Robert Christian Show©
Social Security, What the Truth is We must know
The idea the Republican lawmakers have that Social Security is going broke is quite alarming. While this is the furthest thing from the truth. It does however pose questions that every American needs to be asking.
With a rising number of retirees and the drop in the birthrate, this all is changing. At Present, the latest projection has that combined Social Security trust funds that pay retirement and disability benefits running out of cash reserves by 2034. This will not leave Social Security bankrupt nor to prevent the program from paying any benefits, even if congress does nothing to shore up the system.
Since its creation in the 1930s, the Social Security trust fund has never been part of the general fund, so politicians have not been free to spend the money on pet projects
Actress Rosemary Alexander from the new film “A very sordid Wedding” and “Sordid lives” joins Robert Friday for a funny interview that will surely leave you laughing. Tune in via our live-page 3PM Pacific!
Be watching for more!
According to the Washington Times report, The Retirement nest egg of an entire generation is stashed away in this small town along the Ohio river to the tune of 2.5 Trillion in IOU’s from the Federal Government, payable to the Social Security Administration. It is time that Social Security begin to cash in these IOU’s. Congress and the Senate have allowed many governmental offices to take from Social Security as it it were a slush fund for the grabs.
In Short, the Solvency of Social Security is in the hands of the federal government. The 2.7 Trillion of that money was taken by governmental and spent for non Social Security purposes. The Spent money was replaced with Government IOU’s, called Special issues of the Treasury.
In History, President Bill Clinton’s 2000 budget proposal included a statement of just what the IOU’s actually were.
Stating ” The Social Security Trust Fund does not consist with real economic assets that can be drawn down in the future to fund benefits. Instead, they are claims on the Treasury that when redeemed will have to be finances by raising taxes, borrowing from the public or reducing benefits or other expenditures.” Further, the 2.7 Trillion dollars taken from Social Security trust fund and spent for non Social Security purposes must be repaid. All of the money does not have to be repaid in one lump sum, as it can be repaid in installments over a 15 year period.However the repayment must be guaranteed. If the government paid it’s debt to Social Security there would ne no short-term Social security solvency problem.
Now comes the Republican plan. To more less force Social security to forgive the debt of the government, thus insuring it is wiped out. They fail to realize however that the President Ronald Reagan admitted that Social Security has nothing to do with the national debt. Why then are our leaders in the houses taking cash from Social Security? Simply put because they can.
If you owed Social Security money due to overpayment, or in Taxes you would be forced to pay it back. They would in fact take the money due before you get any future payment from them.
Why isn’t this the case with these government offices that have taken from this and have not repaid it?
We the American people put our dollars into this program, so when we retire we can draw benefits from it.
Trump had promised he would leave Social Security alone, while this now according to his own budget proposal is not the case at all. Cut’s to Social Security are going to leave millions of Americans unable to pay their own bills, Rent, gas, much less food. It would in fact cause millions to the street, if they cant afford Rent.
It would force Seniors living in assisted living to move out because there would be no way to pay the centers for services.
It would cause the greatest man made financial disaster in American history, and potentially far worse than the great depression.
This simply can not keep going like this.
Do you believe the Truth? or do you prefer to believe a slanted view short on facts?
I am so happy that you present a solid approach to news, and ideas. It is hard these days to find websites and a show like yours that do tell the truth. It leaves many wondering and in question. Thank’s a million!
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