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URL:  http://boards.fool.com/only-problem-it-doesnt-well-actually-the-27993608.aspx

Subject:  Re: Early retirements strain Social Security sys Date:  9/28/2009  3:53 PM
Author:  Goofyhoofy Number:  21193 of 56736

Only problem, it doesn't.

Well, actually...

The Social Security fund has been running a surplus. A big surplus. A huge, unarguable surplus for the past 20 years.

Where has that surplus gone? Not into investments, or bonds, or even into a lockbox in Al Gore's basement.

No, it has gone to fund other things which the Federal Government has decided to buy, without wanting to raise taxes to pay for them. So instead of having interest paying bonds which would pay for this temporary shortfall, we have nothing.

Well, that's not true. We have aircraft carriers, star wars laser missle defense shields which don't work, nightvision goggles for all my friends, and super-duper troop carriers that can't carry troops in places like Afghanistan.

We spend more on "defense" than the rest of the world combined. That is, a country with 5% of the planet's population, oceanic defenses on two borders and generally unpatrolled borders with two friendly countries on the remaining two - finds it necessary to spend more than the other 95% of the world on war materiel, while complaining that we cannot give people who have paid into a retirement system their whole lives the check which they were promised.

This seems strange to some of us.
 

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