Posted on 03/30/2025 2:29:00 PM PDT by fruser1
The Treasury General Account (TGA), essentially the US government's checking account, now has just $280 billion left for disbursing funds for Social Security checks, government salaries and other crucial programs millions of Americans rely on.
The last time the Treasury's coffers dwindled this low was in 2023 when the US breached the debt ceiling, a legal limit set by Congress on how much the government can borrow to pay its bills.
By May of that year, the TGA, which is managed by the Federal Reserve, was down to just $37 billion.
Social Security, healthcare and military spending alone would lead to a $59 billion shortfall if the Treasury wasn't allowed to borrow money to cover it.
(Excerpt) Read more at dailymail.co.uk ...
Unless, of course, SS is just a ponzi scheme...
These politicians have mismanaged enormous sums of money. I appreciate that Trump is exposing the level of corruption but I don’t have a lot of confidence much will change over the long haul.
Probably best to have minimum debt, retirement savings socked away, large planned purchases already made, etc in advance of when the SHTF.
It has nothing to do with where the money came from.
The debt limit has been exceeded. As of now. To address this “special measures” are currently in place and being used. It is almost impossible to estimate when they will be exhausted because mid April is when there is knowledge of tax rev totals. Best estimate . . . around June.
The ceiling has to be raised by then or the US cannot spend money.
This is obviously several months ahead of the 1 Oct deadline for the expiration of the current CR and the alleged implementation of promised spending cuts.
There is no solution to this. Interest on the debt has overwhelmed everything.
Remember what all the corrupt lawyers turned professional government politicians in D.C. were telling us for the past decade or so? Warning all the taxpayers SS is running out!
All these lies while these corrupt government criminals were stealing, looting and abusing tens of hundreds of billions from the taxpayers.
Spit*
Biden’s Bleed on his way out.
2 Trillion to this and that before Trump took over.
Yes.
We are approaching $37 Trillion in debt, and we are increasing our debt by $1 Trillion dollars every 90 days. We are now paying over $600 Billion dollars a year just to service THE INTEREST ON THE DEBT. It is unsustainable. We won't tax our way out of it.
We have to grow our way out of it. I think Trump and his team understand this fully.
It is why Trump and his team have come in and are tearing about trying to find levers, any levers at all, to pull to keep us from rocketing off the cliff of insolvency.
I liken it to a mountain climber who has lost his purchase, and is sliding on a steep incline towards a fatal drop of 3000 feet. As he slides, he frantically tries, with with an ice axe in each hand, to slow his slide, plunging them repeatedly, as deep as he can, as the precipice approaches.
That is where we are right now, sliding towards that precipice. The Trump Administration is digging in to find a way to slow us down. It may already be too late to stop it, but we have to try, as remote as that possibility of stopping may be.
Social Security is a piggy bank for fraudsters, like the tens of millions of people over age 120 who are not marked as deceased in the Soc Security databases.
A billion here. A billion there, and pretty soon we’re talking big money.
Maybe they would like to contribute their pension fund.
4/15 is income tax day...
I read that Jackson Hewitt is helping illegals nab $14,000 from the taxpayers, even if they don’t work. This would be a good place to start. Indictments and mass DOJ/IRS/ICE sweep. Illegals steal TENS OF BILLIONS every single year via EITF and additional credit and so many other ways. CUT IT OFF and make mass arrests.
"gosh darnit, he's had 8 months to get us out of $37 trillion in debt!! If he didn't spend all his time and efforts fighting lawsuits, we would be in much better shape!! It's all the orange mans' fault"
Legitimate SS recipients aren’t going to be hurt...
These contributions are wisely invested by the government such that when the person retires . . .
_______________
That ended in LBJ’s presidency. The SS money is spent for general federal spending. The amount that should have gone into the trust fund is “borrowed” from the trust fund and spent on Great Society programs. So the trust fund is a dusty file cabinet full of IOU’s somewhere.
The private sector in this country has been at negative growth for some time. We are past a recession and in the middle of a great depression. Hopefully, getting the illegals out and manufacturing back into this country will spur actual economic growth. We will have to wait and see.
And of course, the politicians make sure they get paid first, while there is still cash in the bank. The debt ceiling is another scam pulled off by the scammers, just like the continuing resolutions. And the judges like morally bankrupt Boasberg issue rulings to protect his wife's paycheck from a morally bankrupt NGO that cashes fed checks to protect illegal aliens.
Apparently the ruling class inside the Beltway did not get the message from the November election.
Money flowing into the trust funds is invested in U. S. Government securities. Because the government spends this borrowed cash, some people see the trust fund assets as an accumulation of securities that the government will be unable to make good on in the future. Without legislation to restore long-range solvency of the trust funds, redemption of long-term securities prior to maturity would be necessary.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.
Many options are being considered to restore long-range trust fund solvency. These options are being considered now, well in advance of the year the funds are likely to be exhausted. It is thus likely that legislation will be enacted to restore long-term solvency, making it unlikely that the trust funds' securities will need to be redeemed on a large scale prior to maturity.
If the General Fund runs dry, there is nothing to pay Social Security benefits with. The money has been spent. The special-issue securities in the lockbox cannot be redeemed if the General Fund does not have spending authority to redeem them with.
Previously, when Congress threatened a budget default, or threatened to not raise the debt limit, Social Security beneficiaries were told their benefits might be delayed. If Congress had not increased the debt limit, or authorized spending, the General Fund was threatened with running dry. They can't give the SSA their monthly funding if they don't have it.
In government-speak, the fund is wonderful on paper and backed by the full faith and credit of the U.S. government. They also admit that the money has been "borrowed" and actually spent. And the government is trillions in debt and running huge deficits every year. That is also on the good faith and credit of the U.S. government.
The "logic" is that the government spent the money, but the government still has the money, as one part of the government promises to repay the money to another part of the government. With interest.
I wouldn’t call it “dusty”...lots of money moves in and out of the the SS Trust Fund “Special Treasury Notes” and regular govt. bonds “file cabinet” every day:
https://www.ssa.gov/oact/ProgData/specialissues.html
https://www.investopedia.com/ask/answers/110614/how-social-security-trust-fund-invested.asp
The big dip in the graph is last September when Biden stopped paying anything and pushed it over into the new fiscal year when Trump is responsible for it. Notice that the graph went up immediately after the new year started. Trumps high spending is just the judges forcing Trump to pay Biden’s bills.
$286 Billion X 12 is $3.432 Trillion per year. That’s half of Biden’s spending per year.
Question: Does the $286 Billion include Social Security and Medicare?
Simple, tax refunds going out now that it is tax season.
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