Liberal Nightmare? Lyndon Johnson Started the “Raid” on Social Security $$ for Other Government Programs. Jimmy Carter Expanded Big Government. Obama’s Got the Shovel.

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Make sure to watch video at the end of this post

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Social Security: The main talking points today.

President Franklin Roosevelt’s proposal for an overwithholding slush fund

The Social Security Act was drafted by President Franklin Delano Roosevelt‘s committee on economic security, under Edwin E. Witte, and passed during FDR’s first term which provided for workers who reach the age of 65 a pension of $8 a week at most. The plan had to be pushed through against FDR’s procrastination until finally in the 1934 congressional elections the Republicans denounced him for his tardiness. When FDR finally consented to a bill, it contained a plan for building a huge reserve fund that would extract billions from the workers’ payrolls without any adequate return. Over the protest of the President, the Congress finally took that provision proposed by Roosevelt out of the law. [5]

President Lyndon Johnson raids the Social Security Trust Fund to wage the Vietnam War

President Johnson created the ‘unified budget’ in the late 1960s to disguise the real cost of the Vietnam War.[6] [7] President Johnson did not want to ask for income tax increases to pay for several ambitious government programs of that era (the Vietnam War, the Great Society War on Poverty, the NASA Space Race). Putting surpluses from Social Security overwithholding “on budget” (adding them to the general operating budget of the United States Government) so the overwithholding could be used to pay for other government programs would make the federal budget appear balanced. The resulting debt to Trust Funds would be presented “off budget.”

In 1967 President Johnson appointed a Commission on Federal Budget Concepts which in its October 1967 report proposed a unified budget to do this. Johnson submitted the first unified budget to a Democratic Congress for Fiscal Year 1969 scheduled to begin on July 1, 1968. Thus was born the practice of using Social Security Trust Fund surpluses – or “Intra-governmental Holdings of Debt” to hide the size of the overall federal deficit.

Who put the limits on those with Social Security to earn $$$?

The Clinton/Gore Tax on Social Security benefits

In 1993 President Clinton sought to increase taxes on Social Security benefits of the elderly and disabled.[9] The final version of the bill passed by the Democratically controlled Congress increased taxes on beneficiaries from the first 50% to 85%[10] of benefits (or “annuity payments” as they were originally called)Vice President Al Gore cast the deciding tie-breaker vote in the Senate to make the tax increase law.

The Clinton-Gore tax increase on Social Security benefits imposed a 70% income tax rate on a retired couple making as little as $22,000 per year.[11]

In 2009 conservatives attacked the Democrats health care reform program because it reneged on promises made to Medicare beneficiaries.

LINK with references:

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ADD THIS:

AL SHARPTON BLOWS GASKET ON THE AIR AFTER CALLER SLAMS HIM FOR SPREADING LIES ABOUT THE DEBT CEILING

Yes, there definitely must be something in the air, as key Democrats seem to be coming apart at the seams lately with a string of rants directed against Republicans. This week alone there has been a kind of explosion of such tirades. Following suit, Rev. Al Sharpton also had his own bona fide meltdown after someone called in to the radio segment on which Sharpton appeared to slam the reverend for allegedly propagating lies about the debt ceiling.

The caller, who told Sharpton that he had marched for him and voted for then presidential candidate Barack Obama, told Sharpton that he was “deceiving” people about Social Security.

“Social Security has nothing to do with raising the debt ceiling,” the caller said. The caller said that Social Security comes out of people’s taxes and is set aside for that purpose, hence, Obama would indeed be able to cover Social Security payments.

Sharpton responded by alleging that a government default would make it so that the President might not have enough money to “cover” all his “bills,” Social Security being one of them. The caller then criticized Sharpton for not “clarifying” his stance to the American people and told the reverend that some of what he was saying about Social Security “is false.”

That’s when the already agitated Sharpton really started to lose his cool, slamming the caller for “misleading” people with “double talk.”

But the caller fought back, scolding Sharpton for “cutting him off,” all the while pressing Sharpton to let the people know “the truth.“ The caller told the reverend he needed to tell people the ”repercussions of raising this debt” and accused the reverend of failing to do so.

LINK

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WHO actually enhanced BIG Government expansion?

Answer:  Jimmy Carter

As president, Carter created two new cabinet-level departments: the Department of Energy and the Department of Education. He established a national energy policy that included conservation, price control, and new technology. In foreign affairs, Carter pursued the Camp David Accords, the Panama Canal Treaties, the second round of Strategic Arms Limitation Talks (SALT II), and returned the Panama Canal Zone to Panama.

Throughout his career, Carter strongly emphasized human rights. He took office during a period of international stagflation, which persisted throughout his term. The end of his presidential tenure was marked by the 1979–1981 Iran hostage crisis, the 1979 energy crisis, the Three Mile Island nuclear accident, the Soviet invasion of Afghanistan (at the end of 1979), and the 1980 eruption of Mount St. Helens.

By 1980, Carter’s popularity had eroded. He survived a primary challenge against Ted Kennedy for the Democratic Party nomination in the 1980 election, but lost the election to Republican candidate Ronald Reagan. On January 20, 1981, minutes after Carter’s term in office ended, the 52 U.S. captives held at the U.S. embassy in Iran were released, ending the 444-day Iran hostage crisis.[3]

More with references HERE…..

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So WHO actually started the problems with Social Security?

WHO is actually responsible for EXPANDING and growing BIG Government?

BUT the Republicans and Conservatives are the bad guy in this debate?

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H/T Union News

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Are people starting to realize the Hype handed them by Obama and Al Sharpton?

Will there be an up-swelling of support for the Tea Party?

WATCH:

Link to video

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