The Dems False Social Security Narrative
Social Security was supposed to be a program where people paid in, and growth of their funds over time resulted in a reasonable pension. Instead, by giving people more than entitled, it stole money from new people contributing to the system. By continuing this overpaying, it forces the younger people to get a smaller and smaller return on their contributions, even now negative, and even that will be reduced more when the system goes bankrupt in a few years. By not fixing the system now, it continues to pillage the newer entrants. Yet Democrats argue, in their absolute ignorance, that reducing the future growth is cutting benefits, while in reality is restoring the money to the people who have been pillaged.
Giving additional benefits to retirees is really the opposite of what we should do. Those who reach 67 need to be strongly encouraged to continue to work. It is not realistic – in fact, it is not possible – for an average person to accumulate sufficient retirement benefits during a working life of, say, from 22-67, to be able to receive retirement pay from 67 to 90 or more.
Our Social Security System is bankrupt. In fact, there is not enough money in the entire world for the United States to make good on its entitlement promises to its present and future retirees.
We need to be including in our current budget the amounts we are promising to pay in the future. The promises that we’ve made in the past — what we are paying out today — are not a part of this year’s costs; these are old liabilities and are part of our already existing debt. The US debt is currently $31 Trillion. When the real social security debt is added, the true National Debt becomes at least $70 trillion.
It is clear that these promised benefits have zero chance of ever actually being paid. And the longer our legislators allow this fraud to continue, the worse it will be for ourselves, our children, and our grandchildren.