Spending when the math's not there and the numbers aren't there and if they look in the social security trust fund, it's filled with IOUs because the government's been pilfering it for years on end. We have to do something. We have to start having this discussion.
It's time to stop the raid on the Social Security trust fund and start allowing Americans to invest their Social Security taxes in personal savings accounts.
For more than forty years, the United States Congress has shamelessly used payroll taxes intended for Social Security to fund big government spending.
The real Social Security crisis is that the government does not have the money to redeem its IOUs.
The revenue stream for Social Security benefits comes from payroll taxes, which are credited to the Social Security Trust Fund - accounting for the program's finances separately from the rest of the budget.
The Social Security trust fund is in pretty good shape today and we should not embark upon risky, dangerous schemes which will, in fact, undermine Social Security, such as privatization.
Lets all be reminded, 60 million Americans are on Social Security, 60 million. A third of those people depend on 90% of their income from Social Security. Nobody in this country is on Social Security because they made the decision when they were starting work at 14 that they wanted to trust some of their money with the government.
Young people understand that there is not a Social Security trust fund. Social Security is a pay-as-you-go system, where today's millennials are paying for today's seniors.
No matter how many times you say Social Security is broke, the reality is that Social Security's independent revenue stream and its Trust Fund's investments maintain the program's solvency until 2037, when it may begin to fall short.
In normal times, at the beginning of each month, the federal government makes a cash advance to the Social Security Trust Fund called the 'normalized tax transfer,' in an amount equal to the estimated payroll taxes for the coming month.
Will some reporter, or some Republican on the Sunday shows, please ask why tax cuts raid the non-existent Social Security Trust Fund but all the Democrats' new spending doesn't? Will someone please ask that?
Increasing the minimum wagewill put billions annually into the Social Security trust fund.
Social Security is a widely popular program because the individual has been deceived by the Statist to believe that the government has been prudently and diligently managing his accumulated pension investment in his Social Security account, which he presumes to be funded by his own payroll taxes.
The same undisciplined government spending and social engineering that has undermined our economy over the past 30 years has also been tearing at the social fabric of this land.
We ought to look at Social Security. We ought to ask ourselves the question, is there inherently something wrong with Social Security that a man like me is eligible for Social Security? There's something wrong with the system.
The Republican establishment cringe at the very discussion of social issues. They are in favor of big government for the most part. They think campaigns on smaller government are losers and they worry that, if they succeed, there's going to be less of an opportunity for them to have jobs in government. They're basically people who don't think we have a spending problem and that that's great.
Seniors are concerned about Medicare and Social Security. I advocated in Congress a separate and distinct lockbox fund for Social Security.