Money was stolen from social security to pay for our wars, and this is missing from any discussion I

[still_one]

have been hearing from the MSM

[polichick]

1. Both sides are in on the robbery together - that's why you don't hear it.

[still_one]

2. What frustrates me is that there is no real reporting of this from the MSM /nt

[polichick]

3. Of course not - the parent companies want all that SS money to be traded on Wall Street.

[TheWraith]

4. "Stolen" how, exactly? Would you care to elaborate?

Because I think you're confusing "stolen" with "invested in treasury bonds."

[Name removed]

5. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[ashling]

6. As I understand it from what I have read here and elsewhere

the money borrowed from the trust fund was replaced with IOUs, not Tbills. The IOUs cannot be traded like Treasury Bonds

disclaimer: I am not very knowledgeable about this . . . but I did work at a Holiday Inn Express once.

[Laura PourMeADrink]

16. funny ! You are right. Think during the debates on debt someone

suggested we just tear those IOUs up.

[no_hypocrisy]

7. "Stolen" like "misappropriated" and "embezzled".

Think of all the Social Security money collected like it's in a trust account or a trust fund. Segregated and held apart from all other moneys collected. To be used for only these purposes: investment and paying out to beneficiaries.

But instead, the fiduciary (the guardian of the Fund/Account) withdraws the money and reallocates the fund/account and future money coming into the fund/account. And that money is used for another purpose that has nothing to do with the preserving the fund/account. Like paying bills for general accounting purposes.

The fund is greatly diminished and there is no legal remedy to force replenishment and/or repayment of those "borrowed" funds. Congress took the money from Social Security and never paid it back. And part of the reason why there's a debate about cutting back on Social Security is two reasons:

1. To avoid having to replace the money that was improperly removed, and
2. To avoid having to admit what was done in the first place.

[TheWraith]

9. Again, there's no links to back this up.

Please provide credible links. No conspiracy theory websites, please.

[no_hypocrisy]

12. OK. Links.

http://www.usatoday.com/news/opinion/letters/2011-02-25-letters25_ST_N.htm

http://www.ssa.gov/policy/docs/ssb/v46n9/v46n9p13.pdf

http://www.oregonlive.com/opinion/index.ssf/2011/03/social_security_is_proven_and.html

[TheWraith]

13. You're linking to a letter to the editor?`

And one at that which admits that the SSTF consists of bonds. A letter to the editor, a report which is as old as the Social Security Trust Fund itself, and a newspaper op-ed which has nothing to do with the original claim. None of which even remotely back up this conspiracy that the Social Security Trust Fund's bonds are somehow invalid.

Just say "oops" and walk away. :)

[BR_Parkway]

23. I want to ask them how they're going to cover the check that they write us to put our SS money

into our privatized stock market accounts? Seriously, they couldn't cover a $100 million + shortfall in August budget, how the hell are they going to "privatize" SS?

[Uncle Joe]

8. Kicked and recommended.

Thanks for the thread, still_one.

[Bandit]

10. Happened long before any "War" we created, remember Gore's Lock Box

Gore wanted to create a "Lock Box" to protect Social Security from the Congress but he was laughed off the stage over that one.

[indurancevile]

14. as well he should have been.

[Bandit]

20. You don't believe Social Security Funds should be protected???

I think I have to disagree with you...Strongly.

[indurancevile]

22. no, i believe you don't understand how the trust fund works.

all surplus collections are borrowed by the federal government in exchange for us securities. it's always been that way. it's been the law since the beginning of the social security system. Once the federal government in effect borrows the money, it can't "save" it, it can only spend it. Then the US securities are redeemed (repaid) at a later date, supposedly by an America that is more productive, more educated, more technologically advanced because it spent the borrowed social security to develop its infrastructure & people.

Gore's talk of a "lockbox" was disingenuous. He knew very well there could be no such thing. If he'd been a honest player, he would have said, "Hey, why are we collecting so much unnecessary social security tax?" The excess collections begun under Reagan were the real problem. The fact that neither party was talking about *that* tells you something.

The $2.6 trillion in the SS Trust Fund represents the excess money paid in fica (money not required to fund benefits at the time) for 30 years + interest. It is the biggest single item in the federal debt.

BTW, Gore cast the deciding vote in 1993 to increase taxation of social security benefits. At a time when the government was ALREADY collecting plenty of surplus fica taxes. he's not a honest player on this issue. In fact,he's a big hypocrite.

There was no reason to collect the extra money. SS benefits were set up as a pass-through, not an investment fund or savings account. They also weren't taxed until 1983. Another reagan-era "reform" that set the stage for the erosion of benefits & the destruction of the program.

[dtexdem]

11. It hasn't been stolen yet -- it's there in U.S. treasury notes.

But the heist is being openly discussed as partial means of paying off the debts incurred, in large part, by those wars.

Still, we have to be careful to note that the money is still there in the form of U.S. bonds -- let's not downgrade those, nor allow the criminals in both parties to do so.

[wildbilln864]

15. k&r! nt

[lumberjack_jeff]

17. "Stolen" in the same sense that I steal from BoA when I use my credit card?

I, like the federal government, am expected to repay my debts.

[jtown1123]

18. Good point. It wasn't stolen, but if they don't pay back what they borrowed, we're

giving them a pass to default. Say it's an obligation that must be honored.

[lumberjack_jeff]

21. What mean "WE", Kemosabe? n/t

[Uncle Joe]

19. Suppose that you also bought a yacht knowing full well that your income couldn't

possibly support it and you use your new financial hardship to change the terms on what you will pay back to BoA by unilaterally reducing the amount owed on your credit card.

Is that stealing?

[wildbilln864]

24. kick.. nt