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Official Lies

John in OK Wrote: Jan 30, 2013 6:28 AM
Keep repeating this, Mr. Williams! We would be in good shape relative to entitlements...if LBJ and his Democrat-controlled Congress hadn't decided to break the law and put the Social Security "trust fund" into the general fund so they could spend it on the "Great Society."
Steve in NC Wrote: Jan 30, 2013 8:16 AM
Payroll tax revenues were never sequestered from other tax revenues. The change under LBJ was an accounting detail change only. SS has always been a pay-as-you-go system. Shortcomings of our retirement system were recognized even before we sent out the first benefit checks. We refused to acknowledge these problems.

Let's expose presidential prevarication. Earlier this year, President Barack Obama warned that Social Security checks will be delayed if Congress fails to increase the government's borrowing authority by raising the debt ceiling. However, there's an issue with this warning. According to the 2012 Social Security trustees report, assets in Social Security's trust funds totaled $2.7 trillion, and Social Security expenditures totaled $773 billion. Therefore, regardless of what Congress does about the debt limit, Social Security recipients are guaranteed their checks. Just take the money from the $2.7 trillion assets held in trust.

Which is the lie, Social Security checks must be...