Thursday, July 14, 2011

This lie exposes that lie...

As already noted, the Treasury is not going to run out of money to pay Social Security benefits on August 3, so Obama's threat to seniors is both morally bankrupt and fundamentally dishonest. But Investors Business Daily points out how this specific lie from this specific Democrat reveals that all things that all Democrats have said about Social Security over the years have been lies...
In 1960, the Supreme Court ruled that workers do not have a legal right to their Social Security benefits. Congress can cut them any time it wants, which it's done several times. And, because there are no ownership rights, if you die the day you retire after making a lifetime of payments into Social Security, your heirs get nothing.

Indeed, Social Security's only guarantee is that today's workers will get an incredibly lousy return on the huge amount of money they've "invested" in the program.

And what about that Social Security "Trust Fund" the Democrats rhapsodize about? Isn't it supposed to guarantee benefit payments for another 30 or 40 years?

Truth is, the fund is nothing more than an accounting gimmick designed to make the program look healthier than it is. Obama exposed this scam as well by showing that retirees can't trust the "Trust Fund" for anything
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