RE: Will Congress answer the public's call for action?
Date: Wed, 28 Apr 1999 18:10:47 -0400 (EDT)
From: James <jamesk_51@hotmail.com>
Subject: RE: Will Congress answer the public's call for action?
>From: Robert MacDonald
>>>>BTW, why has this Clinton purposal earmarked 77% of the surplus for the Trust funds? Hasn't those funds been earmarked for the trust funds before and hasn't those IOU's contributed to the very problem we now face?? In addition, why isn't it 100%. Those funds belong to SS and not the general budget!
The 77% is concerned with the projected 'unified' budget surplus anticipated over 15 years. No, we have not invested 'unified' surpluses in SSTF bonds, only the SS FICA 'excess', and those 'IOU's' are not the source of any SS problem.
>>>>In order to safeguard those funds for SS we need to place them where politicians can not get their hands on them. Social Security and the American taxpayer have funded enough pork for this century!
So, under the current system, where would you have had the gov't invest the funds?