The GOVERNMENT keeps harping on the fact the Social Security Fund is running out of money. Why? Because we have more people drawing Social Security. Well that is a partial truth. This is what I have learned.
1. There is no Social Security Fund. The money collected for Social Security actually goes into the General Fund.
2. We have more people drawing upon our Social Security that have never paid into Social Security. These are the two big drains.
The way I have been informed is the Government makes “LOANS” from the General Fund. That is to say MONEY is taken out but rarely if ever is paid back. I surmise that if pressed to do so, our Government could not even account for all the money taken from the General Fund, which was intended to be Social Security Funds. The money has been so intermingled, ‘LOANS’ to other agencies, not actually accredited as coming from collected Social Security monies. Poor Bookkeeping????
Our Legislators spend this money with only an IOU then rely on taxpayers to pay off the IOU. It is a vicious circle
Whether the Government will admit it or not there are many Illegal Aliens, and probably others that collect but do not contribute. Is there an answer? YES! Our Government needs to track all of these “LOANS” and have the agencies, or whoever borrowed the money pay it back with INTEREST. Track down the non-contributing recipients, collect the money, with INTEREST . Will this ever happen. NOT LIKELY, That would probably make too much sense. The way our Government operates they would probably spend more money researching, diagnosing the research, discussing the diagnosis, and paying someone to pretend trying to collect the money, than would be recovered. Any way We The People will PAY.
That Is How I See It.