What do you figure the word “Entitlements” stands for?
Maybe it means old people feel they are entitled to receive money from the government after they reach a certain age.
Or maybe it means after people work their entire lives and contribute money to Social Security and Medicare that they are entitled to receive some of their money back after they retire.
Either way, where do these old folks think all this moolah is coming from? Can the federal budget be balanced while these freeloaders siphon off tons of cash from the government?
Here are the facts. Read carefully so this sinks in.
Social Security is NOT part of the budget. It sits in a fund that was set up when Social Security was created. (That is unless the government hasn’t misappropriated the money to use for other purposes. I remain hopeful that hasn’t happened, but maybe I’m an optimist.)
According to Paul Owens writing in the Orlando Sentinel on May 6, 2011 … Congress has been raiding the Social Security trust fund for years… To read his entire article go to Orlando Opinionators.
Over the years, Social Security has collected more money than it has paid out. The surplus funds have been invested in U.S. Guaranteed Treasury Bonds. AARP states that in 2009, the trust fund had $2.5 trillion in bonds, earning 4.9 percent interest.
Perhaps the finger-pointing should be aimed at Congress — not at Entitlements.