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Lyndon Johnson on Social Security

 


1968: raided the Trust Fund to help pay for the Vietnam War

Today, the federal government automatically puts all of the money that should be set aside for the Social Security Trust Fund into the General Fund. Raiding the Social Security Trust Fund was a precedent set in 1968 by another progressive president, Lyndon B. Johnson, to help pay for the Vietnam War. To date, the federal government has borrowed over $2 trillion from the Social Security Trust Fund to spend on other programs.

Contrary to what many Americans believe and what progressives love to say, there is no money in the Trust Fund to pay future benefits. Furthermore, the fundamentally flawed program faces a severe demographic crisis as members of the baby boom generation begin to retire. The mess we face with Social Security, a program so many are now dependent on, is yet another example of a failed progressive policy, where the potential for unintended consequences was ignored at the program's inception.

Source: Now Or Never, by Sen. Jim DeMint, p. 80-81 , Jan 10, 2012

Raise social security payments by 15%-20%

Let us insure that older Americans, and neglected Americans, share in their Nation's progress. We should raise social security payments by an overall average of 20 percent. That will add $4.1 billion to social security payments in the first year. I will recommend that each of the 23 million Americans now receiving payments get an increase of at least 15%.

I will ask that you raise the minimum payments by 59%--from $44 to $70 a month, and to guarantee a minimum benefit of $100 a month for those with a total of 25 years of coverage. We must raise the limits that retired workers can earn without losing social security income.

We must eliminate by law unjust discrimination in employment because of age. We should embark upon a major effort to provide self-help assistance to the forgotten in our midst--the American Indians and the migratory farm workers. And we should reach with the hand of understanding to help those who live in rural poverty.

Source: Pres. Johnson's 1967 State of the Union message to Congress , Jan 10, 1967

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Other past presidents on Social Security: Lyndon Johnson on other issues:
Former Presidents:
George W. Bush(R,2001-2009)
Bill Clinton(D,1993-2001)
George Bush Sr.(R,1989-1993)
Ronald Reagan(R,1981-1989)
Jimmy Carter(D,1977-1981)
Gerald Ford(R,1974-1977)
Richard Nixon(R,1969-1974)
Lyndon Johnson(D,1963-1969)
John F. Kennedy(D,1961-1963)
Dwight Eisenhower(R,1953-1961)
Harry S Truman(D,1945-1953)

Past Vice Presidents:
V.P.Dick Cheney
V.P.Al Gore
V.P.Dan Quayle
Sen.Bob Dole
V.P.Walter Mondale

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Page last updated: Feb 20, 2014