Someone recently wondered why there had not been a PDD post regarding Social Security being “bankrupt.” Here goes:
Social Security currently has a 2.5 trillion dollar surplus. This is partly due to Ronald Reagan raising SS taxes on working people. Then he started to raid the fund to make it look like he could cut taxes on the rich and corporations, bloat the military, and still “balance” the budget. Well, he still wound up turning a surplus into a massive deficit, but I digress.