SSI: Crackpots With Money

From the website of the Social Security Institute (SSI):

The Social Security Institute (SSI) is a national, 501(c)(4) non-profit, non-partisan seniors’ advocacy organization working to promote the retirement security of today’s seniors and the seniors of tomorrow. SSI’s top policy priorities are to stop the raid on the Social Security Trust Funds, prevent cuts to Social Security and Medicare benefits, and protect seniors from health care rationing and other limitations on their access to health care.

And this is their explanation of what they mean by the "raid on the Social Security Trust Funds:"

The Administration intends to spend half the Social Security surplus during this year and next to bail out big, bad banks. The total Social Security surplus in 2009 is projected to equal $217 billion; the Obama Administration proposes to spend $125 billon of it to bail out the banks. The total Social Security surplus in 2010 is projected to equal $231.1 billion; The Obama Administration proposes to spend $125 billion of it to bail out the banks. Had enough? Mad enough? Riled up enough? Sign the petition to stop raiding Social Security and future generations to bail out big, bad banks and insurance companies.

OK, investing the Social Security trust funds in U.S. government bonds that go to pay for things that this group does not like is a "raid" on the Social Security trust funds. So, what should Social Security do with the money in the trust funds? Invest in the U.S. stock market? That doesn't look like quite as good an option as it did a couple of years ago to anyone, including this group The SSI website recommends that individuals invest in gold, foreign currencies and foreign stocks. Maybe that is how the group wants to invest Social Security trust funds.

I would guess that the SSI is quite well funded. Their website is well designed. They has at least three staff members.

By the way, the SSI website throws around the word "fascism" quite freely.