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Reagan caused Social Security problems

The Social Security Trust Fund represents a legal obligation of the federal government to program beneficiaries. Government has borrowed nearly $2.8 trillion as of 2014 from the trust fund and used the money for other purposes.

Ronald Reagan ran through Congress amendments on April 20, 1983, and it has become a day of shame. The Social Security amendments laid the foundation for 30 years of embezzlement of Social Security money in order to use the money for wars, tax cuts and other government programs. Ronald Reagan's supply side economics (trickle-down economics) was an abysmal failure; so he had to find money from another source. That source was Social Security.

The payroll tax hike of 1983 generated a total of $2.7 trillion dollars in surplus Social Security revenue. This surplus revenue was supposed to be saved in marketable U.S. treasury bonds that would be held in the trust fund until the baby boomers began to retire in about 2010. But not one dime of that went to Social Security. That is why Mitch McConnell now says we need to cut Social Security. All thanks to President Reagan.

Robert Ackerman

Rapid City

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