Social Security is Not Broke

January 2, 2008 · Filed Under Opinion

I’ve heard that Social Security is out of money. The Cold War was completely financed by the money withheld between 1946 and 1986. Trillions of dollars were taken from the general fund for spending on the military.

By not isolating Social Security deductions from hundreds of millions of paychecks our elected leaders had all the money they needed to do whatever they wanted. If there was never a separate account – IT CAN’T BE BROKE! The beneficiaries of this spending were stockholders and upper management of the defense industry.

Had this not happened, there would be a surplus so large it would pay larger checks with complete medical coverage and prescriptions for generations to come.

So what can we say about people that knew they were ruining our country while they passed their midnight acts where no could see what was going on? For that matter why doesn’t the government make sure their spending is below their income like we have to do all our lives. If they over-spend, all they do is ask the Federal Reserve to print a few billion and then agree to pay 13% interest. Wouldn’t it be smarter to not over-spend? I’d go without a lot before I would borrow at 13%.

The corruption that builds up over 200 years is so entrenched that another constitutional convention is called for. It could take quite some time to develop an alternative to the current system but it would be well worth the effort. Something extreme needs to happen or America will end up looking like a fourth world country indebted to the world.

By Lloyd H. Frye
Op-Ed Columnist
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