TRUST?
I need an answer to a political question.
What, exactly, in plain English, does the term:"Trust Fund" mean when is used in relation to the Social Security program under which we have been living for these many years? I have yet to be given a clear picture of exactly what it was originally intended to be or to accomplish in time. If not, it would seem we are justified in asking for some explanation as to why it has not done so, is not working out as planned, or if it is a downright fabrication which allows other ends to be achieved without condemnation.
By keeping the Trust Fund as a internal secret, the agency has done the entire nation a great disservice. By allowing other parts of the governmental machinery to "legally" drain off earnings of the two established trust funds as they wished can be seen only as an intended means of built-in wrongdoing. The technical facts which make it all seem to be a legal activity does not make it "honest", however. Common decency required that it be corrected. It would, in a practical sense, be unwise for us to try to punish those who did the original wrong, but we should be able to bring an immediate halt to the pilfering of designated trust funds for other uses in the governmental system.
The future of the entire Social Security System depends on our willingness to do so. The books are being "cooked" in street parlance. It must be stopped.
There are two such Trust Funds known as: "OASI" and "DI". All "Old Age and Survivor Benefits" are paid from "OASI.". All "Disability Insurance" are paid from "DI.".
The assets of the larger trust fund (OASI) was almost totally depleted as recently as the year 1982. No beneficiary was shortchanged because the Congress stepped, jerry-rigged, and quickly passed "temporary, emergency" legislation which enabled the federal to borrow. The funds borrowed which brought the Trust Fund so close to extinction were, it appears, paid back four years later.
We can all learn that much simply by looking at semi-public records, but I would like to know to what extent they compensated for the use of their accumulated funds. We should have available public records showing exactly how the funds are fairing at all times. Their management should not be a a political football to tossed about or kicked around at will.
Go back to l982. Check out who was "in charge" at various levels of our governmental structure if you wish to determine who has caused difficulties in the past - and judge with known facts in mind.
A.L.M. January 30, 2005 [c452wds]
