Politicians need to quit raiding Social Security fund
To the Editor:
Will the politicians ever tire of trying to get rid of our Social Security? It now appears that even President Obama is in favor of reducing benefits for Social Security recipients by reducing the CPI. During the election he promised to protect Social Security.
Changing the CPI would reduce the cost of living adjustment. Senator Harkin indicated this morning in an interview that reducing the CPI would cost each of us about $136 per year. Why is it necessary to reduce benefits for seniors when we as a country continue to fight wars and subsidize oil companies and corporations by the billions of dollars? Al Gore wanted to put the trust fund in a lock box. We should have voted for him and let him do it.
If you have ever worked for a wage, you have paid into Social Security. Your employer contributed an equal amount. I started paying into Social Security when I was 11 years old and detasseled corn. Politicians refer to Social Security as an entitlement. We have earned our benefits. The Social Security fund is mandated by law to never spend a penny of tax dollars but there is no law that says Congress can’t “borrow” the money. In fact, they have borrowed and spent it all. In its place we have Treasury notes. The government has always paid the interest but it has gotten to be too costly to just pay the interest let alone the principal. If the politicians would quit raiding the Social Security fund, it would be solvent until 2033. With some relatively small changes, the fund could be solvent for the next 100 years.
Politicians cannot be trusted to do the right thing or to tell us the truth. Unless it is in their own best interest.