Originally created 02/20/05

There is no 'lock box' for Social Security



Why are so many articles in The Chronicle given the byline simply as "Associated Press"? That permits whoever wrote the story to escape responsibility for it.

For example, the article Feb. 18 on Social Security uses the unjustified assumption that Social Security taxes are set aside for future payment, whereas they are actually put in with all other tax receipts and spent for current purposes, leaving onlya notation on a piece of paper somewhere that they have been collected. When that piece of paper comes due, the only way to pay the debt is to collect more current taxes.

For example, as are many people, I am retired and collect Social Security, but thosepayments come from current receipts, not some theoretical "lock box." The article refers to "stored surpluses" that will be used in the future, whereas nothing is actually stored away, but is constantly appropriated by the Congress for current needs.

Joseph M. Weaver, Graniteville, S.C.