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To: chuckee

Certainly most partisan!


15 posted on 02/24/2023 3:01:48 PM PST by Reily
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To: Reily

There is a solution that would maintain Social Security and Medicare payments in perpetuity regardless of the number of entitled beneficiaries. Congress should change the trust fund law and completely eliminate it.

The trust fund was set up by FDR as a ploy to get Congress to approve SS. The whole board scheme envisioned that a group of smart people in 1935 could project what the beneficiary needs of the program would be 75 years into the future. This was a joke at the time and is even more of a joke now.

People can contribute whatever is required to FICA to reinforce their sense of entitlement and the starting age can be adjusted to reflect modern actuarial projections, but an entitlement is an entitlement. If the beneficiary expenditures exceed the FICA receipts, the promise must still be kept.

Fortunately, if the government is running out of money, it can legally print as much as it needs by adding to the reserves of the member banks who hold the Treasury department’s accounts. It’s not “borrowed” money because the government made it. They can make as much as they need to meet budget appropriations.

The bank in Monopoly can never go bankrupt or run out of money and neither can the Federal Reserve. That’s just how it works.


22 posted on 02/24/2023 3:29:21 PM PST by Dave Wright (i)
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