[[I can’t tell if he’s pro or con SS, but he is describing how it’s designed.]]
We’re NOT talking about how ‘it’s designed’ We’re talking about how it’s playing out, and how it’s playing out does NOT resembled how it was designed-
[[There never was a lockbox and there never could be one.]]
The issue about the ‘lock box’ wasn’t about locking up the money so no one could use it- it was simply a metaphor to describe that it wouldn’t be used In the wrong manner- We know there’s no actual lock box, and that the money DOES need to be invested- but the fact is that it has been ‘invested’ In the wrong ways, in ways that it was not meant to be-
[[SS money has to be given to SS recipients. Or returned to the people it was taken from. Or, the favorite choice of big government politicians of both parties, loaned to the rest of the government. But it can’t sit idle in a “lockbox†without doing real harm to the economy.]]
Yes, both flaglady and myself and everyone else In the thread understand that- that is not what is at issue I n the discussion- the issue again is that the money was not supposed to be invested and simply just left alone- the issue is that it wasn’t invested properly- and had it been, we would be fine today-
” the issue is that it wasn’t invested properly- and had it been, we would be fine today-”
But what would you have them do with it that they aren’t doing? They really can’t be buying stocks with it, we don’t want the government directly financing and owning corporations. They could buy bonds but that also amounts to picking what corporations to finance. There’s enough crony capitalism going on without adding the huge SS sums to the mix.
If they aren’t going to try to equalize the income and outflow of funds then they are pretty much limited to loaning excess funds to other gov’t agencies, otherwise we would have them picking and choosing companies to fund in the private sector. I just don’t see what other option you have in mind.