Social Security - another "Bailout" in the making?
Jim Brown - OneNewsNow - 8/27/2009 7:20:00
Worried about bills & money, a conservative congressman warns that another taxpayer bailout is likely if the government has to start putting money into the Social Security Trust Fund instead of borrowing money from it.
Earlier this week, the Social Security Administration announced it plans to cancel annual cost-of-living adjustments for the next two years, which means senior citizens will receive less money in that time period because their Medicare premiums will still increase.
Congressman Spencer Bachus (R-Alabama) predicts that the Social Security Trust Fund could be running a deficit as early as next year.
Rep. Spencer Bachus (R-Alabama)"[This development comes] at a time when...the federal government is having to constantly increase spending for [Medicare]; when we've expanded SCHIP, which is a children's healthcare program; when we've added new healthcare benefits for the unemployed, all of which jeopardize those who are paying into Medicare and their benefits," he points out.
"And then along comes Social Security," Bachus continues, "and instead of it being a revenue generator and the federal government taking that money to apply on the deficit, we may have to start putting money into Social Security a lot sooner than we thought we would."
Bachus says lawmakers on Capitol Hill need to address the impending Social Security crisis before the Trust Fund goes in the red.
Question:
For a couple months now I have been trying to get Answers from "Obamites" on "How the Obummer Health Care Plan" will be better Run than what we already have (Medi-Care / V.A. Hospitals etc.) and in the "Discourse Exchange" I haven't gotten any "Answers". I have stated the IRREFUTABLE FACTS showing how Social Security was started as being "Voluntary" & the "Funds Invested" were kept out of the "General Fund" where it actually "Made Dividends & a Surplus"!!! I also pointed out the the "Clinton Admin." passed Legislation changing the "Terms" of S.S. making it "MANDATORY NOW FROM BIRTH" to be enroled into "S.S. SLAVERY" & then "Stole the Surplus Funds" saying that we should not worry as it will be paid back with "Intrest"!!! "Checks in the Mail"!!! RIGHT!!! Now, as ALL CAN SEE there is a "Threat" being made to SCARE INTO PASSAGE THE OBUMMER HEALTH CARE PLAN JUST AS IT IS!!! So, does it make ANY sense to spend EVEN MORE ($1.6 TRILLION ) MONEY to throw after a "SELF MADE, DONKEYCRAT DISASTER" & EXPAND THE COVERAGE AREA MORE, WHEN THEY CAN'T KEEP THE PROMISSES THEY ALREADY MADE??? All may Answer, but I'd like to hear how Obamites "Twist" this one as they haven't answered the other Q's I asked.
John