I just finished Richard Elfer’s article on social security (published in the July 28 edition of the Renton Reporter).
There is an important fact missing. Most people believe that social security is vanishing because there are more people taking out of the system than are putting into it. This is only partly true.
The biggest part of the failure of the system is that Congress is tapping into it, borrowing money from the fund. The key word is borrowing because they are not allow by law to use the money outright. They write IOU’s against the fund to use money for what ever they wish.
The problem is that the only way the money can be paid back is with tax payers money. It is a loosing situation for the tax payer. Social security could survive if Congress could be prevented from “borrowing” from it.
Do the research, find out that this is true.
Garrett De Cerce