Obama Fucks up and tells the truth about Social Security

Posted by: Barthélemy Barbancourt

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Tell a liberal that Social Security is broke and they will reply that Social Security has a $2.6 trillion trust fund.

President Obama’s budget director, Jack Lew, explained all this last February in USA Today:

“Social Security benefits are entirely self-financing.  They are paid for with payroll taxes collected from workers and their employers throughout their careers.  These taxes are placed in a trust fund dedicated to paying benefits owed to current and future beneficiaries. … Even though Social Security began collecting less in taxes than it paid in benefits in 2010, the trust fund will continue to accrue interest and grow until 2025, and will have adequate resources to pay full benefits for the next 26 years.”

So if this is true, why did Obama and Tim Geithner say this?

“I cannot guarantee that those checks [he included veterans and the disabled, in addition to Social Security] go out on August 3rd if we haven’t resolved this issue.  Because there may simply not be the money in the coffers to do it.”

And Treasury Secretary Timothy Geithner echoed the president on CBS’s Face the Nation Sunday implying that if a budget deal isn’t reached by August 2, seniors might not get their Social Security checks.

The answer is that Jack Yew and every other liberal have been lying about SS. There is no SS trust fund, there is only a pile of IOU's from the government. Our government has pissed away every dime sent in for SS. The SS checks get paid out of current revenue, including borrowing. We are bankrupting our nation to support a lie that no one on the left, up until now, would admit to.

Can we finally get liberals to stop lying about SS? I doubt it.

Comments (6)add comment
written by Nobody , July 14, 2011

It's your right pocket writing your left pocket an IOU.

written by Sequel , July 14, 2011

What about the Al Gore lock-box?

written by Nobody , July 14, 2011

LBJ put SS into the general fund in the 60's. No lock-box.

Jonny Texas
written by Jonny Texas , July 14, 2011

How the hell is a 50 year old decision by LBJ even close to news. If you didn't know this you really ahven'e been paying attention and you do not need to be on this board.

May I suggest:


written by Nobody , July 14, 2011

Most people don't know how we got here. History is hyper important. What was it tha Santiago said, "Those that don't know history..."

Barthélemy Barbancourt
written by Barthélemy Barbancourt , July 18, 2011

The reason this is important is that next election cycle quite a few Democrats will go back to lying about SS. They will state that it is well funded and that the plan won't go bankrupt until 2030 or something.

This is a lie. SS has no savings, only the promise to transfer money from one government fund to another. SS is broke as it spends more than it takes in and finally SS needs serious reform and we must spread the facts when a Democrats lies and says SS doesn't need reform.

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