Home > Cande = Conjecture & Exaggeration, Fande = Fact & Evidence, Original Thought, self-sacrificing, The Economy > Social Security = Example of Federal Government Success

Social Security = Example of Federal Government Success

source: http://www.ssa.gov/history/imf.html

President Franklin Delano Roosevelt helped to create Social Security in 1937, as part of his “New Deal” for the benefit of the majority of Americans.

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source: http://www.ssa.gov/history/briefhistory3.html

“The monumental first task was the need to register employers and workers by January 1, 1937, when workers would begin acquiring credits toward old-age insurance benefits.”

EXCERPT:

“Miss [Ida May] Fuller filed her retirement claim on November 4, 1939, having worked under Social Security for a little short of three years. While running an errand she dropped by the Rutland Social Security office to ask about possible benefits. She would later observe: ‘It wasn’t that I expected anything, mind you, but I knew I’d been paying for something called Social Security and I wanted to ask the people in Rutland about it.'”

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Many generations of Middle Class Americans received Social Security checks in order to live in their retirement years…we’re talking millions of people, since 1937.

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source: http://www.nytimes.com/2010/08/06/health/policy/06medicare.html

EXCERPTS:

“WASHINGTON — Medicare will remain financially solvent for 12 years longer than projected a year ago — until 2029 — because of the cost-cutting measures in President Obama’s recently enacted health care legislation, the program’s trustees reported on Thursday….

Social Security’s long-range finances stand to improve slightly starting in 2019, they said, from a new tax that takes effect that year on the priciest health insurance plans, which generally go to highly paid managers and executives. The tax is expected to result in a shift of compensation for such individuals from health benefits to income, which is subject to the payroll taxes for Social Security and Medicare.

In the short run, however, Social Security’s picture has continued to deteriorate because of the recession. For the first time, benefit payments this year will exceed the revenues coming into the program — six years earlier than was projected in the 2009 trustees report.

The trustees project that Social Security’s benefits and revenues will return to rough balance for the next several years as the economy continues to improve. But, they caution, the swelling of the retiree population by aging baby boomers soon will cause the program’s deficits to grow rapidly.

Current payroll tax and interest income for Social Security will cover benefits through 2024, projections show. After that, the program will have to draw down the Social Security trust fund, which is not an actual reserve of money but an accounting device tracking the accumulated surplus. The fund is projected to be emptied in 2037 — the same date as projected last year.

Thereafter, incoming payroll tax revenues would only cover somewhat more than three-quarters of scheduled benefits — requiring reduced benefits, higher taxes or both.

‘Despite the projection that Social Security can continue to pay full benefits for nearly 30 years, the sooner action is taken, the more options for reform will be available, and the fairer reforms will be to our children and grandchildren,’ Treasury Secretary Timothy F. Geithner, a trustee, said in a statement.”

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Social Security is paid for, and has been paid for by the workers of America since 1937. Thank you to FDR and the Democrats who cleaned up the Crash of 1929 and the Great Depression caused by the Republican Party Rule of the 1920s. And thank you to Barack Obama and the Democrats who are now rolling up their sleeves and cleaning up the Cataclysm of 2008 and the Great Recession (Depression was already taken) caused by the Republican Party Rule of the 2000s.

How soon we forget in this country. To the Baby-Boomer Generation, I say…maybe it’s having gone through the Kennedy assassination, the Vietnam War, Nixon’s Watergate scandal, and then I guess anyone would become inured to corruption. I’m still stunned when I think about the over-the-top malfeasance of the Iraq War, though. Do you remember when we – the USA – our coalition forces, led by 90% US soldiers, lost a pallet of $12 billion in cash?

Man, if we only had all those billions of dollars we wasted on the Iraq War we wouldn’t have to debate about providing affordable health care for all Americans. May we learn from our disasters of the past, and stop funding Death via the Military-Industrial Complex. May we support Life here at home and around the world through Education, Health Care and Jobs, Jobs, Jobs! We can make Universal Health Care work to benefit the majority of Americans just like we made Social Security work to benefit the majority of Americans. It’s as simple as stepping into the future with a workable plan, which is now law, and which the Republicans of the 2000s want to dismantle.

Remember, Republicans and Conservatives will lie, cheat and steal. From George W. Bush lying about Iraq having WMD and stealing an election and cheating taxpayers out of their money to pay for a false war…to Tom Delay corrupting other Republican congressmen with Jack Abramoff…to Sarah Palin claiming her map of political targets, marked with the sights of a hunting rifle, was purely for surveying purposes…to Dick Cheney claiming Saddam Hussein may have reconstituted his nuclear weapons programs (even though Hans Blix, the UN Weapons Inspector, had reported that all Iraqi nuclear weapons facilities had been eliminated since 1998) or fabricating an Iraqi/9-11/al Qaeda connection on TV, only to deny that he ever said those words if reporters quoted him in subsequent interviews; or even when questioned during the Vice Presidential debate in 2004…Republicans and Conservatives have no problem lying to your face. Be ready for it. Have your fact & evidence in your back pocket. We got some half-cocked, conservative cliques in this country repeating lies enough so that they end up believing them as truths.

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* Remember George W. Bush’s sure-to-fail plan for Social Security? He wanted to privatize it – make it into stocks traded on Wall Street! He would have wiped out Social Security too! We dodged another disaster that W. had in store for us.

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