Bud's Beat

By: Bud Pisarek, Loomis News Correspondent
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I have been bothered by the distortion of facts about the country’s Social Security program. Critics of the program have been clucking like Henny Penny that S.S. is broke and the sky is falling. Not so. A recent article in the AARP tabloid newsletter sets the record straight. Conservative politicos have lambasted this country’s greatest social program as a failure since its inception. On the contrary, Social Security has been a successful government program. The author of the article is James Roosevelt Jr., grandson of President Franklin Roosevelt. FDR got legislation passed to launch SS in the 1930s. In the article, Roosevelt says: “Let’s take a true measure where we are; Social Security has not only been the most effective government program, it has been the most responsible government program. “Social Security costs are funded out of its own dedicated revenue stream. It does and cannot borrow money to finance its operations. There is no deficit financing. “By the end of 2010, the Social Security trust fund had a positive balance of $2.6 trillion … the fund’s surplus will continue to expand to approximately $3.67 trillion by the end of 2022. “This is decidedly not a program that is broke or going broke. In fact, this is quite a remarkable achievement.” Another false rumor making the rounds was that with Baby Boomers reaching retirement age the system would collapse. Don’t worry, Baby Boomers, your security blanket is there for you.