As the recent mind numbing memories of fiscal collapse diminish and the public readies itself for the next round of infighting over another potential shutdown and debt ceiling crisis, Social Security is high on the hit list for the Republican penchant to privatize. They won’t achieve a dismantling of the system – yet – but what they will try to do is leverage small bits and pieces to chink away at what has been one of the most successful programs in U.S. history.
Social security was established in 1935 by President Franklin Roosevelt during the Depression. Since that time, ending Social Security has been a “raison d’etre” for various cobbled-together factions in the Republican Party. Their continued failure to engineer its demise certainly weighs heavily on their minds as each year rolls around and Social Security is still in place and operating as it should.
The following video highlights the efforts by the Koch Brothers and their supported Think Tanks – and I use the word “think” loosely – to implant into the minds of the public that Social Security is a failure and is bankrupt. Nothing could be further from the truth. The Social Security fund has somewhere between a $2.6 trillion and $2.9 trillion balance, depending on the source consulted.