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Social Security | Already Bankrupt
A guest blog by Patriot, Alex Hamilton:
As I was going over the US treasury budget charts for the fiscal year 2015, I was reminded of something that I believe all Patriots should know.According to the United States Treasury Department, Social Security is already bankrupt. Now they will not tell you that they are bankrupt but if you study the charts at the following web site you will find what I am saying is true.
Below is the link to the 2015 US budget charts:
https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/
During the 2015 fiscal year the US treasury collected 1.07 trillion dollars in Social Security and Medicare taxes.
During the 2015 fiscal year the treasury spent a total of 2.33 trillion dollars on Social Security and Medicare expenses.
This means the treasury spent 1.26 trillion dollars more on Social Security and Medicare and other health than it took in from Social Security and Medicare taxes. That is the definition of being bankrupt.
The breakdown was as follows:
1.28 trillion dollars was spent for Social Security, employment and labor.
Why is “employment and labor” included in Social Security spending?
1.05 trillion dollars was spent on Medicare and other health expenses.
Why is “other health expenses” included in Medicare spending?
Unfortunately my fellow Patriots this over-spending is going up every year with no solution being presented by either party. Meanwhile we are 19 trillion dollars in debt and still no one is presenting a solution.
This debt means that your household now owes $152,000.00 to help pay off this debt. Do you have that much money lying around somewhere? If you are like me, you don’t.