Friday, April 29, 2016

Social Security Benefits program is not the problem with deficit

Posted on Dec. 26, 2012 at 12:00 a.m.

Social Security is not the problem with our deficit. Over the years a surplus has been paid in for Social Security, but our government took this surplus and spent it (not on Social Security) so now it is saying that Social Security is one of our problems with the deficit.

Our government implemented a payroll tax cut to give those working more money to spend. This payroll tax cut was taken out of the Social Security tax that each worker has been paying. This reduces the amount going into Social Security and makes the Social Security payments versus Social Security income look worse.

Now our government is looking at adjusting the method for calculating the inflation figures (meaning smaller cost of living increases) for increasing Social Security payments to keep up with inflation.

If you care about the future of Social Security as it pertains to you, contact your congressmen and let them know how you feel about the future of Social Security.

Keith Martin