The Democrats Prove there is no such thing as a Social Security Trust Fund

Posted by PITHOCRATES - December 25th, 2011

Week in Review

So much for that Social Security trust fund (see The GOP’s payroll tax debacle by Charles Krauthammer posted 12/22/2011 on The Washington Post).

This is a $121 billion annual drain on the Treasury that makes a mockery of the Democrats’ reverence for the Social Security trust fund and its inviolability. Obama’s OMB director took Social Security completely off the table in debt-reduction talks under the pretense that Social Security is self-financing. This is pure fiction, because the Treasury supplies whatever shortfalls Social Security faces. But now, with the payroll tax holiday, the administration openly demonstrates bad faith — conceding with its actions that the payroll tax is, after all, interchangeable with other revenue and never actually sequestered to ensure future payments to retirees.

This is the real reason why the Democrats are so steadfast against privatizing Social Security.  They want that money.  Our contributions to our retirement.  And if we privatize it they can’t spend it.  And if we privatize and die our heirs get our unspent retirement money.  The government doesn’t get to keep it.

The Democrats also love Social Security to scare old people with.  By saying the Republicans want to take it away.  And yet here they are.  The only funding mechanism for Social Security, those payroll taxes, is going on holiday.  The Democrats are defunding Social Security for two months.  Now that means one of two things.  They don’t care about the money being there for our seniors.  Or this 2 month holiday doesn’t amount to much money to either the Social Security trust fund.  Or the economy.

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