The Mudcat Café TM
Thread #131082 Message #3004401
Posted By: artbrooks
11-Oct-10 - 09:47 AM
Thread Name: BS: Who Owns your Social Security?
Subject: RE: BS: Who Owns your Social Security?
The Social Security monies are held in the form of interest-earning government securities. The most recent rate of return available (2007) was 4.656 percent - which is a whole lot better than my bank is paying. Technically, the money paid in is "borrowed" by the government, and this is the interest on the "loan". This has been true of every administration since the program began.
BTW, illegal (and other) foreign workers can get driver's licenses in New Mexico, where I live. IMHO, this is vastly preferable to having people out there on the streets who have never taken a driving test - the ones who have passed the test are bad enough. If you want to have a national ID card to prove citizenship then institute one, but don't make something intended for one purpose serve another.