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Social Security Trustees

Social Security Trustees

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Published by Jeremy Caverley
Alan Davis letter to White House about Social Security
Alan Davis letter to White House about Social Security

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Categories:Types, Letters
Published by: Jeremy Caverley on Mar 08, 2012
Copyright:Attribution Non-commercial

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03/08/2012

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Alan R. Davis
370 Braewood DriveChillicothe, OH 45601740-775-5778adrockchalk@gmail.com 
“There are two ways to conquer and enslave a nation.
 
One is by sword. The other is by debt.” 
 
John Adams 1826
February 25, 2012Sec. Timothy GeithnerTreasury Department1500 Pennsylvania Ave., NWWashington, DC 20220Sec. Kathleen SebeliusDept. of Health & HS200 Independence Ave, SWWashington, DC 20201Sec. Hilda L. SolisDept. of Labor200 Constitution Ave. NWWashington, DC 20210Re: WH OMB 2013 Social Security ProjectionsDear
Social Security
and Medicare
Trust Fund Trustees
,Since no one in Washington is talking about it, I thought I should write and point out something quitealarming just in case you
ve missed it. I hope this will be informative and that you will take immediateaction considering your responsibility for the Social Security trust funds.The White House, through its Office of Management and Budget, recently (February 13
th
) released theirestimate for 2012 and their projections for 2013
 – 
2022. If you haven
t taken a look at it yet, you mightwant to check out Table S-5 on page 210. That table is titled
Proposed Budget by Category
and showstheir projections for the Nation
s Social Security Outlays and Receipts for 2013 - 2022. The figures theyshow under the
Totals 2013
 – 
2022
column are as follows:-
 
Social Security Outlays $10,699 billion-
 
Social Security Payroll Tax Receipts $ 9,113 billion
 
That means they
re showing:-
 
Payroll Tax Receipt Shortfall $ 1,586 billionBy comparison, they showed a shortfall of $216 billion in the 2010 budget. So in just 3 years, theirprojection for the following ten year shortfall has increased $1,370 billion! With the Social Security trustfunds only containing approximately $2.5 trillion, this is something that the Congress and the Nationshould be warned about. But I haven
t heard any warning coming from the White House. Have you?
WH OMB Budget
10 Year Projection Totals
(Billions $'s)2010Budget2011Budget2012Budget2012MSR2013BudgetSocial Security:
Receipts $ 8,635 $ 8,819 $ 8,901 $ 8,827 $ 9,113Outlays 8,851 9,373 9,902 10,015 10,699Net$ (216) $ (554) $ (1,001) $ (1,188) $ (1,586)
From WH OMB Summary Tables: Proposed Budget by Category
2010 Budget: S-4 Page 82011 Budget: S-4 Page 1512012 Budget: S-4 Page 1762012 Budget MSR: S-4 Page 282013 Budget: S-5 Page 210
What makes this so alarming is that just last year the Democrats in Congress made a major effort to tellthe Nation that Congress should keep its
Hands Off Social Security
. They used the following claims to justify that position:-
 
Social Security isn
t in the budget (it
s in the WH OMB budget Table S-5)-
 
Social Security doesn
t add to the deficit (WH OMB projects a $1,586 billion shortfall)-
 
Social Security is sound for decadesAs you and I know and as the WH OMB
s 2013 budget once again demonstrates, the Democrat
s claims just aren
t accurate. As trustees, you even issued the following warning in last year
s trust fund report:
“ 
The projected trust fund shortfalls should be addressed in a timely way
With informed  discussion, creative thinking, and timely legislative action, Social Security can continue to protect future generations.
” 
 
I hope you will fulfill your duty as Trustees of the Social Security Trust Funds and join together to callfor immediate action to reduce the shortfall in receipts versus outlays in the coming budget.Sec. Geithner, considering your role as Managing Trustee (the trustee with primary responsibility for theoverseeing the trust funds), I hope you will quickly call for a joint session of Congressional leaders whereyou can point out to Congress the necessity to address this in this year
s budget discussions.
 
 While I don
t know the legal ramifications of government trustees failing to fulfill their fiduciaryresponsibilities, in the private sector trustees can actually be held criminally libel in cases of extremefiduciary neglect. I wouldn
t want to see trusted members of President Obama
s administration broughtup on those types of charges.Sincerely,Alan R. DavisPrivate Citizen and Patriot
“The battle, sir, is not to the strong alone; it is to the vigilant, the active, the brave.” 
 
Patrick Henry
CC: Sen. Kent ConradSen. Jeff SessionsRep. Paul RyanRep. Chris Van HollenSen. Sherrod BrownSen. Rob PortmanChris Wallace
 – 
Fox News SundayDavid Gregory
 – 
Meet the PressBob Schieffer
 – 
Face the NationChristiane Amanpour
 – 
This Week Candy Crowley
 – 
State of the UnionMike DeWine
 – 
Ohio Attorney General

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