Contrary to what conservative republicans are preaching, social security has not contributed one penny to the federal deficit problem. It is and always has been funded by social security taxes paid by individuals and empolyers and has always been solvent. Social security has always taken in more revenue than its paid out except during the Bush recession which has resulted in less taxes paid into the system because of the record job losses.
The federal government has had to rob over $4 trillion from the social security trust fund to pay for deficit spending and the majority of that deficit spending was by the Reagan, Bush 41 and Bush 43 administrations who never balanced one federal budget in the 20 years they served and ran the country. It was a time of record deficit spending for those 20 years. Clinton balanced the federal budget, paid down debt and his administration ended 8 years with a net $62 billion surplus over all. Obama's first fiscal year budget ended in deficit spending and his second fiscal year budget that ends 9/30/11 will end in deficit spending also.
If not for social security more seniors and elders would be hurt by recessions and economic down turns. More would be in poverty, less in the middle class and much less income to take care of the basis necessities of life. It would result in more uninsured, ruin the stability of the economic life of those receiving social security benefits. We know what the unemployed people are going through, just think if you add the millions of people to that number if they did not have the safety net of social security. Most importantly, social security allows seniors to live in dignity and continue to participate in the quest for life. The latest census report as carried by the Times Picayune dated 9/14 showed social security kept about 20.3 million seniors and working age adults receiving disability payments out of poverty. That is a powerful statement of facts and illustrates how important a role social security plays in people's lives.
The republican party is bent on destroying social security. That is the purpose of their record deficit spending and creation of debt for the country. They want to starve the government of revenue so there will be no money to continue the program. The republican party's actions at the very moment prove that. Their allegiance is with corporate America, their lobby and the wealthy and is played out in their policies of special treatment to those folks. Their privatized plan for social security would be a boon for Wall Street, you know, those folks who participated in the financial scandal of the Wall Street Banks.
Social security can be made stronger by very minor adjustments, that has been pointed out many times over by various studies. The democratic party has always stood in the way of the republicans attempt to defund the program and should continue to do so. Any thing less would be a betrayal of the American people.
