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short HISTORY OF SOCIAL SECURITY
posted at August 17, 2012 8:10 AM EDT
First: February 29, 2008
Last: May 17, 2013
From 1983 until just around the turn of the century, Social Security revenues actually lowered the Treasury’s need to borrow in the public markets, as excess payroll taxes collected under Social Security’s flag helped fund other government programs. Money that was put into SS was FIRST robbed by R Reagan years ago .
http://www.ssa.gov/history/briefhistory3.html Suggest you read the LONG History such as the early 1980s the Social Security program faced a serious short-term financing crisis. President Reagan appointed a blue-ribbon panel, known as the Greenspan Commission, to study the financing issues and make recommendations for legislative changes. The final bill, signed into law in 1983, made numerous changes in the Social Security and Medicare programs, including the taxation of Social Security benefits, the first coverage of Federal employees under Social Security and an increase in the retirement age in the next century. (Summary of the provisions of the '83 Amendments)