Breaking News

Mayor Struemph won't seek re-election October 23, 2014

Your Opinion: Scare tactics

Dear Editor:

Why does Don Fleener hate Social Security? Why is he tarnishing a great achievement of Ronald Reagan? It was Reagan and Greenspan who designed the current system to make SSA solvent by raising payroll taxes and giving the SSA Trust Fund U.S. Treasury notes. Mr. Fleener is saying Reagan was a failure.

Movement conservatives try to paint the Social Security system as having a problem. Well, not until 2038 before which something very simple could be done to shore up the system. There is no current problem with Social Security but attacks on system solvency continue. They are all politically motivated.

I understand the issues Mr. Fleener but I admit I do not understand you. To say our money is not in the system is like saying the money I put in the bank last week is not there. Well, of course that exact money may not be there. Banks use my money to loan to other customers for economic reasons. They are required to have a certain amount on hand for redemptions. But I will not be redeeming the exact dollars I put in the account. Thus in the minds of conservatives a Ponzi scheme is born. Childish!

For the next 25 years baby boomers will be receiving monies from payroll taxes and the SSA Trust Fund as Reagan and Greenspan designed it. This is not a crisis for SSA. If the monies had not been borrowed from SSA they would have been borrowed from other sources to fund congressional actions.

Fleener is saying America is a failed nation. We cannot honor our debts. The Tea Party tried to bring that off recently in the debt ceiling issue. For a century the debt ceiling was raised automatically because inflation is a factor in economics. I believe President Obama should have allowed the catastrophe to occur because we have only kicked the (confrontation) can down the road. But this president is not a gambler. He then should have said daily who brought the disaster about. That alone would have cemented his re-election.

During the debt ceiling issue the president was saying failure to act would cause a cash flow problem. There would not have been sufficient funds on hand to pay all current debts. Do we pay China first or SSA recipients? Willful ignorance refuses to understand. Why are conservatives trying to scare citizens over bogus Social Security issues?

Issue-oriented letters to the editor in response to this or about other local topics are welcome. All letters should be limited to 400 words. The author's name must appear with the letter, and the name, address and phone number provided for verification. Letters that cannot be verified by telephone will not be published. Send letters for publication to editor@newstribune.com

Comments

Use the comment form below to begin a discussion about this content.

Please review our Policies and Procedures before registering or commenting

News Tribune - comments