‘Magical money’ costing us down road
Commentary: Federal government has taken our cash
Over many years and many instances, Congress has stolen Social Security funds to use for other purposes. The way they do it revolves around government bonds being issued from Social Security funds, with proceeds being used to fund other government expenses. This allows politicians to fund stuff without passing any tax increase. In other words it’s “magical money.” Theoretically that money was supposed to be paid back into the Social Security fund. But it never is.
For years Social Security collected more than it paid out there by creating a large surplus intended to keep the fund solvent as the Baby Boomers retired. That “surplus” is what has been taken and now the government doesn’t have the funds to pay back Social Security and has no intention of doing so.
Now with Tom Reed he is at least talking about the issue but no one, including Reed has ever presented and passed a bill that would at least prevent more of this theft of funds to occur. The American people are right to demand an end to this shameful practice. For more than 30 years, Congress has spent the Social Security surplus on other government programs, and it’s a safe bet that this will continue unless we can enact legislation that requires a change.
No change has been made. But at least Paul Ryan, and Reed have brought this to the forefront that things need to be changed. I do not believe both or the Republican party will try to do away with Social Security with it being the third rail of politics. It is a suicidal path for politicians to take.
But Reed is correct in saying something needs to change but before making life tougher on the seniors lets plug up the waste and distribution of funds to people who should not qualify for Social Security.
Stop raiding it and put back the money borrowed from it first, then let’s see if there still is a shortage. I still will vote for Tom Reed and we, as the people, make sure he understands that you leave the seniors alone. They paid into this system by force. It’s their money, not a gift or entitlement from the government.
In closing Tom Reed from what I have observed never said he would do away with social security and medicaid as stated in a article in the OBSERVER (Oct. 31).
If you want to see what he really said go to http://www.post-journal.com/news/page-one/2018/06/reed-reform-needed-to-help-social-security-medicare/ article date June 27 2018 to see what he is trying to do,
James Lisa is a Silver Creek resident.