|
What has happened to the Soc Sec funds (being transferred into the federal operating budget)
may be the biggest "dirty little secret" of politics... both Democrats and Republicans subscribed to it.
It was handled much the same way businesses moved funds out of
their own employee's pension funds into the company's operating budget.
The then company went belly-up and the feds had to take over the pension plans.
So many Soc Sec IOU's were spread into all federal agencies the debts probably can not be paid off when they come due.
Instead, we'll have a "blue ribbon commission" to recommend "forgiveness" of all those debts to the Soc Sec system,
and we start over with true pay-as-you-go financing.
|