The following are links to articles relating to Social Security.
What’s interesting is that most of the information that came out to forcefully argue that Social Security was unsolvable came from sources that are usually very protective of the government.
The main reason why the President himself and his allies suddenly came out in public to assert that the U.S. Government’s IOUs have no value was that they wanted the huge sums generated by the Social Security tax to be invested for the benefit of corporations.
What they don’t say is that the plan they propose would further deplete the Social Security funds.
Bloomberg: What’s in the Social Security Trust Fund? ‘Paper, Bush Says.
http://quote.bloomberg.com/apps/news?pid=10000103&sid=av8Zsx0M7.4M&refer...
Wikipedia: In 2018, Social Security will start redeeming its assets.
http://en.wikipedia.org/wiki/Social_Security_Trust_Fund
A Heritage Foundation article from 2004 explains in very clear and simple terms that there is no money in the Social Security trust fund and, mainly, that the funds necessary for future payments no only aren’t in the fund, but they haven’t been invested anywhere. Of course, this article was written for the purpose of arguing for privatization of Social Security. Some corporations would love to be the ones receiving the hundreds of billions of dollars that U.S. citizens pay in Social Security taxes every year.
http://www.heritage.org/Research/SocialSecurity/em940.cfm
A 1999 Cato Institute article with arguments identical to the Heritage Foundation.
http://www.cato.org/dailys/10-16-99.html
The Future of Freedom Foundation: same argument as previous two.
http://www.fff.org/comment/ed0901j.asp
Zfacts article, refuting the Heritage Foundation and the Cato Institute assertions: the situation isn’t that bad, but it would be worse with privatization.
http://zfacts.com/p/784.html
An American Prospect article by Dean Baker, preceded by an introduction by Jeff Weintraub.
No need for the proposed Social Security payments cuts. The bonds are IOUs that must be repaid.
http://jeffweintraub.blogspot.com/2007/01/straight-talk-on-social-securi...
An excellent 2005 MediaMatters article.
If the Social Security trust fund doesn’t exist because it is in the form of government bonds, does that mean that all debts owed to the private sector by the government are also worthless? The decision to raise the Social Security tax in 1983 was proposed by Alan Greenspan exactly for the purpose (or the excuse) of planning for when more money would need to be paid out than the tax would bring in.
http://mediamatters.org/items/200502040009
A Michael Hodges analysis of the link between Social Security and the Federal Deficit.
http://mwhodges.home.att.net/deficit-trusts.htm
Truthout article by Dean Baker addressing the myths of the Social Security Trust Fund.
http://www.truthout.org/cgi-bin/artman/exec/view.cgi/61/20540
University of Illinois: Social Security is not in crisis.
http://www.news.uiuc.edu/news/05/0513socialsecurity.html
CounterPunch article, by Jackie Corr:
In 2001, Bush said he would protect the social Security Fund.
In 2005, the money is gone.
http://www.counterpunch.org/corr03102005.html
A Cato Institute article arguing that government should not invest Social Security funds, and that the investment should be left to private individuals themselves.
In fact, a study on IRA investments has shown that most people who manage their own retirement portfolio end up losing much of it.
http://www.cato.org/pubs/ssps/ssp6.html
Government Social Security FAQs:
http://www.ssa.gov/OACT/ProgData/fundFAQ.html
Stochastic Forecasts of the Social Security Trust Fund.
http://mwhodges.home.att.net/deficit-trusts.htm
General Accounting Office 2003 report:
http://www.gao.gov/new.items/d031038t.pdf
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