"Still trying to destroy it!
Social Security is going to start paying out more in benefits this year than it's collecting in taxes -- close to $29 billion more.
WRH's Commentary:
Back in the 1980s, Social Security taxes were raised to build up an intentional cash surplus in advance of the expected impact of the baby-boomer retirements.
But there is nothing in that Social Security trust fund but IOUs, because the Clinton administration spent that cash as general funds to create the illusion of a Federal Budget surplus.
Now the government cannot redeem those IOUs, which means the Clintons looted the pension funds of all Americans, a crime which if committed by an ordinary CEO would land said CEO in prison.
Bill Clinton started the destruction by stealing the Social Security money to balance his budget. Bush joked that all Social Security money were IOUs from the government.
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