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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Bread Upon The Water who wrote (74757)	5/14/2010 1:01:15 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 149317

Yes. That was his point. Mine was if it was then SS would be fine. I maintain SS contributions weren't therefore SS is short. Either that or our fearless leaders are just liars....

To: Bread Upon The Water who wrote (74757)	5/14/2010 11:35:36 PM
From: J_F_Shepard	Read Replies (1) \| Respond to of 149317

"http://en.wikipedia.org/wiki/Social_Security_Trust_Fund "The Social Security Trust Fund is the means by which the federal government of the United States accounts for excess paid-in contributions from workers and employers to the Social Security system that are not required to fund current benefit payments to retirees, survivors, and the disabled or to pay administrative expenses. More important, the trust fund also contains the securities that will be redeemed to make benefit payments in the future when contributions derived from payroll taxes and self-employment contributions no longer are sufficient to fully fund then-current benefit payments. (The controversy over its meaningfulness is a topic of the sustainability of the unified Federal budget.) Paid-in contributions that exceed the amount required to fully fund current payments to beneficiaries are invested in securities issued by the federal government. The securities issued under this scheme constitute the assets of the Social Security Trust Fund. Because under current federal law these securities represent future obligations that must be repaid, the federal government includes these securities within the overall national debt.[1] The portion of the national debt that is not considered "publicly held" represents the obligations incurred by the government to itself, the bulk of which consists of the government's obligations to the Social Security Trust Fund."