Replies

By law The SS Administration must "loan" any excess monies to the federal govt. There has been a surplus (more taken in than paid out) every year since the early eighties. All of this has been "loaned" to the feds ($2.6 trillion) in the form of 'special' instruments to be repaid with interest. That is the "trust fund". The problem is that the fed doesn't have the money to make good on the debt.

Also, Flemming v Nestor (SCOTUS 1960), ruled that SS payments are not an entitlement..iow...the feds can stop paying out any time the want.

81 posted on 07/15/2011 8:15:34 AM PDT by wtc911 ("How you gonna get down that hill?")

>>the feds can stop paying out any time the want.<<

Have you been following the discussion kabar and I have been having, and if so, any thoughts on it?

84 posted on 07/15/2011 8:54:26 AM PDT by Norseman (Term Limits: 8 years is enough!)

This ‘law’ is a travesty. If it were researched, I’d bet a Democratic Congress and President were behind it. If if was Republicans, then we are just so f@cked. Our own do us in and we are lost.

87 posted on 07/15/2011 11:34:33 AM PDT by Gaffer

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