Dean and Gun Guru are correct. Wanted to balance the budget and SS was not protected so he "borrowed" all the money and the politicians have continued to do so to this day. At this point it takes in more then it pays out or has just reached the break even point. With the "baby boomers" reaching retirement age it will not have more people paying in then collecting--thus will be "losing money".
Politicians tried this same thing with the Civil Service Retirement Trust Fund a few years ago and found out that it is protected--law says congress cannot "borrow". The law was up held by the courts.
Want to "fix" SS? 1) Extend the same protection to SS. 2) Then make the politicians pay what they "owe". 3) Remove the "welfare" bend in SS. Retirees get what the contributions calculate out to.
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Today's Featured Article - An AC Model M Crawler - by Anthony West. Neil Atkins is a man in his late thirties, a mild and patient character who talks fondly of his farming heritage. He farms around a hundred and fifty acres of arable land, in a village called Southam, located just outside Leamington Spa in Warwickshire. The soil is a rich dark brown and is well looked after. unlike some areas in the midlands it is also fairly flat, broken only by hedgerows and the occasional valley and brook. A copse of wildbreaking silver birch and oak trees surround the top si
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