Social Security Has a Surplus Not a Deficit

Discussion in 'Politics' started by LilOlLady, Apr 13, 2011.

  1. LilOlLady
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    LilOlLady Gold Member

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    Social Security Has a Surplus Not a Deficit
    Thursday, March 25, 2010

    The Economic Policy Institute (EPI) has taken exception to the popular notion that Social Security is going broke. In response to a recent Associated Press story, EPI’s Monique Morrissey pointed that the Congressional Budget Office—the source for AP’s dire account—has reported the trust fund for Social Security is actually still growing. It projects the fund to increase from $2.5 trillion this year to $3.8 trillion by 2020. AllGov - News - Social Security Has a Surplus Not a Deficit
     
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  2. JFK_USA
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    JFK_USA Gold Member

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    But I thought Social Security was bankrupted but this Congressional Budget office has a liberal bias of course.
     
  3. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    It is bankrupt. you see money that has already been spent, isn't there any more.

    This is called basic finance people.
     
  4. Oddball
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    Oddball BANNED Supporting Member

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    All that's in the "trust fund" are a bunch of T-bills, which are no more than yet-to-be-collected taxes from (in many cases) yet-to-be-born taxpayers.

    If anyone ran "trust fund" like that out in the real world, they'd be behind bars.
     
  5. 8537
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    8537 Senior Member

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    How do you think a trust fund is run in the real world?
     
  6. JFK_USA
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    JFK_USA Gold Member

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    You failed reading class didn't ya?
     
  7. Oddball
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    Oddball BANNED Supporting Member

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    How many real-world trust funds have their thumbs in the federal till?

    How many real-world trust funds force me to participate?
     
  8. uscitizen
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    uscitizen Senior Member

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    So if you owe someone money that you borrowed and spent are they bankrupt?
    Or do you owe them money?
     
  9. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Nope. Did quite well actually.

    But basic math tells me that money that has already been spent is not a surplus.
     
  10. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    If you are borrowing money from yourself, then heck yeah you are bankrupt.

    Much as it would be nice, you can't loan yourself money, spend it, and expect to repay the loan. Especially when you've also borrowed money from lots of other people as well.
     

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