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BE ADVISED
TRUST FUND OVER THE TOP, AGAIN |
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| In case you are not following the monthly reports from the US Treasury, you should know that the Social Security Trust Fund, the fund that has no money in it, has already topped last year with two months to go in this fiscal year. The Treasury reports the Social Security Trust Fund, the combination of the Federal Old Age & Survivors Insurance fund (FOA&SI) and the Disability Insurance fund (DI), at $1.160 trillion as of July 31, 2001. That's an increase of $153 billion over the close of fiscal 2000 when the trust stood at $1.007 trillion. All in bogus double taxation bonds that you or your children must someday pay off. In fiscal 2000, the Social Security Trust Fund rose $152 billion. We've already topped that with two months still to go. That means that the extra payroll taxes you have been paying this year have exceeded the $95.4 billion in extra loot you provided the Beltway Bandits last year and it's getting worse. By the close of the government's fiscal year on September 30th, you will have given the federal government at least another $107 billion to blow on their pork barrel ventures instead of keeping their promise not to touch Social Security funds or use them for anything other than your retirement. And this does not include the extra money you are pumping into the health care Medicare surplus they are also stealing. With the national debt standing at $5.718 trillion on the same date of July 31, 2001, this means that the Social Security Trust Fund is now 20.2 percent of the national debt. Isn't that nice? Last year, it was only slightly above 18 percent. At the close of fiscal 1997, the Social Security Trust Fund was 11.7 percent of the national debt.
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| That means Social Security's share of the ever increasing national debt has gone up 73% in the last four years. | |||||||
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The fact that the Social Security Trust Fund is now more than one-fifth of the national debt should be enough to wake up anyone in the national media. They shouldn't need Paul O'Neill, the Secretary of the Treasury, a member of the President's Cabinet and one of the trustees of the fund, to tell them that there is no money in the trust fund. It's obvious that this debit black hole holds nothing but debt for you and your children to pay off. But alas, the media is busy with the latest sexcapade in Washington. Another fornigate has their attention. While the Beltway Bandits pirate more than $300 million a day, weekends included, from your retirement moneyand about $460 million per day from all entitlementsthe stall continues. It will again be a subject for trivial discussion during the upcoming election campaigns. But nothing will be done about it. Why should it? The profiteers are raking it in with no reason to stop themselves. And you don't want to hear it either, do you? If you did, you would be rushing to join TUFF, the Taxpayer's Union for Financial Freedom (www.get-tuff.com) or yelling and screaming at your congressional representatives. There is always going to be some distraction to keep the media and the public unaware. It's inevitable. It's a phenomenon known as blunderbuss and it can be stimulated and manipulated by the very people who are robbing you. Oh well, its only moneyright? And they're going to get it from you one way or the other, so why bother. It could be worse. Accept tyranny.
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