Friday, June 16, 2023 | 2 a.m.
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Social Security is in the news again, as both parties claim different ways to either fix it or abolish.
The Social Security trust fund is in need of a fix. The GOP would like to abolish it, the Democrats would like to fix it — by increasing the retirement age, raising the rates, or both. But few mention the trust fund being raided.
Former President Lyndon Johnson raided Social Security to help pay for the Vietnam War, and former President George W. Bush raided it to help pay for the Iraq and Afghanistan wars.
Today, Social Security is owed $2.7 trillion. Perhaps the money owed is a big part of why the trust fund is in a financial bind. Neither party talks about the $2.7 trillion that was siphoned from Social Security and never paid back.
It’s time to come clean about the real reasons for Social Security’s decline in revenue.
