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Don’t let inflation kill Social Security
PRESIDENT Obama and Congress are not the only people in Washington who can add a trillion dollars annually to their liabilities. The trust fund that covers Social Security ended last year with an unfunded liability of $12.3 trillion — up $1 trillion from the previous year. In short, Social Security’s reserves will run dry in 20 years. Read more…
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I suggested to Rep. Upton to create a bill called “Social Security and Medicare Lockbox Laws.” The idea is to create real trust funds for these two systems that block using the funds for anything other than their intended purposes: Social Security for Social Security only (nothing else). Medicare for Medicare insurance only. As it stands now, since 1964 LBJ started using some of the Social Security trust fund interest money to help pay for the war effort. Problem is, once Congress & POTUS got their hands in the pot, they never stopped taking from it. Now, it’s about to go under as a result, plus O-Care takes $720+billion from Medicare to pay for the subsidies for others. If we don’t stop the stealing, they will bankrupt these two systems.
The only way to stop them: Lock them out with Lockbox Laws. Problem is, the Elected in DC have no stomach for this unless we start telling them to do it. Will you help me with this?