But, back in 1964 Social security was so solvent it would NEVER need government subsidies!
http://www.socialsecurity.gov/history/ssa/usa1964-2.html
Self-Supporting
“The program is designed so that contributions plus interest on the investments of the social security trust funds will be sufficient to meet all of the costs of benefits and administration, now and into the indefinite future—without any subsidy from the general funds of the Government.
Both the Congress and the Executive Branch, regardless of political party in power, have scrupulously provided in advance for full financing of all liberalizations in the program.”
AND HERE is where your money went! Read and weep!
http://www.socialsecurity.gov/OACT/ProgData/fundFAQ.html#n4
From the website, “Far from being ‘worthless IOUs,’ the investments held by the trust funds are backed by the full faith and credit of the U. S. Government.”
I feel so much better.