Where have the Social Security funds gone? Why is the pension well going dry? President Roosevelt made this so simple; workers pay in and since the workforce expands with the population growth, the pay in should exceed the pension payout. Add to the fact this money is invested, there is also more money deposited in the reserve. But do you understand really the shortfall is an example of Federal "more is less" economics?
Here are examples of some of the dipping into the Social Security funds to pay without having to repay of government unrelated giveaways; $15M for oversea dairy development; $3M to teach golf to kids in Florida; $50M to build an indoor rainforest in Ohio; a gift of $200,000 to the Rock & Roll Hall of Fame. etc.
There is legislation in progress to create a Congressional Bill to stop all withdrawing of Social Security money except for Social Security pension payments. I have contacted Sen. Todd Young to help make this New Social Security Guarantee Act get passed. If there is resistance by any elected official in Washington D.C. to protect our Social Security pension promise, then the only way is to remove them during their next election.
At the current rate of theft from the fund, I estimate our children will be the first new pensioners to get practically nothing or an empty promise.
Jim Petro, Gary