I have followed the SS figures in the World Almanac for many years. The annual extra SS $ which go to the general fund but are credited to the SSTF as new taxpayer debt is automatic. The little booklet, "Your Social Security," told us for many years that any money left over after expenses and paying current retirees goes into bonds. Automatic.
We are talking here of your SS $.
No matter how you might try to justify how the TP benefits by Gov't bonds, internal debt VS external debt, etc. ad nauseam, the fact remains that we paid the $ for our benefit. Billions of words have been written against the Gov't borrowing it. If the TP's had known years ago that the plunder was automatic and that every $ paid in increased the debt of their children and grandchildren, we would not have this type of system today. We would have a real insurance system, whatever the form. Private, or Ins. Co., or a combination. But not a Ponzi Pay as You Go system.
In 1999, we do not yet owe the SSTF $1 trillion. Robt. Rischauer in his position paper to this forum said that in another twenty years we will owe about $4 trillion. Our Congress refers to this as their assets. The tell us it will be paid down to zero by 2032 +/-. They hide the fact that they will have to get those $ from current workers at that time. Or print great gobs of paper money. Or something else, I know not what. But you young people will not like it. whatever it is they do.
The problem has little to do with "boomers" retiring. The dirty little secret is that not one dime has ever been invested for the benefit of the TP. Every $ anyone has ever received has come from current workers.
Real insurance companys are very flexible. Whatever you need. Why should you allow Congress to dictate millions of people to be under one single inflexable plan?
That is a major problem. No more concept of a limited government. New concept; unlimited gov't, limited people.
