| The Looting of Social Security The RYAN BUDGET'S Radical Priorities: Provides Largest Tax Cuts in History for Wealthy, Raises Middles Class Taxes, Ends Guaranteed Medicare, Privatizes Social Security, Erodes Health Care March 10, 2010 reproduced for "fair use" from Center on Budget and Policy Priorities By Paul N. Van de Water The Drive to Eliminate Social Security Accelerates By Shamus Cooke February 23, 2010 "Information Clearing House" - -In Washington each new day brings a fresh call to “reform entitlement programs” — Social Security, Medicare, etc., (in Congress, the word “reform” now means to eliminate, or drastically reduce). Tackling Social Security has been on the to-do list of the corporate elite for years, and they’re not waiting any longer. After years of promoting this cause, conservative think tanks have now garnered solid support from the political establishment as a whole, which includes the Republican and Democratic parties. xxxxxxxxx Social Security to start cashing Uncle Sam's IOUs By STEPHEN OHLEMACHER, A.P. WriterMarch 14,2010 xxxxxxxx The following is taken from Dr. Allen W. Smith's excellent book and eye opener on Social Security, "THE LOOTING OF SOCIAL SECURITY," Chapter 11, page 187. "The discussion is are we as a country violating a trust by spending Social Security trust fund moneys for some purpose other than for which they were intended. The obvious answer is yes...I think that is a very good illustration of what I was talking about, embezzlement, thievery. Because that, Mr. President, is what we are talking about here. But for the dialog started by the Senator from New York, we would not be here today. And I publicly commend and applaud the vigorous activity generated by the Senator from New York because on that chart in emblazoned red letters is what has been taking place here, embezzlement. During the period of growth we have had during the past ten years, the growth has been from two sources. One, a large credit card with no limits on it, and, two, we have been stealing money from the Social Security recipients of this country...." --Senator Harry Reid (D-NV) Speech on Senate Floor, October 9, 1990 In 1988, during my campaign against Rep. Dan "The Mental Midget" Burton, I learned that the Social Security Trust Fund, (Surplus) was not being placed in a "trust;" and being kept separate from but was being co-mingled with general revenue funds and used by the Reagan administration for general budget items, thus reducing the true deficits of the annual budgets. Obviously, this action by Reagan & Congress masked the true deficit each year. It was a blatant form of deceiving America, especially America's seniors but it was also a blatant form of embezzlement. I wrote a media release called "Cooking The Books", whereby I tried to speak out against this deceit. NOT A SINGLE MEDIA PERSON RESPONDED TO MY MEDIA RELEASE. America had no interest in exposing this deceit! President Reagan, like Presidents Bush, Clinton and Bush, Jr. continued to proclaim a "balanced budget" and "protecting Social Security" while running up massive budget deficits each year and using the Social Security Trust Fund to mask the deficit. August 14, 2005 was the Seventieth Birthday of Social Security. Unlike other presidents, President Bush made no mention of that special day. (The Birthday Bush Wants To ignore) Rep. Mike Pence made no mention of that special day being the 70th birthday of Social Security either, but I, George Holland, did! Why did Bush and Pence ignore this birthday? Social Security is a social benefits program that Bush, Congress and Pence have looted, IN VIOLATION OF FEDERAL LAW, to pay for items, including (1) The Occupation of Iraq, currently $ 580 billion, projected to be $3 trillion, (2) $11 million a day in aid to Israel ($5 billion per year) (3) The new American Embassy in the Green Zone now costing a projected one billion dollars and (4) tax cuts for the very rich. The Social Security Trust Fund has no surplus of $ 2.4 trillion. It has been looted, embezzled. Gone forever, in violation of federal law! **************************************************** Fortunately, there is an American patriot speaking out about this cruel hoax. Allen W. Smith, Ph.D., has written an excellent book, "THE LOOTING OF SOCIAL SECURITY," (HOW THE GOVERNMENT IS DRAINING AMERICA"S RETIREMENT ACCOUNT). In his book, Dr. Smith informs us that U.S. Senators Moynihan and Hollings became concerned that the Social Security Surplus was not being saved in a separate fund but was being co-mingled and spent with general tax revenues. A proposal by Senator Hollings "eventually became Section 13301of the Budget Enforcement Act of 1990, which was signed into law by President Bush on November 5, 1990. It prohibited including Social Security funds in any budget calculations, including deficits or surpluses". Section 13301 explicitly states: "Not withstanding any other provision of law, the receipts and disbursements of the Federal Old Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund shall not be counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of (1) the budget of the United States Government as submitted by the President, (2) the Congressional budget, or (3) the Balanced Budget and Emergency Deficit Control Act of 1985." ********************************************* What have Presidents George H.W. Bush, Clinton and George W. Bush and Barack Obama done in following this federal law? As Dr. Smith reminds us; they simply ignored it! These men had sworn to uphold the Constitution and all laws of the United States, yet they made a mockery of this oath by deliberately breaking the law! To show the deceit used by President Bush in his State of the Union address, Feb. 27, 2001, in talking about the budget and Social Security, the following are excerpts from "George W. Bush Another Round of Reaganomics" in Dr. Smith's book. "My plan pays down an unprecedented amount of our national debt. And then, when money is still left over, my plan returns it to the people who earned it in the first place... My budget protects all $2.6 trillion of the Social Security surplus for Social Security, and for Social Security alone...We owe it to our children and grandchildren to act now, and I hope you will join me to pay down $2 trillion in debt during the next 10 years...That is more debt, repaid more quickly than has ever been repaid by any nation at any time in history." ..."To make sure the retirement savings of American seniors are not diverted in any other program, my budget protects all $2.6 trillion of the Social Security surplus for Social Security, and for Social Security alone." ..."My budget has funded a reasonable increase in our ongoing operations. It has funded our nation's important priorities, it has protected Social Security and Medicare. And our surpluses are big enough that there is still money left over." "We have increased our budget at a responsible 4 percent. We have funded our priorities. We paid down all the available. We have prepared for contingencies. And we still have money left over." **************************************************** Friends, these are lies, lies and more lies! As Dr. Paul Craig Roberts has said; "George W. Bush is a natural born liar." ******************************************* On April 26, 2005, President Bush participated in and spoke at a Social Security Roundtable in Texas. Here's an excerpt from what he said. "You see, a lot of folks, I'm sure some right here in this audience, believe Social Security is a system where we take your payroll taxes and we hold it for you and then when you retire, we give it back to you. That's not the way it goes. We take your payroll taxes, we pay out the benefits to the current retirees; and with the money left over, we pay.. pay for other programs. And there's nothing left but file cabinets with I.O.U.s. And that's how it works." Aren't you outraged! This is the same President who promised, like the others, to protect Social Security. This "embezzler," this "crook," has "embezzled" well over one half of a trillion dollars from the funds needed for the poor, the elderly, the disabled and yes, even needy children. And who cares? Certainly not Bush's "embezzle, borrow and spend" twin, our Congressman, Zionist Rep. Mike Pence. Bush is the same embezzler who claims to be a "compassionate conservative" and "God's messenger." I was at Muncie and Connersville in 2005, when Rep. Mike Pence talked about the crisis in Social Security without once mentioning how the Trust Funds, (Surplus) had been spent, (embezzled). At Connersville, I challenged his comments, and he claimed the surplus was just paper I.O.U.s. His comments illustrate the problem!. The monies are no longer there. Rep. Pence is an attorney, the monies have been spent and can not be repaid. This has been done in violation of federal law, and Rep. Pence, an attorney, should know that. The money is gone forever and so are Seniors' securities. Is there a crisis? (see the clocks at the top of this page) Yes, there is. Since the Social Security Surplus is invested in U.S. Treasury funds, the Treasury then issues paper I.O.U. s for these funds and these funds become part of the National Debt and accrue interest of $80 billion plus each year. However, this surplus and this accrued interest are immediately embezzled by Bush and Congress and spent on government programs. Remember, this is being done in violation of federal law. This is why it is important for all Americans to understand the connection between Social Security, the National Debt and the health of our economy. The health of our economy is a catastrophe, thanks to the "embezzle, borrow and spend" Bush and Pence Conservatives! Pence and Bush's actions are "A Betrayal Of Our Trust"! This national debt ceiling has been increased again. The National Debt is growing, fueled by spending more monies than being taken in via tax revenues, a tax revenue shortfall helped by tax cuts for the very rich! V.P. Cheney netted $1.1 million more in 2005 than 2004 and Pres. Bush netted $26, 000.00 more thanks to the "tax cuts" that Bush and Pence, ("borrow, embezzle and spend") have been pushing! But who makes up this difference? The government goes out and borrows it and also "embezzles" it from Social Security! It is added to the National Debt for which we all are responsible. President Bush and Zionist Rep. Pence, the "embezzle, borrow and spend" twins have added over $ 3.4 trillion to our national debt. So what's the future? It is important to understand that these Social Security funds, placed in trust by federal law, belonged to the individual workers and not the government. However, Americans must understand these monies have not been placed in trust but have been "embezzled" in I.O.U.s and can never be repaid to the system. If you can't pay off a national debt of $8.1 trillion, or 9.0 trillion, then how do you pay off $10.6 trillion of debt? That's $35,300 of debt for each man, woman, and child. It can't be done! We no longer have to worry about privatization. Remember this; as your U.S. government spends more and more borrowed and embezzled monies, (i.e. the costs of the Iraq war, $2 trillion and $11 million a day in aid to Israel and $ one billion for a new American Embassy in Bhagdad ) which it does not have and gives tax breaks to the very wealthy, creating fewer tax revenues, the National Debt keeps increasing. Just to service the debt interest on this ever increasing National Debt requires more money, thus worsening an increasingly bad financial situation. The interest on the National Debt is costing well over a billion dollars a day! "In 2005 the average household in America was paying almost $1,600 a year for this interest. In ten years the burden will be two and a half times larger: $4,300 per year." ("What the Federal Budget Deficits Will Mean to You", aol.com) How do Bush, Pence and Congress intend to pay this debt? Social Security should have been protected, especially because of its benefits to the elderly poor! “Social Security Lifts 13 Million Seniors Above The Poverty Line: A State by State Analysis from the Center on Budget and Policy Priorities states, "Excluding Social Security income, in 17 states more than half of the elderly-- and, in 45 states, more than 40 percent of the elderly-- have incomes below the poverty line. ...With Social Security, the elderly poverty rate in the large majority of states is less than 10 percent" In Indiana, those figures are 51.5% and 8.1% respectively! Can you imagine the catastrophic economic consequences, especially to the elderly poor, when our economy collapses due to this excessive debt and there is no Social Security surplus available? I am no accountant, actuary, or tax attorney, but an American who is trying to alert my fellow citizens to the dangers of deficit spending and how it will affect social programs such as Medicare and Social Security! If elected to Congress, I promise you, Section 13301, of The Budget Enforcement Act of 1990, the law to protect our Social Security Surplus will be enforced ! Hopefully, the information titled Social Security and Medicare in the publication, "What the Federal Budget Deficits Mean to You" will be helpful as a guide to understanding what is happening! I have tried to warn Americans, especially Seniors, of the tremendous costs associated with the Iraq War and Occupation. The invasions of Afghanistan & Iraq are only the first of many wars planned by The Project for a New American Century (PNAC). It is my belief that because of America's indifference and apathy to these wars, our great nation may never recover. |
| Which One Has the Crisis ?! |