The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Why the Rush to Cut Social Security Now?

Jul 18, 2011

Once again the politicians want to cut Social Security, raising the retirement age, AGAIN, and cutting the cost-of-living adjustments, AGAIN.

They claim Social Security is going broke due to increased life expectancy and the beginning of retirement for the “baby boomers.”

No, Social Security is NOT broke.

In fact, over the years the Social Security Trust Fund has run up a huge surplus – 2½ trillion dollars – plus the interest that money should have earned.

BUT there is no money in the Trust Fund today. The government “borrowed” ALL of it, using it to finance bailouts and subsidies to the banks and corporations, enormous tax breaks for the wealthy and huge expenditures for wars.

If Social Security is short of money today, get it back from the banks, the big corporations, the military industrial complex and the wealthy.