Another story you may not see in the main stream media

Investor’s Business Daily notes another report that is missing in action – or non-action.

Every year, the Annual Report of the Social Security Board of Trustees comes out between mid-April and mid-May. Now it’s July, and there’s no sign of this year’s report. What is the Obama administration hiding?

The annual report includes detailed information about Social Security and its financing over the next 75 years, produced by the Office of the Actuary of the Social Security Administration.

The Congressional Budget Office reported last week in its Long Term Budget Outlook that Social Security was already running a deficit this year. According to last year’s Social Security Trustees Report, that was not supposed to happen until 2015, with the trust fund to run out completely by 2037.

Missing or lack of progress, seems to have become the norm rather than the exception. Just look at the last, and only entry, by the House Budget Committee – March 2010!

No FY 2011 budget from the House this year because Speaker Pelosi won’t bring it to the floor – first time since Budget Act of 1974. Don’t they realize these type of maneuvers make it MORE likely Republicans will take control of the US House? Back to the Social Security report.

Every year, the federal government has been raiding the Social Security trust funds to take that annual surplus and spend it on the rest of the federal government’s runaway spending, leaving the trust funds only with IOUs backed by nothing but politicians’ promise to pay it back when it’s needed. Now even that annual surplus is gone. How soon will the trust funds run out completely now?

Youngsters should pay attention to the bold text above. Never ever vote for, or support, a “Trust” for your benefit by any level of government. They always get RAIDED!

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