You pay your Social Security taxes right? Of course, you do (if you're working) ... it's not like it's optional.
So how is your investment in your future well-being doing anyways?
The way all the Austerity Hawks are squawking -- you'd think Social Security itself, is about to join the ranks of the Homeless ...
Afterall that's what usually happens when you "Go Broke" ... you end up on the street, stunned, and desperate.
So how IS your Retirement Contract with your Government, doing anyways?
Social Security -- Trust Fund Data
Old-Age, Survivors, and Disability Insurance
as of April 12, 2011
(Amounts in MILLIONS)
Fiscal year
|
Total income
|
Total outgo
|
Net increase in assets
|
Assets at end of fiscal year
|
2001
|
$595,913
|
$432,926
|
$162,987
|
$1,169,741
|
2002
|
614,977
|
455,910
|
159,067
|
1,328,808
|
2003
|
630,253
|
474,721
|
155,532
|
1,484,340
|
2004
|
646,628
|
495,525
|
151,103
|
1,635,443
|
2005
|
696,757
|
523,279
|
173,478
|
1,808,922
|
2006
|
733,728
|
548,492
|
185,237
|
1,994,158
|
2007
|
585,311
|
548,492
|
186,461
|
2,180,619
|
2008
|
802,689
|
617,017
|
185,672
|
2,366,291
|
2009
|
807,007
|
669,686
|
137,321
|
2,503,612
|
2010
|
787,961
|
706,250
|
81,710
|
2,585,323
|
Data Source:
Office of the Chief Actuary -- Social Security Online
Pay special Attention to that last column, and the last number in the last column,
THAT is the Social Security Trust Fund Surplus -- and that number is in MILLIONS!
The Social Security Surplus is $2,585,323,000,000 -- or $2.6 TRILLION DOLLARS!
Read down that last column, and notice how the Surplus number just keep Growing. The Assets just kept growing over the last 10 years, as long as the Economy was growing, anyhow ...
The Economy may have a Problem now, and Congress may have a Problem RAISING Revenues NOW ...
BUT Social Security does NOT have a Problem NOW -- it has a $2.6 Trillion Surplus.
(that's some kind of problem!)
And those Trillions are yours and mine, my friends, ... that is as long as we don't let those Fiscal Geniuses in Washington, whittle it all away for us.
Afterall when THEY took all those Deductions from our paychecks over a Lifetime of work -- there was a Social Contract promising us Security one day -- that we would one day be given, in exchange for our unflinching, weekly contributions.
So for all you Congress Budget Hogs -- with huge snouts and huge appetites --
No Take Backs NOW -- WE -- the American People -- had a Deal!