Social Security ‘borrowing’

EDITOR:

I am not a Republican or Democrat I’m an Independent. To me this is ridiculous. The government under George Bush “borrowed” from the Social Security funds.

To me the phrase “to borrow” means at some point in time the funds will be returned with appropriate interest. The government doesn’t seem to comprehend this fact. Save Social Security and pay back the money that you “borrowed!”

“First, the amount of surplus Bush ‘borrowed’ is actually around $708 billion, a little more than half of the $1.37 trillion claimed in the meme. While around $1.52 trillion in bonds was added to the trust funds from 2000 to 2008, the Treasury only has access to the cash revenue collected every year, not the interest accrued on the entire surplus.” — From a Politifact article By Linda Qiu on Monday, Aug. 3, 2015, at 1:27 p.m. http://tinyurl.com/TruTh-SS

Gregg Hasenjaeger

Iron Mountain

COMMENTS