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Alcoa Inc. Message Board

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  • notarethug notarethug Nov 20, 2006 8:53 AM Flag

    Social SecurityTrust Fund Fact

    <Every single penny of your payroll deduction for FICA goes into a General Fund and is spent almost immediately on current budget and non-budgetted items. Period.>

    Actually the SS Trustees' report for 2005 shows that Social Security paid out benefits of $520.7 billion amounting to 87.8% of the $592.9 billion net contributions (mostly FICA payments). That $520.7 billion never entered the General Fund.

    The amount entering into the General Fund last year was the $171.8 billion SS SURPLUS. That amount was wasted by the Bush administration on the Iraq occupation and other expenditures authorized by the Republican Congress in cahoots with the evil and incompetent Bush administration.

 
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