out of Social Security.
LBJ was the first to “borrow” money from the “trust fund”-— to put the funds in General Revenue... general damned revenue so he could “balance” his budget with the trust money to pay out the “War on Poverty”. God, what an ass! They’ve come back every year. The entire obiwankenyobi 8 years they NEVER had a budget... just continuing resolutions every one of which increased the “borrow” from SS trust funds.
It is PELOSI— “go big”... the “Heroe’s Act” hazard pay, direct cash payments. No liability protections for employers in all this, too
I want to correct you about LBJ ... the money had always been taken and spend since F-ingDR’s time. There was never a time when it had not been turned over to the general fund.
There were never funds at all held in reserve. The federal pretended that the holder of the bond and the power of the debt could be one and the same since day one ... keeping double books would get you or I put in jail for trying anything like it.
So what did LBJ spend, you may ask.
Well, how about the imputed value on one set of those double books by ignoring the matching obligation on the other which negated it?
Poetically: he spend the same money TWICE.
Realistically he was just creating money from nothing and inflating the money supply without congressional approval.
He did this by ending the F-ingDR era deception that there was a reserve ... at least going forward ... which had he not turned around and double spent could be described as a reform of sorts.
In the past I’ve noted that under LBJ how inflation started creeping up and only came down again once the black ink on the fraudulent balance book ran down when Reagan was President.
I’m not saying that’s the only reason for double digit inflation (government gobbling up capital when the nation was needing to finally retool as aging industrial plants from the 40s and 50s desperately needed replacing played a role) ... but it had to be a contributing cause.