SECURITY: System badly misunderstood

SOCIAL SECURITY AIN'T BROKE. The Social Security administration is SEPARATE from the Treasury Department which funds other government functions. SS has $2.5 trillion in Treasury Bills (T-Bills) in its vaults and by 2023 it will have $4.6 Trillion. Social Security is collecting hundreds of billions more than it is paying out. Treasury Bills are considered the safest investment in the world, so what's the problem? Better, what are the problems?

Government has only two ways to raise money to pay for its general operation budget - taxes or borrowing. The cowardice of politicians refusing to raise taxes forces government to borrow. It's not rocket science. If we want to fight wars, give trillions in tax breaks to banks, Wall Street and the fabulously rich, the national debt is going up. Every tax break given one special group guarantees some other group pays the price. The lost tax revenue is covered by borrowing, from Social Security, your pension fund, or China.

The richest 20 percent of people in America own 90 percent of the wealth and a similar portion of national income. They pay little into Social Security, based on wages. Their UNEARNED income - dividends, interest, capital gains and subsidies - are not assessed for Social Security. Wages and salaries of working and middle class men and women are assessed.

Social Security DOES NOT ADD TO THE DEFICIT.

By Law, Social Security funds are ENTIRELY SEPARATE from funds Treasury uses to pay for other government operations. That means that Social Security can't add one penny to the deficit.

Actuarial projections indicate Social Security may start paying out more than it's collecting in 2028. That doesn't mean it's broke. It means SS will start cashing in Treasury Bills. When that happens, Treasury will have to borrow money elsewhere, or (MY GOD), raise taxes on the fabulously rich. THAT'S WHAT REPUBLICANS AND BLUE DOG DEMOCRATS WON'T ADMIT.

J. ALBERT ROWE

Coeur d'Alene