“It gets worse. A big part of this started in 1964, when the Imperial City decided to move Social Security “Trust Fund” receipts into the general fund. This meant that our elected officials were free to spend that money, as they usually do, to buy votes, and that since then the Social Security “Trust Fund” has not existed; it’s a box full of IOUs from a government that is thirty-two trillion dollars in debt. In case you’re wondering, that’s about a quarter-million dollars per taxpayer.”
Source: Rule Five Social Security Friday
