[Go_Raiders]

T-Bills are a piece of paper that says the Federal Government will pay the face value, in other words it is not an asset, it is a token of debt. To make this easy for you to understand, I will use as an example a token of debt you may have yourself - a mortgage note.

You would not consider your mortgage note to be an asset, because it represents money you don’t have. The only difference between your mortgage and Uncle Sam’s T-Bill is that the Government can print money to pay it off. Only problem is printing money just lowers the value of everyone’s money.

Calling T-bills an asset is crazy. Go sell crazy someplace else, we’re all stocked up here.

[kabar]

T-Bills are a piece of paper that says the Federal Government will pay the face value, in other words it is not an asset, it is a token of debt. To make this easy for you to understand, I will use as an example a token of debt you may have yourself - a mortgage note.

The T-bills held by the SSTF are no different than the T-bills held by the Chinese. In order to receive interest or redeem them, you depend on the good faith and credit of the USG. Here is what the SSA says about the Trust Fund T-bills:

Far from being "worthless IOUs," the investments held by the trust funds are backed by the full faith and credit of the U. S. Government. The government has always repaid Social Security, with interest. The special-issue securities are, therefore, just as safe as U.S. Savings Bonds or other financial instruments of the Federal government.

Calling T-bills an asset is crazy. Go sell crazy someplace else, we’re all stocked up here

I never called the T-bills an asset. In fact I said just the opposite. They are included in our $16.4 trillion national debt and held under the category "Intragovernmental Holdings." They must be considered as part of the debt ceiling cap.

I suggest you get better informed about how SS operates before you call someone crazy.