Will Bush bankrupt Social Security?

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Will the Democratic Congress aid and abet the Prez?

U.S.-Mexico Agreement Could Make Illegal Workers Eligible For Billions In Social Security Funds

Washington, DC - A 2004 agreement between the U.S. and Mexico could allow millions of illegal Mexican workers to draw billions from the already strained U.S. Social Security Trust Fund.

The agreement is designed to eliminate dual taxation for those who work outside of their country of origin. But, if signed by President Bush (website - news - bio) , the U.S.-Mexico Social Security Totalization Agreement could allow workers to claim credits for work done while in the U.S. illegally.

According to a press release from the TREA Senior Citizens League, a loophole in the Social Security Protection Act of 2004 could "allow millions of today's Mexican workers to eventually collect billions of dollars worth of Social Security benefits for earnings under fraudulent or 'non-work authorized' Social Security numbers".

The Senior Citizens League has been fighting to have the agreement made public over the last three and a half years.

"The Social Security Administration itself warns that Social Security is within decades of bankruptcy," says Ralph McCutchen, Chairman of the Senior Citizens League. "Yet, they seem to have no problem making agreements that hasten its demise. Our 1-point-2 million elderly members didn't sacrifice through difficult times so we could fund millions of workers who crossed the border and decided to work here illegally."

According to the Washington Post, the Social Security Administration maintains an 'earnings suspense file'. It basically keeps track of earnings of workers whose Social Security numbers and names can't be matched.

The Inspector General of the SSA says the largest source of those earnings is from non-citizens performing unauthorized work. The suspense file only tracks earnings, but does not collect any money. It currently holds more than 500-billion dollars.

If the agreement is signed by President Bush, a large portion of that 500-billion dollars may have to be given to those who did work illegally.

Not taking any of this into consideration, at the current rate, the SSA maintains the Social Security Trust Fund will be empty by 2040. The agreement was signed in June 2004 and is awaiting the president's signature. Once signed, Congress would have sixty days to reject it.

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