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To: E. Pluribus Unum
An IOU is not a “trust fund.”

Well said.

In 2033 they will run out of IOUs and they will just keep funding the shortfall from the General Fund. That's what they are doing now and that's what they will be doing in 2034.

14 posted on 04/28/2012 5:07:35 PM PDT by InterceptPoint (TIN)
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To: InterceptPoint

Social security had two sources from which to pay.

1. Those who are paying in now.
2. The national Debt.

There is no fund containing actual saved money for social security. They have to borrow money for SS now because there is no longer enough coming in to pay obligations.

The instant the government can’t borrow anymore, then Social security will be shorted. Not in 2033 or any such nonsense. It could happen next week or next year, but it is coming soon.

The author of this article most likely knows this. And therefore I consider this just another in a long list of propaganda articles.


17 posted on 04/28/2012 5:18:22 PM PDT by Revel
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