---In an effort to show this is an opinion and not a fact that should divide the US, let’s consider there may be another interpretation.
During the Debate on 10/28/2015 a former minister, and other candidates, stated that the Government stole your money that was in the Social Security Trust Fund. Since no other candidate questioned this statement an uninformed listener could have reason to question the government. Please read on to see where the “money went.”
The majority of retired people who have money in their 401(K) or IRA want that money to earn interest. Many also want that investment to be safe. During the recent recession many people moved their funds from volatile investments, such as stocks and corporate bonds, to what many believe to be the safest investment in the world-- Direct obligations of the US Treasury. These are still considered the most secure investment in the world. After over 30 years in the investment industry I have found there are numerous reasons to believe Treasuries are the safest investment.
Would anyone like to guess which investments the Social Security Trust fund is limited too? You are correct “direct issues” of the US Treasury, the safest investment in the world. SS Trust policy is found here:https://www.ssa.gov/oact/progdata/specialissues.html.
Could this be considered self-serving for the government, probably, but it is still safer for future SS recipients than private bond issuers! The government borrows these funds, along with the other Treasury bond proceeds, and promises to repay them with interest at maturity. If that is theft then every country, and most corporations, are also guilty.
In conclusion I will not yell, accuse or abuse those who stated this is “government theft”. For whatever reason they chose these incendiary words, that is their constitutional privilege. This post was meant to show the rest of the story. Personally, it appears if you are fully informed this issue isn’t worth hating anybody over.
You may now be interested in whether the Government will be able to meet its’ obligations in the future, we will discuss this in the next posts.