Social Security didn't create the deficit, but America's seniors are being presented with a fake Social Security crisis to try to trick them into accepting reduced benefits. Social Security will be able to pay 100 percent of its benefits through 2037 without any changes whatsoever. So why the panic today? If seniors accept cuts in Social Security benefits today, a surplus cash flow will build in the Social Security Trust Fund. According to CRS, ``Social Security's cash surpluses are borrowed by the U.S. Treasury and can be used for tax cuts, spending, or repaying debt.'' So here's what's going on: Social Security benefit cuts or an increase in taxes paid to Social Security or extending the retirement age will give the government more money for tax cut spending or repaying the debt, except for one thing: Social Security money belongs to those who have paid into the fund. It's not the government's money to use, and it shouldn't be the government's money to play with. Senior citizens should not have to accept a reduced standard of living to finance tax cuts for the rich. We must take a stand for senior citizens and protect Social Security and protect future generations from this raid on Social Security funds. ____________________
On the recordJuly 12, 2011
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