Obama ends the lie about Social Security

Finally someone in the US Government has stepped up and ended the lie that is the "Social Security Trust Fund". President Obama did just that this week. By stating that Social Security checks might not go out in August as planned since as he said" there might be money in the coffers" he admitted that there is no trust fund to pay social security. Anyone with any intelligence knew this all along, but Obama himself just this year as well as former Speaker of the House Nancy Pelosi kept peddling the lie that the fund exists and will be there to pay retirees forever. Well folks if it is there forever then why should there not be money next month to pay out the checks? Because the "trust fund" is nothing but a bunch of IOU's in a filing cabinet in West Virginia since this Congress and President and every Congress and President before has taken in the money and spent it already. By the way federal government retirees your "trust fund" for retirement does not exist either, so accept that is a lie to you as well.

Now I expect Obama did not realize he was putting an end to the lie as his goal this week was for political points to make Congress bend to his demands on current debt discussions. Let's also add in that last week Obama noted that Medicare would run out of money if something was not done and likely done now to improve long term solvency of the program. Again note there is no trust fund there either.

Now if this is a cold dose of water to your retirement plans use this as an opportunity to understand if you depend on anyone else for your retirement funds you are being a fool. Add in the fact that politicians, just like Obama this week, can use the threat or leverage anytime they want to to withhold your check to get you to do what they want you to do.  Frankly I do not like someone telling me what I can and can not do or worse what I must do anytime.  Unlike many Americans I prize my liberty.  So if you are depending on Social Security, particularly if you are less than 50 years old, you are now fully warned by President Obama that there is not trust fund and you are truly on your own.  Maybe it is time for you to be a Small Town Investor too.