Sunday, October 2, 2011

SSI will never receive its borrowed funds.

THE GOVERNMENT CAN LEGALLY DEFAULT ON ITS DEBT TO SOCIAL SECURITY, IF IT CHOOSES TO DO SO.

One of the least known facts about Social Security is that, although the government does have a moral obligation to pay Social Security benefits to those who have earned them, the government does not have a legal obligation to do so.
Section 1104 of the 1935 Social Security Act specifical­ly states, “The right to alter, amend, or repeal any provision of this Act is hereby reserved to the Congress.” According to the above strong language, Congress could do whatever it wanted to do with regard to changing or even eliminatin­g Social Security.
In a 1960 ruling by the United States Supreme Court, the court ruled that nobody has a “contractu­al earned right“ to Social Security benefits. In the case of Fleming v. Nestor, the Court upheld the denial of benefits to Nestor, even though he had contribute­d to the program for 19 years and was already receiving benefits In its ruling, the Supreme Court establishe­d the principle that entitlemen­t to Social Security benefits “is not a contractua­l right.”
As a result of the 1960 Supreme Court ruling, the future of Social Security is totally in the hands of Congress and the President. They have the legal authority to amend any and all parts of the Social Security Act, as well as the authority to either increase or decrease Social Security benefits.
Does any one really think that wealthy elected officials will do the right thing with your SSI contributions?  People better wake up and get ready to demand their SSI or Congress will never do the moral and honorable thing.

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