Social Security is not welfare
Jul. 10th, 2011 10:12 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
bemused_leftistNational Retiree Legislative Network email:
… Kadereit [NRLN president] stressed the NRLN’s position that Social Security is not a welfare program paid for by the U.S. Government. He said Social Security beneficiaries and their employers have paid into the Social Security Trust since 1937. Every year since 1983, the payroll tax for Social Security has generated tens of billions of dollars in surplus annually. Approximately $1.7 trillion dollars were borrowed from the trust by Congress to cover other federal spending. “Our predecessors and today’s generation have built up an enormous nest egg sufficient to cover 100 percent of promised benefits for at least another 25 years,” Kadereit said. “This is why most Americans understand that Social Security is an earned and paid-for benefit, not a government welfare program!”
[NRLN has studied the latest Social Security Trustees report prior to issuing this statement.]
… Kadereit [NRLN president] stressed the NRLN’s position that Social Security is not a welfare program paid for by the U.S. Government. He said Social Security beneficiaries and their employers have paid into the Social Security Trust since 1937. Every year since 1983, the payroll tax for Social Security has generated tens of billions of dollars in surplus annually. Approximately $1.7 trillion dollars were borrowed from the trust by Congress to cover other federal spending. “Our predecessors and today’s generation have built up an enormous nest egg sufficient to cover 100 percent of promised benefits for at least another 25 years,” Kadereit said. “This is why most Americans understand that Social Security is an earned and paid-for benefit, not a government welfare program!”
[NRLN has studied the latest Social Security Trustees report prior to issuing this statement.]
