Let's Get Down To Brass Tacks... WHY... Would Barack Obama, And Fellow Dems Support The...

[CrispyQ]

85. SS is not running out of money.

If SS is in such dire straights, then the federal govt should pay back what they've borrowed from it. Point is, they don't want to!

Social Security -- the most fiscally responsible program

http://www.huffingtonpost.com/sen-don-riegle/post_1901_b_845106.html

snip...

Social Security is self-financed, cannot borrow, spends less than one percent on its administrative costs, has a $2.6 trillion surplus which will continue to grow for a number of years, and is off-budget. It does not contribute to the federal deficit or the debt. The Social Security surplus is invested in US Treasuries which enables the federal government to borrow less from other sources. The government borrows these Social Security funds to pay for other government spending -- but is obligated to pay interest on these borrowings -- and pay back the borrowed funds in full when they are needed by Social Security for benefit payments.

more...

Pay Back Social Security -- The Government Has Borrowed More from Social Security than any Other Entity or Foreign Government

According to the U.S. Treasury Department's "Monthly Statement of the Public Debt of the United States" (9.30.10), the total debt was $13.562 trillion and was held as follows:

US Holders of Debt
42.1 % -- US Individuals and Institutions
17.9 % -- Social Security Trust Fund
6.0 % -- US Civil Service Retirement Fund
2.1 % -- US Military Retirement Fund

Foreign Holders of Debt
11.7 % -- Oil Exporting Countries
9.5 % -- China and Hong Kong
6.3 % -- Japan
1.4 % -- United Kingdom
1.3 % -- Brazil
1.6 % -- All other foreign countries