{"id":16509,"date":"2014-03-21T09:59:45","date_gmt":"2014-03-21T13:59:45","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=16509"},"modified":"2014-03-21T10:22:51","modified_gmt":"2014-03-21T14:22:51","slug":"abby-huntsman-promotes-the-wall-street-banksters-big-lie","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2014\/03\/21\/abby-huntsman-promotes-the-wall-street-banksters-big-lie\/","title":{"rendered":"Abby Huntsman Promotes the Wall Street Banksters’ Big Lie"},"content":{"rendered":"

Truthout<\/em> has the article Abby Huntsman Promotes the Wall Street Banksters’ Big Lie<\/strong><\/a>. The article has this piece of information that I am surprised that I did not know (because it is not true).<\/p>\n

From when it was created in 1935 up until the 1980s, Social Security was paid for by taxes coming in from people who were currently working. In other words, people currently in the workforce paid for the Social Security benefits of people who had already retired and started collecting Social Security checks.<\/p>\n

But in 1983, the Reagan administration changed things around. It raised Social Security taxes so that, in effect, working people from the Boomer generation would pay for both their own retirement and the retirement of people older than them.<\/p>\n

The Reagan administration did this so that Social Security could afford the benefits surge that would come about once all the Boomers retired. The extra money it got from raising Social Security taxes was invested in government bonds. Today we call that extra money the Social Security trust fund.<\/p>\n

And right now, that fund is working just swimmingly. In fact, it\u2019s running at a $2.6 trillion surplus!<\/p>\n

As a result, Social Security, will continue to pay out 100 percent of its scheduled benefits, until 2033, when the trust fund runs out of money.<\/p>\n

Again, though, this isn\u2019t a problem. It\u2019s part of the plan.<\/p>\n

The trust fund was created to pay for Boomers\u2019 retirements, and since by 2033 most Boomers will be well into their eighties and nineties, it makes sense that the fund will run out by then.<\/p><\/blockquote>\n

Maybe, I need to do some more research on this.\u00a0 It is odd that I have never seen this information about the trust fund until today.<\/p>\n

The Social Security Administration web site has the article Debunking Some Internet Myths<\/strong><\/a>.<\/p>\n

The Social Security Trust Fund was created in 1939 as part of the Amendments enacted in that year. 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.”<\/p><\/blockquote>\n

The statement at the end of the excerpt from the article about Abby Huntsman is very misleading.\u00a0 The trust fund was not created to pay for Boomer’s retirements.<\/p>\n","protected":false},"excerpt":{"rendered":"

Truthout has the article Abby Huntsman Promotes the Wall Street Banksters’ Big Lie. The article has this piece of information that I am surprised that I did not know (because it is not true). From when it was created in 1935 up until the 1980s, Social Security was paid for by taxes coming in from […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-16509","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/16509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=16509"}],"version-history":[{"count":5,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/16509\/revisions"}],"predecessor-version":[{"id":16514,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/16509\/revisions\/16514"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=16509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=16509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=16509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}