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» Glenn Beck Distorts Social Security:

Glenn Beck Distorts Social Security

Posted by on April 3, 2011 at 10:25 am.

 

Old-Age, Survivors, and Disability Insurance
(Amounts in billions) Fiscal year Total income Total outgo Net increase
in assets Assets at end
of fiscal year
Year Income/ Expense/ Surplus/ Fund Total
1987 226.9/// 207.3///// 19.6//////// 65.4
1988 258.1/// 219.3///// 38.8////// 104.2
1989 284.9/// 232.5///// 52.4////// 156.7
1990 306.8/// 248.6///// 58.2////// 214.9
1991 322.6/// 269.1///// 53.5////// 268.4
1992 338.3/// 287.5///// 50.7////// 319.2
1993 351.4/// 304.6///// 46.8////// 365.9
1994 376.3/// 319.6///// 56.8////// 422.7
1995 396.3/// 335.8///// 60.4////// 483.2
1996 416.1/// 349.7///// 66.4////// 549.6
1997 446.6/// 365.2///// 81.3////// 630.9
1998 478.6/// 379.3///// 99.3////// 730.2
1999 514.7/// 390.0///// 124.7//// 854.9
2000 561.3/// 409.4///// 151.8//// 1,006.8
2001 595.9/// 432.9///// 163.0//// 1,169.7
2002 615.0/// 455.9///// 159.1//// 1,328.8
2003 630.3/// 474.7///// 155.5//// 1,484.3
2004 646.6/// 495.5///// 151.1//// 1,635.4
2005 696.8/// 523.3///// 173.5//// 1,808.9
2006 733.7/// 548.5///// 185.2//// 1,994.2
2007 771.8/// 585.3///// 186.5//// 2,180.6
2008 802.7/// 617.0///// 185.7//// 2,366.3
2009 807.0/// 669.7///// 137.3//// 2,503.6
2010 788.0./// 706.3///// 81.7//// 2,585.3
Glenn Beck continues to distort the facts. After spending some time checking into the Social Security program, I have discovered that the truth is that the money in the Social Security Trust Fund is enough to keep the program going for a long time. Certainly, total economic collapse could ruin Social Security but to say Social Security is causing huge budget deficits is a blatant lie. The amount of contributions to the program have been more than enough to keep it fully funded. The 1983 Greenspan Commission and subsequent changes made law in 1984 provided for adequate funding of social security. In fact from an actuarial basis, the contributions paid into social security were and are, more than enough to keep Social Security solvent for many years to come. Those EXCESS contributions have led to a 2.6 trillion dollar Social Security Trust fund. Social security is NOT draining the treasury. The U.S. government HAS stolen money from the fund to finance bankster/corporate bailouts, phony corporate wars and phony homeland security. THOSE ARE THE FACTS! Certainly, the solvency of Social Security needs to be reviewed from time to time. The value and even the constitutionality of social security may be debated, but the fact is Social Security is NOT draining our treasury. I have provided the following links to prove my point. Glenn Beck distorts, Hammering Truth reports!
http://ppjg.wordpress.com/2010/07/16/social-security-money-stolen-by-government/
http://www.taxpolicycenter.org/taxfacts/content/pdf/ssrate_historical.pdf
http://www.ssa.gov/cgi-bin/ops_series.cgi http://www.ssa.gov/oact/progdata/assets.html http://www.ssa.gov/oact/progdata/effectiveRates.html

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