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Retired USN 31Jan1985; Resident of Naval Home Gulfport 2002-2005.

Monday, March 7, 2011

Subject: The Truth About Social Security & Medicare




Social Security and Medicare are getting considerable exposure in the news, with much misinformation,

such as;



1: Both programs are broke. NOT SO!. Congress owes $4.6 trillion to both trust funds, Infrastructure included, Social Security alone $2.6 trillion and majority of the rest to Medicare, covered with US Treasury Notes. These funds were to have been in a "Locked Box", not used as general purpose funds in covering wars and other programs.



2: These programs are responsible for our large deficits and far into the future. NOT SO! These programs are solvent. Contrary to causing deficits, these surpluses were used since the early 1980's to run our government, when general revenue was short. They are not general revenue like income and other federal taxes. Also, general funds, when used, Congress does not cover with IOU's.



3: The programs have been presented, in charts, as entitlements, taking away from incoming revenues nearly as much as the defense budget. NOT SO! They should not be on charts. They are not general revenue to run the government. The are withholding funds from our pay with matching employer funds, not general revenue for Congress to use as they please. Congress, along with all Presidents, are guilty of misuse of these surplus funds.



Since these programs are self sufficient and will be long into the future, it should be hands off for the steering committees considering deficit spending



Colonel Colin J. N. Chauret, USAF Retired

31 Years Active Duty, 1942-1973

8506 Parthenon Place

Universal City, TX 78148

(210) 658-8720: Cjnchauret@aol.com



All info, particularly money factors, can be verified by going to the Internet.