Posted on 03/12/2015 7:02:50 PM PDT by Olog-hai
There is no SS Trust Fund. There is only a file cabinet full of IOUs, that can only be paid so long as there is enough tax revenue coming in, or enough virtual dollars printed by the Federal Reserve.
the program brought in $725.429 billion in cash and paid $773.247 billion for benefits and overhead expenses”
1. There is No Money in any trust fund anywhere for SS! it was all spent already, merely IOU’s.
2. All Money collected in FICA taxes goes to the US Treasury and is used to pay existing, maturing debts.
3. The Money SS uses to pay benefits and expenses is all NEWLY BORROWED money, appropriated by Congress every year, with interest attached.
The way our fraudulent monetary system functions would require revenues to be greater than expenses by the amount of INTEREST annually, just to break even. SO the deficit may add to the debt substantially, but just having a Federal Reserve note or credit does too.
SO you see, it is much, much worse than most people know.
It is not more broke, and it is not less broke than any other program it funds, like the Defense Dept.
Today, the Social Security Trust Fund has a $2.8 trillion surplus,” Sanders said
So after what it takes in today and pays out today there is 2.8 TRILLION dollars left? I doubt that seriously no matter how hard you cook the books...........
uh... no.
I don’t have time for the history lesson tonight though.
Bernie, that $2,8 trillion is part of our $18 trillion national debt. It is held under Intragovernmental Holdings. It is an unfunded liability. In order for SS to cash in the non-market T-bills to pay benefits (SS has been running in the red since 2010), the General Fund must come up with the money to make up the shortfall. And we must borrow part of it in order to redeem these T-bills.
“social” is his middle name
I have seen the Social Security lockbox and you probably have too.
It’s the briefcase full of IOUs in the movie, “Dumb & Dumber”. It’s as good as money.
Just goes to show you how truly stupid the people of Vermont really are.
Is Obama cutting social security again?
When People Tell You Social Security Is Not Going Broke, Tell Them They’re Lying.
Bernie Sanders is a hypocrite with no integrity.
Great, apply that money to the National Debt Bernie.
$2.8 trillion surplus?
That money’s been spent, Jocko.
Try to spend an IOU at your local Wallyworld.
Stalinists lie. ALWAYS
afterall, you can make up any budget just by writing down these numbers....
like Fort Knox....is the gold really really there?
Doesn't exist - the taxed money goes into the general fund for politicians to give to their buddies and illegals.
I doubt anybody is even keep track...
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