President Obama is now saying that Social Security benefits would be delayed unless the debt ceiling is raised. Has anyone noticed how quickly Democrats have abandoned their mantra that there’s a solvent and actual “Social Security Trust Fund” with real assets in a “lock box” that protect the solvency of this program for another forty, or perhaps twenty years?
Here’s how then House Majority Leader Nancy Pelosi reacted when sane minds pointed out that there isn’t any actual trust fund to guarantee the obligations under the program in 2005.
Democratic congressional leaders Harry Reid and Nancy Pelosi said the same day, “It is simply wrong to suggest that the Social Security Trust Fund does not exist, or that the securities held by the Trust Fund are merely pieces of paper. For a president to even suggest that the federal government might, for the first time, default on a security backed by the full faith and credit of the United States unnecessarily misleads American workers…”
Back in 2000, the New York Times was quoting the award-winning illuminati extraordinaire Al Gore talk about how important this “lock box” was for the country:
…Putting both Social Security and Medicare in an ironclad lock box where the politicians can’t touch them — to me, that kind of common sense is a family value.
So now that there’s a possibility that the debt limit isn’t going to get raised, what is the first obligation of the federal government that gets threatened? You guessed it: Social Security entitlements. So what the heck happened to this “lock box” that was supposed to take the payments made by current workers (which more than covered the cost of payments to retirees, by the way) and make sure that money was put somewhere where politicians couldn’t touch it? Heck, if the government has a solvency problem, why don’t they just dip into the “trust fund” or take a little out of the “lock box” and use it to pay retirees?
Or for that matter, since we’re still running a surplus in that program how about we just take the money being paid by current workers under the Social Security ponzi scheme and use that revenue to pay retirees? Just stop stealing the money paid into this system, and every Social Security check is more than covered. Heck, there’s even a surplus to stuff into that precious “lock box” filled with trillions of dollars of government-backed securities, no? Isn’t that what Democrats have been swearing up and down to us every time anyone raises the issue that the program is going to go bankrupt unless it is restructured in some way?
Yeah, I forgot. All that is a huge lie. There is no “trust fund”, there is no “lock box.” And finally Obama and the Democrats will admit it, but only because they’ve chosen to threaten Americans with cutting off their Social Security Checks if Republicans don’t cave in on their deficit spending plans. Otherwise, Grandma is going to have to go on the cat food diet, or starve to death.
Bernie Sanders, D Vermont, said, “Social Security has been the most successful social program in the history of this country. We are getting sick and tired of the Republicans telling us that Social Security is collapsing when the reality is that there is a $2.6 trillion dollar surplus in Social Security and it can pay every benefit to every eligible beneficiary for the next 27 years!”
So how come we can’t pay Social Security benefits without raising the debt limit? Might it be because we have been stealing these payments to fund other government spending and then borrowing money to pay retirees? If a pension plan did this, the management would go to jail. If the President does this, he asks to be re-elected.
Just remember who it was who actually threatened that they were going to stop paying entitlements under Social Security instead of cutting discretionary spending. Not those evil Republicans. No, it was the compassionate Democrats whose first spending cut was to be borne by seniors, invalids, widows and orphans.
UPDATE: Jerry Fuhrman also picked up on this, in his usual very witty style.
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