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  • RoadRunner

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    Jan 30, 2018
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    Fishkiller

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    Frederickburg
    The SS Trust fund is owed something like 2.6 trillion dollars from the federal govt. in the form of Treasury Bonds. LBJ was the first to "borrow" from the fund. He had to pay for the Vietnam War. Every administration since has borrowed from the fund. And yes the debt would be way larger, if the trust fund was operated as it should be.
     

    BMF500

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    Aug 21, 2019
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    Actually the debt would be bigger without SS. And the yearly deficit only went red in the last few years. So for most of SS dating back to the 30s, SS was a tax that helped balance the budget.
    Uh...NO!!!!! It was started by FDR (with FICA as a means to fund it, among other federal needs) as retirement benefits for workers and financial assistance for those starving during the great depression with the "New Deal". Reagan introduced SS specific withholding and at that time FICA became dedicated to funding the US govt. Since the SS specific withholding came about, no, it has nothing to do with the deficit other than the fact that the deficit figures are deflated because the current publicized $ amount does not reflect the $2T+ debt the general fund stole from and owes the SS trust fund. FICA has always existed to fund the general budget, SS has never.

    **edit:scattered thoughts**
     
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