My understanding of Social Security is that it is funded through an automatic withdrawal from my paycheck (and the paycheck of anyone else getting paid above the table). This money is put into the Social Security Trust Fund. Payments to beneficiaries of the Social Security Trust Fund come from the Social Security Trust Fund and not from the Government’s General Operations.
The President has threatened that he won’t be able to send out Social Security checks due to the impending debt limit ceiling crisis. But there is no debt within the Social Security System. So, where did the cash that I paid into the Trust Fund go?
Democrats & Republicans, alike, have been robbing the Trust Fund to pay for General Operations above and beyond tax receipts and debt issues for decades. The Social Security Trust Fund has no money in it because of legislative raiding. Now the President threatens senior citizens because he & his ilk have raided the Fund.
The 2008/2010 electoral waves have only just started…