How much SS $ has the Government spent?

[tomveil]

Hey guys! I've done a little searching, but nothing that gives me what I want. What I'd like to know is, since the beginning of the program, how much Social Security money has been spent by the government that is NOT related to Social Securtiy?

I know that they've already pissed it all away and replaced it with "IOUs" (LOL), but I can't seem to track down a number of what is actually "owed". Many thanks to you :)

[Yom]

All of it. There's none left. I'm not sure of the shortfall between projected SS income and expenditures, but for SS+Medicare it's some $70 trillion. Bush was claiming $11 trillion for SS a couple years back.

[tomveil]

All of it. There's none left. I'm not sure of the shortfall between projected SS income and expenditures, but for SS+Medicare it's some $70 trillion. Bush was claiming $11 trillion for SS a couple years back.

Well, I realize that it's all gone. But how much is that? Some of that money obviously got spent for what it was supposed to be spent. I know that the shortfalls are coming, but I'd like to back up exactly what I'm talking about with friends using some hard numbers.

[libertythor]

Well, I realize that it's all gone. But how much is that? Some of that money obviously got spent for what it was supposed to be spent. I know that the shortfalls are coming, but I'd like to back up exactly what I'm talking about with friends using some hard numbers.

The consensus is that all benefits paid out now are paid by the younger people paying in now and then some! Look up Social Security debt or deficit. That will give a picture.

[lost_in_samoa]

..

[2orb]

It's basically a Ponzi Scheme.

http://en.wikipedia.org/wiki/Ponzi_scheme

[tomveil]

Here's something from 2005 (buried in another article)

"Chapman opened the second drawer and pulled out a white notebook filled with pseudo Treasury securities — pieces of paper that offer physical evidence of $1.7 trillion in treasury bonds that make up the trust fund."

This is money that's already been spent that shouldn't have been. Sound about right?

[tomveil]

It's basically a Ponzi Scheme.

http://en.wikipedia.org/wiki/Ponzi_scheme

Well, my thinking is that SS would have been fine if the Government had just kept their money grubbing fingers off of it. Of course, they couldn't, so now we're stuck with the reality of that situation.

[davidkachel]

If a publicly held corporation did exactly the same things with the company's money that Congress is doing with our money, every last executive in that corporation would go to prison.

The basic philosophy of both parties is this: if you enact a law that says it's OK, you can steal as much as you want and give any excuse you want.

SS money goes directly into the communal pot. It is not set aside in any way shape or form. Just think of the federal government as a thief who sticks his hand into every pocket you have, but then shoves everything he steals into one big bag.

[Bossobass]

Here's something from 2005 (buried in another article)

"Chapman opened the second drawer and pulled out a white notebook filled with pseudo Treasury securities — pieces of paper that offer physical evidence of $1.7 trillion in treasury bonds that make up the trust fund."

This is money that's already been spent that shouldn't have been. Sound about right?

Yes.

Bosso