Share on Google Plus Share on Twitter Share on Facebook 2 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 2 (4 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Stats   2 comments

Exclusive to OpEdNews:
OpEdNews Op Eds


      (Page 1 of 1 pages)
Related Topic(s): ; ; , Add Tags Add to My Group(s)

Must Read 3   Well Said 3   Supported 2  
View Ratings | Rate It

Author 7981
Become a Fan
  (6 fans)
- Advertisement -

In the June edition of the AARP Bulletin, the grandson of Franklin Roosevelt, the president who passed into law the national retirement program called Social Security, writes about what he calls the enduring truths of the program.  He says those who are yelling that the sky is falling concerning the funding of social security are just purveyors of fear who bear close resemblance to the program's early opponents in the 1930's who went so far as to call the program a hoax.  He says, "Social Security costs are funded out of its own dedicated revenue stream. It does not and cannot borrow money to finance its operations. There is no deficit financing...The administrative cost is .09 percent. It returns more than 99 cents to beneficiaries on every dollar collected...By the end of 2010, the Social Security trust fund had a positive balance of $2.6 trillion. As a result of interest earned on the trust fund balances, the fund's surplus will continue to expand to approximately $3.67 trillion at the end of 2022. After that year, it is projected that the balance will begin to decline. Still, reserves will be sufficient to pay full benefits through the year 2036. After that, Social Security would still be able to pay for 77 percent of benefits...This is decidedly not a program that is broke or going broke. In fact, this is quite a remarkable achievement."

So next time you hear someone saying that Social Security is going broke tell them their wrong and ask them where they got their information. Most likely they got it from someone who has a political motive to terminate the most effective and responsible government program there is.

Besides, it's money that you've contributed. It's your money. Demand that you actually get it. Don't let anyone take it away or put it at risk by putting it in the hands of the same Wall Street robber barons who got us into this mess!
- Advertisement -
- Advertisement -


A graduate of the State University of New York at Buffalo with an MBA in 1980, John went into the banking business from 1981-1991. John went into the gymnastics business with his wife, with whom he has two children, in 1992 and grew it enough by (more...)

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

Go To Commenting

The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -
Google Content Matches:

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

What is a Socialist Anyway?

Healthcare Forum a Big Success, But Reveals Divisions

The Civil Rights Act of 2010?

Two opposing viewpoints of Obama's speech in light of the Israeli/Palestinian Conflict


The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
2 people are discussing this page, with 2 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

It's funded by our own contributions and our emplo... by John Basel on Monday, Jun 13, 2011 at 9:56:56 AM
Well put. If Medicare costs were controlled to AVE... by S. Juniper on Monday, Jun 13, 2011 at 4:26:19 PM