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IPFS News Link • Social Security

Rash of retirements push Social Security to brink

The Congressional Budget Office had projected it would operate in the red in 2010 and 2011, but a deeper economic slump could make those losses larger than anticipated.

3 Comments in Response to

Comment by David McElroy
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I am outraged...I've been robbed! I am a 57 year old who has been forced to pay into Social Security (like Medicare) for many years with the promise that these payroll deductions would provide for me in my old age. But Social Security was never a "Trust Fund" as untrustworthy politicians looted it time and time again. The courts covered their asses and ruled the Social Security payments were not the basis of a contract and government could not be held accountable. The government has changed the Social Security rules at will, making this program, like other aspects of citizenship, worthless! They always sell a bill of goods with a cheery line and it is always "bait and switch". They set up a program with mandatory ("voluntary") payments promising to pay us after many years, only to tell us the program is bankrupt and they need more funds. And they have a new program to supplant the "failed" one. They rob us of our funds and demand more, again, and again, and again! IT HAS TO STOP! Prosecute the lying, thieving traitors in the District of Criminals!  

Comment by Lola Flores
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 If the government dedicated only one quarter of the war budget to Social Security, it would be a bonanza

Comment by Anonymous
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Social Security, even in its original form, was doomed to failure from the very beginning.   It is, essentially, a Ponzi scheme.  FDR knew he could not raise more taxes during a depression, but needing money, SS promised to bring in that money to the Govt. coffers and do so without having the TAX label on it.   FDR got the laurels and the people got the shaft.