Too Many Lies

And other misdemeanors.

Monday - February 14, 2011
A few weeks ago I heard a Democrat Representative from Tennessee say that if you tell a lie often enough many people will believe it. That surely must be what is going on in Washington by both Democrats and Republicans with the news people throwing in their two cents worth. I thought I had already included the law passed by a bi-partisan congress in 1990 which outlined how surplus money in the Social Security Trust Fund (FICA tax) is to be used but a quick scan of earlier postings failed to turn it up. I am including it here.

The Social Security Trust Fund is the means by which the Federal Government accounts for excess paid in contributions from workers and employers to the Social Securitry System that are not required to fund current benefit payments to retirees, survivors and the disabled or to pay Administrative expenses. These surpluses are invested in "Special United States Government Securities". The Trust Fund is "Off Budget" and treated seperately from other Federal spending. From the United States Code; Exclusion of Social Security from all budgets, Pub.L 101-508, Title X111, Sec. 13301 (a), Nov 5, 1990, 104 Stat: 1388-623, provided that notwithstanding any other provision of law, the receipts and disbursement of the Federal Old Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund shall not be counted as new budget authority, outlays, receipts, or deficit or surpluses for purposes of (1) the budget of the United States as submitted by the President, (2) the congressional budget or (3) The Balanced Budget and Emergency Deficit Control Act of 1985.

There it is. You decide who is telling the truth.

Tuesday - February 15, 2011
A few days ago I sent the following e-mail to one of my United States Senators. "In the last few weeks I have contacted both [one of my Senators] and [my Representative] to no avail. I would very much like to know why Social Security and Medicare gets all the blame for the budget deficits. From everyone on television I hear statements like - We can't balance the budget without cutting Social Security and Medicare or - The entitlement programs make up 40 percent of the budget. By all means, reform Social Security and Medicare to ensure that it will be there for future generations but you know, as well as I do, that except for Treasury borrowing money to buy back some of the IOUs in the "Social Security Trust Fund" to pay future benefits it has nothing what-so-ever to do with the budget or deficits. Anyone who says that we have to cut Social Security and Medicare to balance the budget or even lower the deficit is just blowing smoke and you, being from Tennessee, know[what] I am talking about". (Brackets [ ] are where edited to exclude names)

Yesterday I got this response from that Senator but I don't think it addressed my concerns. " Thank you for getting in touch with me and letting me know what's on your mind regarding Social Security.
I will not support any proposal that reduces the guaranteed Social Security benefits on which our nation's seniors depend. Seniors rely on their monthly Social Security check. Long-term projections warning that Social Security expenses will eventually exceed the program's income have prompted Congress to discuss ways in which the system can be reformed so that it will continue to provide the benefits guaranteed to present beneficiaries while remaining strong enough to provide benefits to the next generation of retirees. As long as we do not undermine these guaranteed benefits, I'm open to considering pilot programs that allow workers to manage their own retirement funds, create individual security accounts, and fund individual retirement accounts that individuals control themselves."

Wednesday - February 16, 2011
It is my belief that the above e-mail is a form letter sent to anyone who happens to inquire about Social Security. Maybe all that talk about cutting Social Security and Medicare really is a smoke screen designed to get the general public numbed down to the point that we won't realize what is happening so when they let America go bankrupt they can say; But we didn't cut Social Security or Medicare, and get away with it. Is it working?
A final word to the powers that be. At this time there is two and a half trillion dollars worth of IOUs sitting quietly in the Social Security Trust Fund that over the next several years will need to be redeemed to pay Social Security and Medicare benefits. When that becomes necessary it will raise the National debt even higher than it is now. Is that what you are afraid to admit?
Thanks for your time and input. Stay tuned - William