How’s that social security trust fund working out for you? Suckers!

Posted by Jason | Posted in Economics, Government | Posted on 04-02-2010

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Our government, the same idiots liberals look to for health care and the same idiots neocons look to for protection from overseas boogeymen, has looted and spent our way into what is going to be the beginning of the end.

Last month, we noted that Social Security had delivered its worst performance in decades. Now, Allen Sloan warns investors at Yahoo Finance that the entire program has gone into the red — and will stay there. Get ready, Sloan says, for the mother of all bailouts:

Don’t look now. But even as the bank bailout is winding down, another huge bailout is starting, this time for the Social Security system.

A report from the Congressional Budget Office shows that for the first time in 25 years, Social Security is taking in less in taxes than it is spending on benefits.

Instead of helping to finance the rest of the government, as it has done for decades, our nation’s biggest social program needs help from the Treasury to keep benefit checks from bouncing — in other words, a taxpayer bailout.

via Hot Air » Blog Archive » Social Security tipping over into the red.

So, how are these morons going to attemp to get us back to solvency? Will they have the guts to cut back social security or abolish it all together? (that was rhetorical) My guess is this will be the beginning of what Peter Schiff calls the coming currency crisis. They will attempt to print their way out of it, which will send the dollar falling, hurting those on social security and everyone as a whole.

Better stock up on food, cigarettes, and bullets. They’ll be great for bartering.

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Comments (1)

First off the social security lock box that your boy Al Gore talked about keeping locked is FULL.But he and the GOP and DNC and all the nuts in DC filled it up with not money but IOUs . As of now social security is BROKE as in dead broke,your dead old uncle sam is about to tell you them old birds broke SS not it started under Johnson I was at work at Lockheed he came on TV at about 7:00 PM and said we are going to get some of SS money to pay for the WAR —but we will pay it back he forgot to say never.There must be a war everyday because they have got 60 TRILLION DOLLARS out so far .You people on welfare all your life and don’t work and don’t want to look out Social security has been the ones paying your welfare .Now that it’s broke SS that is who is going to pay you NOW. And they will NOT ABOLISH they can not by law.They would like to there is a law in place that goes this way;they CAN cut off anything you don’t pay into ,but they CANNOT cut off anything you pay into like SS.You do not pay anything into welfare sleep tonight on the truth not hot air that comes out of Washington DC. You will get SS when you get to be around 67-72 but here is the plan they are about do to you each yr they will cut back on how much you will get say 1000 a month but the next yr your friend that worked beside at the same pay will only get 950 and so on until it gets down just above welfare pay.As I said welfare is the one that is in trouble not social security.THE THING TO DO IS KICK OBAMA OUT OFFICE IN NOV not just talk about .I’m 70 yrs young and a VET this Obama hates VETS and I say for ALL the VETs back at him,He has never been in the service and about 95 percent of the NUTS in DC never has.Everyone in my family for for 100 yrs has but who in the Obama family has Not One if so name him so what is he doing in that high Office he is never in DC him and his Wife, Kids and anybody he can hide on Air Force One. And you and I are paying for all that .All my brothers (VETs) a lot gave all for this ,VOTE VOTE

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