Originally written on 2015 August 2
Here we go again.
Baby boomers have heard this story their entire lives. And every time Congress found a way to “fix” Social Security; that is, kick the can down the road. This time the day of reckoning is not off somewhere in the lifetime of the next generation, but at the very time when the baby boomers will be at their most vulnerable.
I still don’t understand this talk about “trust funds.” There has never been a Social Security or any other “trust fund.” It’s always been pay as you go; that is, current workers paying into the system to support current retirees. No bank and no account has ever been identified to show where the supposedly separate monies are kept, not the feds’ money and not yours either. The pay-out has never been limited to or based on what you paid into it; your money was never invested in anything to make it grow. Your money went to pay your parents and grandparents. The federal budget has been “unified” since Nixon; that is, Social Security and all other welfare programs are coming out of general revenues, without any pretense other than a line item in the federal budget. The “unified budget” was a piece of long-delayed honesty that put an end to the practice by Congress to “raid” or borrow from the Social Security “trust fund” in order to balance the general budget. It made about as much sense as saying you “raid” your food budget to put gas in your car. But the pretense reassured the ignorant fools that their money will be there when they need it.
So now the worry is that soon the “entitlements” will consume 100% of revenues? Don’t worry, they’ll just raise taxes or print more bogus money or both, as they’ve been doing. 0bamacare is already forcing drastic changes in Medicare, too. The death panels — rationing and denial of care — are already on their way to being well established, as they are in Britain and as they were in the USSR. Our benefactors are just a bit more sneaky and let the insurance company tell you that they won’t pay for certain treatments. Their policies are also creating a shortage doctors. The ideologues of the Left have declared that old people have a duty to die, and they are doing what needs to be done to leave no other choice.
Failing that, they can always let Iran have nukes so someday they will do some “urban renewal” in our cities and reduce our welfare burden that way.
See? Problem solved… See you on the other side.