Ninety-two percent of the "holdings" are represented by 20 entitlement accounts under the Pay-It-Again Sam scam covered elsewhere on this web site.

The other eight percent is represented by 118 separate accounts covering perks for federal employees, judges, and various government departments, plus a few philanthropic donations where the money was spent elsewhere and, should the occassion arise, will be replaced by current taxpayer money in the Treasury's General Account. (see: Trust Fund List)

The polite way to say you were lied to. Webster defines it as; "deceit, trickery, sharp practice, or breach of confidence, by which it is sought to gain some unfair or dishonest advantage." The legal world defines fraud largely as deceit in the embezzlement of funds.

Here are some of the lies we've been told:

• Safest Investment in the World: The Social Security trust funds hold U.S. Treasury securities meant to imply that they are like honest securities issued investors when, in actuality, they are "special obligation" bonds specifically developed for fraud and nothing more than double taxation markers. (see: Confessions)
  
  
• Investment in the Future: For years we've been told that the debt build-up of the Social Security trust funds will extend Social Security's life through first 2031, then 2034, and now 2041. The truth is that necessary monies, when required, will come out of current receipts in the Treasury's general fund which is exactly what would happen if there were no trust fund at all.
  
  
• Baby Boomers: Beginning in 1998 when President Clinton told us that there were 76 million baby boomers looming on the horizon and about to wreck havoc on the supplemental retirement system; that we must fix the roof while the sun shines; that he would devote the entire year to "fixing" Social Security; a message widely disseminated by politicians and the Fourth Estate; the lie continues to this day. The U.S. Census, the only source for such statistics, does not show more than seven or eight million births above normal between 1946 and 1965, the childbearing years for servicemen and women and their mates, nothing that the actuaries of the Social Security Administration couldn't handle easily. (see: Boomers)
  
  
• Surpluses Are Gone: Because of income tax cuts and/or a failing economy, politicians and bureaucrats are quick to tell us that surpluses have disappeared. What has really disappeared is the government's use of the "Unified Budget" to report how well it's doing or in the use of its budget reporting. For instance, the fact that Social Security produced an $89 billion surplus last year, fiscal 2002, is not mentioned anywhere, just as it was not mentioned when it was the major source of the best surpluses. (see: Deficits)
  
  
• Booga-Booga Scare Stories: The most frequent and flagrant propaganda messages put forth are variations on the theme that any change in current procedures, the rip-off of hundreds of billions in American worker's retirement money, would result in the currently retired and disabled missing their monthly checks. The truth is that in the very worst case scenario, war with a massive depression and unemployment causing a shortfall, any shortfall would easily be overcome by the constitutionally authorized ability of the government to borrow honestly. It would, of course, result in taxpayers having to pay back borrowed funds in that unlikely event, but it would be temporary, not a well organized continuous scam.