I Wonder Do People Know?

SSI is covered by a separate tax, 12.4% of gross. So it’s a paid into system. It’s called The Social Security Trust, where technically the money paid into is there, but it’s not. Congress has already spent the excess, and it , must be immediately replenished when needed.

Yes this is FDR’s PONZI scheme. I know that.

But it is, what it is. There is about $20 billion in monthly payouts and about $25 billion in tax receipts, so it’s fine, and by law must be paid.

By about 2038 it goes in the red, and is no longer sustainable. So say the SSI actuaries.

So Obama is just telling lies when he says the benefits that a whole lot of people depend on, won’t be paid, unless, our potentate breaks the LAW. Which isn’t unheard of.

One Response to I Wonder Do People Know?

  1. Obama is the master of scare tactics. He makes up ridiculous stories of America’s inability to pay it bills just to get what he wants.

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