The Social Security Trust Fund Has $2.5 Trillion On It's Balance Sheet
Don’t let the politician fool you. The Social Security Trust Fund is awash in money.
Since the inception of Social Security, the fund has received $13.8 trillion in funds.
http://www.ssa.gov/history/hfaq.html
(see Q25)
And since it’s inception, it has paid out $11.3 trillion
http://www.ssa.gov/history/hfaq.html
(see Q24)
And it you look a page 3 of the balance sheet
http://www.ssa.gov/policy/docs/chartbooks/fast_facts/2010/fast_facts10.pdf
you will see that in 2009 the government took in $807.5 billion, and paid
out $685.8 billion, leaving a surplus of $121.7 billion!
And, the balance sheet shows the fund has $2.54 trillion in the account.
So, tell me this politicians. How is Social Security a burden on the economy,
much less responsible for our national debt?
And I haven’t even addressed the 6.9% interest that is supposed to
be accrued on the fund, by law.
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Whistler Blowers, Insiders
you are high! take your head out of the sand. there is no money! aircraft carriers, f-35s, hurricanes andrew, katrina and ivan? Iraq and afganistan? most social security goes to people who pay NOTHING into it !for 50 years ! The govt prints this crap because someone gets paid to type it !!!!
TomCollins is correct. Your math isn’t based on the fact that Congress has used SS funds as it’s personal checking card. Since math isn’t any crackheads strong suit, please check with the CBO. They do math for a living.
“According to new projections from the Congressional Budget Office, Social Security will officially go bankrupt this year, paying out $45 billion more in benefits than it takes in. Until now, Social Security defenders have briskly assured us this would not happen for twenty or thirty years, but those who ignored the political spin and looked at the actual numbers knew it was coming much sooner.”- 01/27/2011
Which means, since we have no money to pay into it, the Federal Reserve will have to generate more fiat currency, increasing the rate of inflation even more.
Getting your facts from Social Securities own site is like finding a family man on craigslist gay personals. It’s possible, but only if you bought the London bridge last month.
I wish!
I’m posting what the SSI is putting on their balance sheet.
Now, if a politician is saying social security is drag on the system, where a they getting their numbers. It sure ain’t from
the SSI published budget.
You dig?
@ HDThoreau.
Don’t you get it? Us in the private sector. Not only do we pay for the government workers wages, pensions, health care, but when we try to put a little aside for ourselves (SSI) they raid that first, and give themselves nice fat bonuses, new weapons, etc.,
Look at Denver’s new state of the art 60,000 sq ft crime lab that is shaped like DNA, and cost $33,000,000, if you don’t count the yield on the bond.
http://denver.yourhub.com/Denver/Stories/News/Government/Story~960394.aspx
But social security, which all of us private sector schmucks paid into (30 yrs for me now), is a burden?