Where oh where has our Social Security gone? The Net Balance in the Fund is $2,699,365,000,000. Total collections for FY 2023 were $2,735,301,000,000 on disbursements of $1,433,349,000,000. Why is this notable? Because the SS Administration does not recognize payments into Social Security as a loan or debt earning interest and payable to Taxpayers – The Big Lie.
Our Government is claiming that Social Security is in fact – a Tax and accounting for it on that basis. Technically, they should be stewards of money on loan and instead they are making a profit – $1,301,952,000,000. ALL Taxpayer Funds (less Operating Administrative costs) are invested in nonmarketable Treasuries. The interest on Federal Treasuries rivals that of a CD at 3.5%.
According to a Footnote to the Financials: “Accounts receivable from the public consists of monies due to the SSA and to beneficiaries in excess of their entitlement, as well as amounts due from the states to cover underpayments to the recipients”. In addition upward of $500 billion of CoVid loans that were cancelled – were written off against Social Security. Of that, the Small Business Administration (SBA) estimates that $200 billion in forgiven PPP loans were given ‘fraudulently’ – 40%. How lovely….
IF you had invested $100 in the S&P in 1980 (as savings) it would be worth $12,097.47 with an average annual return of 11.61%. Essentially giving the government the difference in value of 8.11% (11.61% – 3.5%). Play money for them – debt for you. And this doesn’t even touch the COST for the government to administer your annual loss. In the real world – this mismanagement of funds would be a lawsuit.
Last year, the Social Security Administration determined that inflation was 3%, therefore your benefit payment rose by just 3%. This is the data released to support the current rate of 3.8%: Food up 5.5%, shelter up 5.7%, vehicle insurance up 20.6%, medical up 1.4%, recreation up 2.1%, electricity up 3.6%, utility cost down 8.2%, gasoline down 3.9%, fuel oil down 5.4%, and personal care up 4.2% = net up 22.3% Common Core Math.
Funky numbers and faulty algorithms are costing Social Security recipients billions annually! We are being cheated in one of the largest Ponzi scams in history. And our esteemed Congress wants to raise the age of retirement for benefits while maintaining federal pensions: Under FERS, an employee who meets one of the following age and service requirements is entitled to an immediate retirement benefit: age 62 with five years of service, 60 with 20, minimum retirement age. The federal government does not just pay pensions for federal employees – it also pays for civilian employees – as in every single NGO.
Congress is asking for an 8.7% pay raise. Federal salaries have risen at double the pace of private employees since 2000. Their inflation/cost of living increases have been as much as 80% greater than Social Security – yet the age of retirement can be as low as 50 with partial benefits and 60 with full benefits. There is no discussion of aligning this with Social Security beneficiaries, or matching cost of living increases.
Not to mention ‘insider trading’ access.
It is illegal for a private person to act on insider knowledge – however, Congress is immune from this law. Any revisions to pay, pay increases, cost of living increases, trade restrictions is off the table. While these same people tell the peasants to tighten their buckle. And penalize the Martha Stewarts of the US to set an example after she cashed in and made a whopping $15,000 profit.
The first means for making insider trading legal is a quirk – “if the information is no material”. The second means is the very definition: “The Company’s officers, directors, certain employees, certain consultants and certain stockholders (and their family members) are considered Insiders.”
Despite politicians having access to full scale insider information, they are not considered insiders.
Nancy Pelosi entered politics in 1987. At the time her net worth was $33.5 million. Today that net worth has ballooned to $250 million – on insider trading. In 2018 when AOC entered politics, her net worth was $-8,500. Today, her net worth is estimated to be between $13 million and $29 million.
On Insider Trading.
In 1995 the NET cost of Illegal immigrants was considered to be roughly $12 billion. Today, housing alone for illegals is expected to reach $450 billion. Other costs including incarceration, food stamps, education, medical care, etc… can add another $200 – $300 billion – annually.
Ukraine was just given $300 million in “grant money”, better known as Monopoly Money, to buy American weapons. This is the same grant/aid exchange that the US uses with Israel to launder funds. Aid funding is on the books at over $200 billion for last year. Welfare now costs the Taxpayers $1.1 trillion – 25% of the Budget.
Social Security isn’t broke – our irresponsible, negligent, corrupt government is –
https://helenaglass.net/2024/04/10/social-security-the-big-lie/