A Deficit?

A Deficit?

My friend in Washington sent me an answer to my questions about our
Social Security. Our new congress wants to cut Social Security, pretending it adds to the deficit of our country. There is a deficit all right, to our Social Security. His answer:
“The government still owes the money to the Social Security Trust Fund and is still borrowing more. The Fund currently has a surplus of $2.6 trillion and virtually all that has been borrowed by the Treasury and spent on government functions. The trustees estimate that the fund surplus will grow to $4.3 trillion in the next ten years. That money will undoubtedly be borrowed too. If the Congress and President decide not to pay it back, that would mean the government is defaulting on its most important creditor—American working people. I don’t think they will do that. So they are trying to cut benefits instead.” By the way, did any of you give the government permission to use your Social Security Fund for, their own little slush fund? I didn’t nor did they ask. Actually it is called stealing in our ordinary world of working people. It is a designated fund, not for use in the general fund.

What a bunch of lying conniving con men. Our good old republican politicians keep slinging the propaganda around that Obama and we that draw our ‘entitlement’s that we paid in to are the cause of our total deficit of $14 plus trillion. I know who caused the damn deficit and most of you who are honest do also.

This came from a Republican representative that has been there a long time. Unless you knew as you watched him work for the people, you would not know which party he belonged to he just works for the good of the people. He will be 80 years old March 18 (and ladies he is single). “Members of Congress and other federal employees are covered by the Federal Employees Retirement System, which comprises Social Security payments, a monthly pension based on tenure and pay history, and the Thrift Savings Plan, which is similar to private 402(k) accounts. Members were able to decline to participate in the program until 2003, according to CRS, when Congress prohibited lawmaker’s from opting out. The Members refer to Congress as their “employer,” not we the TAXPAYER. Members each contribute funds to the pension. The Members contribute 1.3 percent of their salaries to the pension program and their EMPLOYER will pay another 17.9 percent of salary costs. Members also pay another 6.2 percent of their earnings to Social Security. Another little goody: Members may contribute up to $16,500 in pre-tax dollars to their TSP accounts in 2011, and they may receive up to 5 percent in matching funds from their EMPLOYER the good old TAXPAYER. Each Member receives 1 percent in matching contributions from CONGRESS/EMPLOYER/TAXPAYER, regardless of whether they contribute.

By the way my friend opted out years ago, but did say too bad, as when he leaves he doesn’t get the great healthcare benefits, but will draw SS and Medicare. But felt the taxpayers are paying his salary and he didn’t think they needed to contribute to the pension. Wonder if the Treasury drew any money from the Members SS Trust Fund? The Congressional pension program is rarely mentioned on Capitol Hill. Lawmakers voted against an automatic, pay raise in the current fiscal year and the House voted last month to cut its office budget 5 percent—how magnanimous of them! “Along with the franking privilege, pensions represent a valuable perk to both political parties that lawmakers don’t want to touch.”