Muscatine

It Isn't....

Posted in: Muscatine
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  • gohawks
  • Respected Neighbor
  • Muscatine, IA
  • 132 Posts
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To what bill are you referring?  Social Security became part of the "general fund" under LBJ to make the budget deficit appear smaller so as to hide the true cost of  Vietnam.  That was how the rape began.

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  • hiroad
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  • The Hilltop
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Thats why he signed the bill allowing congress to rape the social security funds.  Really wise?  

No.....You are lying again.  (You must think that if you tell enough lies, some will eventually be believed????):

 

Q1. Which political party took Social Security from the independent trust         fund and put it into the general fund so that Congress could spend it?

A1:There has never been any change in the way the Social         Security program is financed or the way that Social Security payroll taxes         are used by the federal government. The Social Security Trust Fund was         created in 1939 as part of the Amendments enacted in that year. From its         inception, the Trust Fund has always worked the same way. The Social Security         Trust Fund has never been "put into the general fund of the government."      

Most likely this question comes from a confusion between the financing         of the Social Security program and the way the Social Security Trust Fund         is treated in federal budget accounting. Starting in 1969 (due to action         by the Johnson Administration in 1968) the transactions to the Trust Fund         were included in what is known as the "unified budget." This         means that every function of the federal government is included in a single         budget. This is sometimes described by saying that the Social Security         Trust Funds are "on-budget." This budget treatment of the Social         Security Trust Fund continued until 1990 when the Trust Funds were again         taken "off-budget." This means only that they are shown as a         separate account in the federal budget. But whether the Trust Funds are         "on-budget" or "off-budget" is primarily a question         of accounting practices--it has no effect on the actual operations of         the Trust Fund itself.

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  • mallory
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  • USA
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hiroad,

First thing you got right in a long while.   I congratulate you.   So many fall for the scare tactic of saying the government is spending the SS trust.   You didn't.   Good going.

hiroad,

First thing you got right in a long while.   I congratulate you.   So many fall for the scare tactic of saying the government is spending the SS trust.   You didn't.   Good going.


Except that hiroad has been right about you all along....

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