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To: kabar
What they haven't told you and they never mention is that prior to the Johnson admin. there actually was a trust fund and SS wasn't in the general fund. Congress, seeing the build up of cash in the trust fund in the fifties wanted to get their hands on it then. But, they knew Eisenhower would never allow it.

Then along came Johnson and a Democrat controlled Congress. The trust fund was disbanded and the funds moved into the General Budget. Then it was Katy-Bar-the-Door. The built up funds were gone through like a dose of salts through a cow.

And, ever since the Seventies they have used the surpluses generated by SS deductions from payrolls to apply to the deficit cause by the over spending.

Give us back the IOU's and then we will see what the system looks like then.

13 posted on 12/09/2010 8:08:52 PM PST by Parmy
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To: Parmy
Give us back the IOU's and then we will see what the system looks like then.

We don't have $2.6 trillion to give back. And the Ponzi scheme called SS is unsustainable. In 1950, there were 16 workers to every retiree; today there are 3.3; and by 2030 there will be two.

14 posted on 12/09/2010 10:40:15 PM PST by kabar
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