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Originally posted by seeker1963
reply to post by thisguyrighthere
Don't fall for the propaganda that Social Security is the ill of our government debt!!
Another argument made by Social Security opponents to raise fear about the national debt is how much our government has borrowed from China. They never mention how much our government has borrowed from Social Security. In fact, the government has borrowed more from the Social Security surplus than it has from any other source in the world, including China. As a result, Social Security now "owns" nearly 18 percent of the federal debt, making it the largest single holder of US debt. The government owes almost twice as much to Social Security as it does to China and Hong Kong.
Why aren't the opponents worried about paying back Social Security -- why aren't they talking about repaying this debt to the American people?
According to the U.S. Treasury Department's "Monthly Statement of the Public Debt of the United States" (9.30.10), the total debt was $13.562 trillion and was held as follows:
US Holders of Debt
42.1 % -- US Individuals and Institutions
17.9 % -- Social Security Trust Fund
6.0 % -- US Civil Service Retirement Fund
2.1 % -- US Military Retirement Fund
Foreign Holders of Debt
11.7 % -- Oil Exporting Countries
9.5 % -- China and Hong Kong
6.3 % -- Japan
1.4 % -- United Kingdom
1.3 % -- Brazil
1.6 % -- All other foreign countries
This is just more Divide, Manipulate, and Control to make us blame those other than the ones who are stealing us blind! Our own Government!!!
Notice how the ones really fighting to end Social Security are those who are the FAT CATS on Wallstreet???
Originally posted by lonegurkha
The problwm with SS is that instead of the original untouchable fund, which was the way it was originaly set up, the money is put into a general fund which the politicians raid on a regular basis to fund their pork barrel projects.
They changed the law in order to steal from us all. Had the funding been left alone there would be more than enough money in the system for everyone. Politicians = theives. They've never seen the peoples money that they didn't want for themselves.