Social Security Lockbox

[dellinger63]

Needed ASAP. In 2010 the SS Administration took in $865 billion in taxes (40% of all taxes taken in.) In that same year $701 billion was paid out leaving a possitive $165 billion in the account. Now we are told that account is empty of cash (full of IOU's) and w/o raising the debt ceiling the Gov can't borrow and can't make any payments. Obviously allowing the SS funds to be stolen and replaced with IOU's was a bad deal for those making contributions every paycheck and a bonanza for those who received checks (including Pakistan and Egypt) who contrubuted nothing.

SS needs to be severed from the general fund and what's going on now, seniors worrying about receiving checks they are entitled to should never be repeated.

Guess the Government will have to do without the 40% of SS tax revenue.

The scare tactics being employed are shameful. The government messed up and they should be the ones suffering with the worry of no checks! Pay off all the IOU's owed to the poor seniors before the jackasses on the hill receive anything! And shame on both Reps and Dems for hitting up granny!

BTW the SS Administration is owed almost $3 trillion from the Treasury. The Treasury has a balance of just over $70 billion. So we're actually in far worse shape than portrayed and the last thing we need at this point is to borrow more money!