Tag Archive | "general fund"

General Fund, Entitlements, & The Social Security Lockbox Hoax

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When you hear the word, “general,” what is your first thought?  As a former military man, I associate this word with the United States Army.  It brings to mind the Generals, both past and present.


The Generals that led us to victory through many conflicts were men of superior rank.  However, the word “general” can also be defined as a mediocre group of things, like a store with many different items for sale.


In my opinion, the greatest general of all would be General Fund.  He is associated with governments because he has been assigned to endow our society with monies to balance budgets, wage wars, build bridges to nowhere, and line the pockets of our political leaders.  General Fund should have received the Congressional Medal of Honor with Oak Leaf Clusters for distinguished service above and beyond the call of duty!  Here’s why.


Social Security was a plan by which the gainfully employed could exit the workforce, upon retirement age, with pensions to enjoy their Golden years.  Funded by American workers, monies allotted to Social Security were placed into a fund, like a ripe plum waiting to be plundered.  And plundered they were by our illustrious leaders.


During his bid for the Presidency, Al Gore announced that the Social Security lockbox was full of IOUs.  Fast forwarding to the present, we now we hear people embedded in government state that we must reform the worker-funded entitlements (Social Security and Medicare) because the government is broke! 


The funds contributed by American workers should have been protected.  They should have been used for the sole purpose for which they were intended.  They should not have been put into a general fund to be raided by politicians seeking votes from special interest groups.  The plan’s intent was to provide an annuity, not an entitlement, for anyone who had paid into it.


The real entitlements requiring reform are the self-endowments of government officials.  These include a pension and other benefits after only one term in office.  By contrast, workers had to toil for many years to receive Social Security benefits at the maximum limit.  The American people have been led down the garden path of believing that their investments were secure, not like Bernie Madoff’s plan for the future.  But at least Bernie was jailed for his crimes.


Pension money contributed by workers and matched by employers is used to run businesses.  Subject to strict conditions, the money only becomes available upon retirement.  As Sarah Palin extols, government uses OPM (Other People’s Money) and when it’s gone, they go bankrupt.


I guess the best definition of a general fund can be ascribed to a Hollywood character. In the film, Forrest Gump, the main character is told that had sustained million dollar wounds in military combat.  His reply was, “I don’t know what the government did with that money, because I have never seen a penny of it.” 

 

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