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Where is this lie coming from? If nothing was changed for the next 20 years, Social Security could pay out 100 percent of benefits until 2037 and 77 percent of benefits thereafter. .
bull
the government SPENT the 'trust fund'
the last two years ss has PAIDOUT more than it brought in
and NOW we are BROKE (I would hope you heard of the 16trillion dollar DEBT)
the government SPENT the 'trust fund'
the last two years ss has PAIDOUT more than it brought in
and NOW we are BROKE (I would hope you heard of the 16trillion dollar DEBT)
the ONLY way to 'payout" till 2037 is MORE DEBT
The government did not spend the trust fund. The trust fund is held in special interest U.S. security treasury bonds, which are backed by the full faith of the U.S. government the same as a dollar bill is. To question the existence of the trust fund is to question the entire monetary system as we know it. (I realize that some, such as Ron Paul, do this.) What would you like the trust fund to be held as? Gold, I presume? So U.S. dollars are "worthless"? If you feel this way, send all of your U.S. dollars to me.
The government did not spend the trust fund. The trust fund is held in special interest U.S. security treasury bonds, which are backed by the full faith of the U.S. government the same as a dollar bill is. To question the existence of the trust fund is to question the entire monetary system as we know it. (I realize that some, such as Ron Paul, do this.) What would you like the trust fund to be held as? Gold, I presume? So U.S. dollars are "worthless"? If you feel this way, send all of your U.S. dollars to me.
Wait...you have had faith in the US Monetary system after we went off the Gold Standard?
Wait...you have had faith in the US Monetary system after we went off the Gold Standard?
You don't? Great -- send me all of your dollars please. Hell, I'll even come collect them from you to save you the gold dust you'll have to exchange for postage.
You don't? Great -- send me all of your dollars please. Hell, I'll even come collect them from you to save you the gold dust you'll have to exchange for postage.
This is the most inane comment I have read in a long time.
The government did not spend the trust fund. The trust fund is held in special interest U.S. security treasury bonds, which are backed by the full faith of the U.S. government the same as a dollar bill is. To question the existence of the trust fund is to question the entire monetary system as we know it. (I realize that some, such as Ron Paul, do this.) What would you like the trust fund to be held as? Gold, I presume? So U.S. dollars are "worthless"? If you feel this way, send all of your U.S. dollars to me.
oh please...an IOU is not money..
the Social Security “trust fund” is invested in special government bonds issued by the federal government. Principal and interest on these bonds must be repaid by future generations, according to law. The bonds in the Social Security trust fund are counted both as an asset of the trust fund and as a liability, since they are part of the total federal debt. Basically, one hand of the government owes the other hand, and the investments in the “trust fund” are not separate from the entity that sponsors the trust fund.
The Social Security trust fund idea gave us the illusion that we were advance funding Social Security benefits, in a manner similar to the private pension system.
The debate on the Social Security trust fund is really a distraction from the real debate, which is how much can we and our children afford to pay, considering all the taxes we currently pay? When does the total federal debt get too big, including the part of the federal debt that represents the Social Security trust fund?
When you think about it, the real Social Security trust fund is the trust that our children and grandchildren will be willing and able to pay all their taxes, including FICA taxes, and that they will be willing and able to pay interest and principal on all the federal debt, including the special government bonds in the Social Security trust fund.
Quote:
special interest U.S. security treasury bonds, which are backed by the full faith of the U.S. government
and I believe that as much as clinton/newt has a surplus.....NOT
IF there was a surplus.for 2-3-4 years...........why did the DEBT go from 3.9 trillion to 5.80 trillion????????????????????????
--------------
fact there never was a surplus......
if there was a surplus where did the money go...because the debt was NEVER paid
the NATIONAL DEBT INCREASED every year
if there was a surplus, then there should have been NO INCREASE IN DEBT for the year.....there was....
fact clinton/newt had near PROJECTED budget surpluses...but that doesnt count the OFF BUDGET costs
fact because of off budget spending there NEVER was a surplus
an example
you earn(takehome) 60k...you BUDGET 57k...wow you have a PROJECTED surplus of 3k.....during the year your transmission goes down...2k....your need a new washer/dryer...2k...you choose to get a big screan tv..1k.....now your PROJECTED surplus of 3k has turned into a DEFICIT of 2k because you spend 5k that was not on the original budget
This is the most inane comment I have read in a long time.
Uh huh, so inane you have no logical retort to it. If you don't believe in the U.S. monetary system, then you should not believe your dollars are worth anything. However, I somehow doubt you use them to wipe your butt or mouth the same you would any other paper.
Uh huh, so inane you have no logical retort to it. If you don't believe in the U.S. monetary system, then you should not believe your dollars are worth anything. However, I somehow doubt you use them to wipe your butt or mouth the same you would any other paper.
It doesn't matter if YOU the purchaser believes the $ is worth anything, its all about the folks that are willing to accept it in exchange for goods/services. They are the ones that value it enough to trade their goods or labor for it.
Uh huh, so inane you have no logical retort to it. If you don't believe in the U.S. monetary system, then you should not believe your dollars are worth anything. However, I somehow doubt you use them to wipe your butt or mouth the same you would any other paper.
I do not have faith in the long term viability of the US monetary system. That is not to say dollars are not worth anything. How the hell did you make that jump?
The US monetary system is a train barreling across the country at 300mph. I have absolute faith it can get me from New York to California, I just know it will not stop when it hits the ocean, so at a certain point I need to jump off. The train isn't worthless, it simply isn't a sustainable method of transportation long term.
Uh huh, so inane you have no logical retort to it. If you don't believe in the U.S. monetary system, then you should not believe your dollars are worth anything. However, I somehow doubt you use them to wipe your butt or mouth the same you would any other paper.
no-one said the dollar was worth NOTHING...but it SURE DOESNT buy what it USED TOO
used to buy a house for 5k...now its 500k...what changed...not the house
Last edited by workingclasshero; 09-15-2011 at 11:27 AM..
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