Resident upset over government’s raid on Social Security

Workers have diligently funded the Social Security Trust Fund through payroll taxes only to learn that our government has borrowed most of the money, and the repayment of it, plus the interest it has earned, is questionable. Why?

My understanding is that President Bush’s Commission on Social Security Reform has produced a report that declares that these vast accumulated assets aren’t real and don’t count as resources available to pay future benefits. The lock box is filled with Treasury bills and bonds, each bearing interest, the money having been borrowed and spent by our government on other things. Since when are we to be told that our government won’t meet its obligations on behalf of retirees? This makes no sense and is totally immoral. Are we going to tell foreign holders of U.S. bonds to go fly a kite?

Where do you stand on this, President Bush? Are you content to stand idle while some sort of poorly informed debate rages over saving Social Security, while our government fails to publicize that it owes the trust fund perhaps a trillion dollars?

Ray Holm

Westlake Village