Posted by: johnhourihan | May 11, 2013

Democrats didn’t put Social Security Trust Fund into General Operating Fund so they could spend it.


The “lists of lessons” on the internet that is being passed around by GOP-leaning miscreants also said :
“That the money the participants put into the independent ‘Trust Fund’ rather than into the general operating fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program, and,
Under Johnson the money was moved to The General Fund and Spent”

Really?
There has never been any change in the way the Social Security program is financed or the way that Social Security payroll taxes are used by the federal government.
From its inception, the Trust Fund has always worked the same way.
The Social Security Trust Fund has never been “put into the general fund of the government.”
It wasn’t then, and isn’t now.
What Lyndon Johnson did in 1969 was to change an accounting practices that put the fund “on budget.”
This meant that every function of the federal budget would be seen in a single budget.
It had no effect on the actual operation of the Trust Fund itself. And it wasn’t “spent” by the Democratic Party.
No matter, that was changed back in 1990 to the way it had always been.
So to say the Democrats stole the money so they could spend it is just a partisan lie.
Are you getting the idea that the GOP is playing a certain portion of the American people for suckers?
Are you going to allow yourself to be part of it?

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