Social Security: The 14th Amendment And “Odious Debt”

The Republican Party prepares to violate the 14th Amendment to the US Constitution:  Social Security — the 14th amendment and “odious debt”.

For decades the working people have been paying millions more than was needed into Social Security and for years the excess money has been borrowed by the government.  Presently there is almost $3 trillion owed by the government to the Social Security Trust Fund.  The Republican Party now controls the government and has a budget plan that will give less than was promised to millions of people who have paid excess into Social Security for years. This proposed budget is, in fact, a default on the debt owed to the Social Security Trust Fund and the people of the United States. The proposed Republican budget cut to Social Security is a violation of the 14th Amendment to the US Constitution. The 14th amendment reads as follows: “the validity of the public debt of the United States, authorized by law, includes debts incurred for payments of pensions….. shall not be questioned.”

For decades the politicians have not only borrowed from Social Security to run the government, but 70% of the national debt has been borrowed from banks, financial institutions, corporations and rich individuals.  The politicians borrowed because instead of taxing the rich banks and corporations, they cut their taxes.

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