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To: Amos the Prophet
There is no fund and you have no accrued account.

I'm quite aware of that fact. No private property rights attach to the "fund" as per Flemming v. Nestor. However, I do have a political right to the money, just as much as any other citizen. More so, in my opinion, since I helped fund it.

What it boils down to is there will only be a political solution. And I intend to fight for my interests.

92 posted on 05/09/2007 8:19:04 AM PDT by abb (The Dinosaur Media: A One-Way Medium in a Two-Way World)
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To: abb
However, I do have a political right to the money, just as much as any other citizen. More so, in my opinion, since I helped fund it.

Congress can change the rules and has so there is no social contract or rights of any kind to receive benefits. When I first paid into the system, the retirement age was 65, now it is 67. SS is a pay as you go system so whatever is paid in by you now is automatically paid out to those collecting benefits. Any "surplus" is used by the USG as part of general revenue. The SS Trust Fund receives an IOU for the "surplus" in the form of non-market T-bills. The SS Trust Fund represents an unfunded liability and is part[about 40%] of our current $9 trillion debt. It is held as "intragovernmental holdings."

99 posted on 05/09/2007 9:18:46 AM PDT by kabar
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