Myths, half-truths and exaggerations about SS

[liberal N proud]

Here are just 5 swirling around the Social Security reform debate.
January 14, 2005: 4:26 PM EST
By Jeanne Sahadi, CNN/Money senior writer

ON CNN-Money web site no less!

http://money.cnn.com/2005/01/13/retirement/straight_dope/index.htm

Half-truth/exaggeration: Social Security is going bankrupt. Social Security is not going bankrupt.

Half-truth/exaggeration: The system is facing an $11 trillion shortfall.

Half-truth/exaggeration: There is a surplus. There is not a surplus.

Myth: Benefits will be cut for today's retirees.

Myth: Social Security benefits are guaranteed.

Excerpt form There is a surplus, There is not a surplus.
Here's what we know: Social Security has collected more than it has paid out for 20 years.

The excess money has been loaned to the U.S. Treasury in exchange for special-issue Treasury bonds.

[stevebreeze]

1. remember how outraged the GOP was when the income tax had surplus

Americans had overpaid! lets give it back to the fat cats! WORKING Americans have overpaid for 20 year now the GOP wants to "fix" the system so that it all stays in the pockets of the wealthy and does not get repaid to finance SS as was intended.