For the last 20 years Social Security has collected billions of dollars in payroll taxes.
Sounds good for your retirement. Do not get excited yet. For the past twenty years, regardless of which political party has been in power, Congress has been borrowing it as fast as it comes in, using Social Security Trust Fund money to hide the true size of the deficit and using the money for every other program, and not Social Security. The Government has now issued a total of 2.5 Trillion dollars in bonds to guarantee what they have taken away from the American people. These bonds are backed by an already broke U.S. Government
The Government owes around 12.5 Trillion dollars, that's 42,000 dollars for every man, woman, and child in this country. 8 Trillion dollars has been borrowed from foreign creditors such as China, the other, over one third of the national debt, 4.5 Trillion has been " borrowed' by Congress from other programs such as social security and used for everything except what the American People were told it was for. 2.5 Trillion is owed to Social Security and another 2 Trillion has been taken " Borrowed" from other retirement trust funds such as civil servant and military retirement..
We as Americans need to realize that our retirement benefits are being looted by Congress for every PET project that comes along.
Our full retirement Thur social security is now not available till age 65, unless of course you were born after 1960, then you wait till age 67. If things keep going in a few more years it will not be available till age 80.
The Government continues to reassure the American people that our retirement is safe, yes it is, as safe as the 8 Trillion we ow foreign governments like China and we are still borrowing more from them every year.
If you or I ran our finances in this manner we would be forced into bankruptcy or in jail, why jail? Because unlike Congress we have to follow the law in our lives, Congress just keeps changing it to fit their needs.
Just an Old Preacher's Opinion
Rev Robert Fuller
