- Apr 1, 2011
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The government paid $87 billion to the government? Remember the post where I asked you to take $20 from one pocket and put it in your other pocket?Really? Who paid the $87 billion?The government earns nothing on them. The "Trust Fund" is a book keeping fiction.No, they don't. Social Security surplus revenue is not used to purchase anything. The Treasure Bills in the Social Security 'trust fund'. Are not real. If you broke into the trust fund, and stole the T-Bills... you wouldn't be able to sell them. They have no legal standing, and are not marketable.
I don't understand what you mean by they can't use that money.
All the money collected by the Social Security Tax, goes to the IRS. That money is in the same account as all other tax money. It is spent, like all money is.
You seem to be implying that the money goes to the SSA, and then they take the money and buy T-bills. False.
The money all goes to where all taxes go. They write fake T-bills after the fact, to make it look like SS has assets. It doesn't.
https://www.amazon.com/High-Cost-Good-Intentions-Entitlement/dp/1503603547/&tag=ff0d01-20
If you actually want to learn the reality of the Social Security "trust fund", you need to read this book. The facts are, the entire system has been a sham, since it was created. There are no assets. There are no securities. There are no T-Bills.
You need to determine for yourself if you are willing to learn the truth, or if you want to stay in your safe-place outside of reality.
Regardless of what choice you make, I have made mine. I'm going to live my life according to the truth. There is no trust fund. There are no T-Bills to be 'redeemed'.
The Treasure Bills in the Social Security 'trust fund'. Are not real.
How much interest does the Trust fund earn on their "fake T-Bills"?
A fiction that earned $87 billion in 2016.
The same entity that pays interest on all outstanding US Treasury securities, the US Treasury.