Oklahoma GOP Sen. Tom Coburn warns Social Security solvency should not be contingent on the federal government’s continuing ability to borrow money and previous Congresses have “stolen” the trust fund intended to make the American people secure in retirement.
“We have stolen $2.6 trillion from it. We put paper money in there. The problem is, we spent the money – we didn't just take it, we took it and spent it,” Coburn said Thursday on MSNBC’s “Morning Joe.” “Social Security ran about a $53 billion deficit last year – it's projected to run a continuous deficit.
“There's no question that there's an IOU in there,” Coburn said. “But our country’s borrowing $4 billion a day. There’s no question, if we had the money, we could wait 10 or 15 or 20 years to fix Social Security.
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What Coburn doesn't tell you is that this is all about the Republicans on Wall Street wanting to manage social security. You saw how they managed the housing bubble. I don't think you want liars and thieves running your social security.
Of course the government steals from social security. We are working hard, so wellfare babies won't have to.
You HAVE the money Coburn you dumbo!! Just rescind the tax cuts for billionaires and you are solvent.
And, I would bet the farm, that Coburn is a millionaire who still has that great gvt job with those great gvt bennies and that great gvt healthcare plan!!
For how many years?
Give it a rest. We have plenty money--it's just hoarded at the very top. For 30 years.
Fer instance, how can we give aid to Japan, as noble as that may be? Where did that money come from?
How can we bomb yet ANOTHER country maybe?? Who's gonna pay for that?
And who's idea anyway?
" I don't think you want liars and thieves running your social security.". Seems they do.
by Ralph Deeds4 years ago
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by SparklingJewel6 years ago
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The national debt — the amount of money the government owes its creditors — is about $12.5 trillion, or nearly $42,000 for every man, woman and child in the country. About $8 trillion has been borrowed in public...
by Charles5 years ago
Does he really think that the solution to the dwindling social security fund is to privatize it? Perhaps it would be a better idea to return the money that has been "borrowed" without our consent? ...
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