Neither Social Nor Secure!

The most important thing I can do today, Veterans Day, is to honor the service of our veterans. God bless you brave and patriotic souls and your efforts to keep our country free, and a heart felt thanks for your sacrifice!

Now on to today's topic! Has anyone else wondered what happened to the Social Security program's solvency? Here's the skinny....


The National Commission on Social Security Reform (informally known as the Greenspan Commission after its Chairman) was appointed by the Congress and the President in 1981 to study and make recommendations regarding the short-term financing crisis that Social Security faced at that time. Estimates were that the Old-Age and Survivors Insurance Trust Fund would run out of money possibly as early as August 1983. This bipartisan Commission was to make recommendations to Congress on how to solve the problems facing Social Security. Their report, issued in January 1983, became the basis for the 1983 Social Security Amendments which resolved the short-term financing problem and made many other significant changes in Social Security law.

Alan Greenspan, of George Bush fame, was appointed by Ronald Reagan, and this led to the Social Security Reform Act of 1983 which basically legislated this.....

Social Security surpluses were required to be added to other revenues,(like income tax), rather than put into the famous "lock box" for future payouts. So the "trust fund" the government was responsible for was spent like pocket change. President Bill Clinton enjoyed the surplus generated by the fund to create his record surplus budget he's so proud of taunting. While it worked when the pay In's exceeded the pay outs at some point that was bound to turn itself around. Social Security now commands 738 billion dollars annually to meet the shortfall. Note: That's 738 billion that was already supposed to have been paid for and set aside!

The whole thing stinks as it was used by politician's with a yellow streak up their back to avoid telling the American people they were raising taxes. Now we have an unfunded mandate. Mandatory spending created by politicians who kicked the can down the road.

God Bless!
Capt. Bill