That was 30 years ago,we had his good friend MARGARET THATCHER that ruined generations of businesses, families, industries and countries with her "gung Ho" economic policies, the whole WORLD has to pull together on this crisis or ALL the world "Super powers" are going to the dogs.
WOOF WOOF!!

Time makes no different in Social Security. Whether it's 30 years ago or today, social security is still payed by the employee out of their pay check, it is not money taken from the government budget.

All depends on where the incumbent Gov decides to invest it, it's a money LOTTERY,they don't just take it from the people and pay it directly back to "the people" they play games with it first!

It should never be allowed. The SS system was not designed to be a savings account for the GOPs to use whenever they wanted. Dang thieves.

The problem is that the SS Trust funds by law must be put in the US Bonds.

Those bonds are then considered a ASSET in the Budget and only the interist due in thirty years iconsidered a debt.

However because government is spending a trillion dollars more a year than the US Treasury takes in, the debt side is mway out of balance.

Because SS is csshing in more Bonds than it is buying, the SS funds are depleted and the Democrate controlled Senate has failed, for FOUR years as required by the Constitution, to pass a bugjet. As a result the debt to SS can not be paid

Reagan raised the debt ceiling 18 times during his stay in office.

Better than cutting social security. Obama wants to do both. Cut social security AND raise the debt ceiling AGAIN along with the fact he is refusing to cut any spending at all.

Presidents do not have the authority to "Raise the Debt Limit," only the Congress can raise the debt limit.

In any event, the Debt Limit is not the problem, spending more than we should is the problem that get us to the point were it become necessary to raise the Debt Limit.

The tax cut enacted by the Congress under Bush and continues under Obama, resulted in an expansion of the economy that produced MORE income to the US Treasury than any other time in our history, not less
,
The problem today is not the income to the Treasury but the spending by the Democrats since they took Controll of the Senate in 2006.

That deficit spending is the reason we have been adding over a TRILLION dollars to the Nation Debt EVER year for the past five years.

Our children and grand children will be paying off that debt and we will all be paying MORE and MORE every year for all of the products and services we use, in addition to the ever growing cost of our Medical care, because of the so call "Affordable Healthcare Act." The new taxes to pay for the ill-conceived law. We will pay even more when it becomes fully implemented in 2014.

God help America, we are becoming like Greece and the rest of Europe headed to bankruptcy.

The leaders of both major parties, Congress, the White House, the editorial writers, journalists of all the principle newspapers and most academic economists claim that Social Security and Medicare need to be reformed in order to reduce the "unsustainable" fiscal deficit and avoid the bankruptcy of those social programs.
An important aspect of this elite propaganda campaign is the perverse manipulation of the nature of these two programs.
They are dubbed "entitlement programs" implying some sort of government handout or indivitual privilege.
In fact social security is a form of social insurance paid for through payroll tax deductions throughout the working life of the contributers, which usually approximates a half-century.
The "entitlement rethoric claims that the lifetime contributions are insufficient and that several reforms are nececarry to "save the system"-at the expense
of the beneficiaries.
The so-called "Grand Compromise" proposed by President Obama and the Fiscal Reforms" proposed by the Congressional Republicans are all aimed at robbing working class contributers of theire pension savings through various specific regressive changes.
For decades only, a small fraction of Social Security contributions are used to pay recipients, the bulk is transferred into the general treasury to pay for current expenditures- mostly hundreds of billion of dollars in war spending
Over the decates the Treasury robbed several trillion, payments on bonds and T-notes, subsidies to agro-business, bailouts to Wall Street speculative investment banks and other elite economic interests.
The Trasury robbed several trillions in SSI funds, exchanging them for IOUs(never reimburst) in order to provide a kind of "social insurance for the military-industrial-Wall Street-police state power elite.
A bi-partisan Comittee apointed by Prs. Obama Proposes to raise the age at which SS beneficiaries can begin to collect full pensions from 65 to 67 years. According to US. Government Stats., 330.096(158.038 men and 172.061 women) elderly individuals die between the ages of 65 to 67.
By raising the age for SS benefits to 67, the Government will deny(robbing) hundreds of thousands of SS beneficiaries of a single social insurance payment after nearly a half of century of contributions.
In other word
s, Obama and the Republican Congress will save the SS system, by denying payments to its lifetime contributers. By raising the age of SS benefits, the political elite are in fact sentencing more than half of American workers to die prior to 67 years to "work till they die"
If anyone cares to read the rest:
The article: The Great Social Security Robbery" by James Petras
99GetSmart

The SS Bonds are carried as an Asset in the Annual Budget, only the interest due, is carried as a Debt.

The SS bond money can be used to pay current expenses and the debt portion is added to the Nation debt, to be paid when the SS thirty year bonds come due.

The problem is the fact that current SS bonds are being redeemed at a greater rate than the rate at which new Bonds are being purchased by the SS Administration.

Unless that is addressed the SS trust funds will be depleted.

The best answer would to be to return the Bonds back to being ones person bond, as originally envisioned by FDR.

The problem is the Dimocrates have convinced the voters that would be "Privatizing" SS, which would stop them for spending your money to buy more votes, as they are so often want to do.