[E. Pluribus Unum]

An IOU is not a “trust fund.”

[EGPWS]

An IOU is not a “trust fund.”

How can the word "trust" even be used when discussing government promises?

[muawiyah]

It's still an obligation.

BTW, the US government has assets ~ when they run out of cash they can do what everybody else does ~ sell stuff and hand over the proceeds to the creditors.

Or, distribute the assets ~ I"d be happy to have a 10 sq ft site in the Capitol Rotunda ~ I'd sell magazines and candybars.

[InterceptPoint]

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.

[achilles2000]

Thank you for hitting that right at the outset. There never was, nor was there intended to be, a “trust fund”. Any journalist who uses that phrase as if a trust fund actually exists ought to be fired for stupidity or mendacity.

[trebb]

An IOU is not a “trust fund.”

For sure - if it had been a trust fund, and managed like one (and only used to recompensate actual "donators"), it would be awash in cash.