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IPFS News Link • Social Security

Social Security Entitlements – Broke: The Big Lie

•, By Helena Glass

Total collections for FY 2023 were $2,735,301,000,000 on disbursements of $1,433,349,000,000.   Why is this notable?  Because the SS Administration does not recognize payments into Social Security as a loan or debt earning interest and payable to Taxpayers – The Big Lie.  

Our Government is claiming that Social Security is in fact – a Tax and accounting for it on that basis.  Technically, they should be stewards of money on loan and instead they are making a profit – $1,301,952,000,000.  ALL Taxpayer Funds (less Operating Administrative costs) are invested in nonmarketable Treasuries.  The interest on Federal Treasuries rivals that of a CD at 3.5%.

According to a Footnote to the Financials:  "Accounts receivable from the public consists of monies due to the SSA and to beneficiaries in excess of their entitlement, as well as amounts due from the states to cover underpayments to the recipients".  In addition upward of $500 billion of CoVid loans that were cancelled – were written off against Social Security.   Of that, the Small Business Administration (SBA) estimates that $200 billion in forgiven PPP loans were given 'fraudulently' – 40%.   How lovely….

IF you had invested $100 in the S&P in 1980 (as savings) it would be worth $12,097.47 with an average annual return of 11.61%.  Essentially giving the government the difference in value of 8.11% (11.61% – 3.5%).  Play money for them – debt for you.  And this doesn't even touch the COST for the government to administer your annual loss.   In the real world – this mismanagement of funds would be a lawsuit.

Last year, the Social Security Administration determined that inflation was 3%, therefore your benefit payment rose by just 3%.   This is the data released to support the current rate of 3.8%:   Food up 5.5%, shelter up 5.7%, vehicle insurance up 20.6%, medical up 1.4%, recreation up 2.1%, electricity up 3.6%, utility cost down 8.2%, gasoline down 3.9%, fuel oil down 5.4%, and personal care up 4.2% = net up 22.3%   Common Core Math.