Over the last 25 years, Congress has "borrowed" (stolen) $2.2 Trillion from the Social Security Trust Fund. Not one penny has ever been repaid. This year (2008), Congress will "borrow" an additional $90 Billion from the Social Security Trust Fund - that is $171,000 every minute of every day.
President Bush has stated that "All that's left in the Social Security Trust is a cabinet full of IOU's" (June 3, 2005, The New York Times).
A Washington Post Poll, February 10, 2005, found that 90% of the American people know that a reason "the Social Security program faces financial difficulties" is that "Money in the Social Security Trust Fund is being spent on programs other than Social Security."
in his book, The Looting of Social Security, (2004, Carroll and Graf Publishers), Allan Smith, PH. D., explains why the IOU's in the Social Security Trust Fund are worthless. Simply put NO money has EVER been placed in the Social Security Trust Fund. Therefore, there is No money that can be withdrawn - it is simply an accounting gimmick.
It is time for Congress to pass Legislation to stop the "borrowing" (stealing)
from the Social Security Trust Fund.
You do not
need to be a