Social Security Has a Surplus Not a Deficit

[LilOlLady]

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

 

[JFK_USA]

But I thought Social Security was bankrupted but this Congressional Budget office has a liberal bias of course.

 

[Avatar4321]

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

This is called basic finance people.

 

[Oddball]

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.

 

[8537]

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.

How do you think a trust fund is run in the real world?

 

[JFK_USA]

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

This is called basic finance people.

You failed reading class didn't ya?

 

[Oddball]

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.

How do you think a trust fund is run in the real world?

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

How many real-world trust funds force me to participate?

 

[uscitizen]

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

This is called basic finance people.

So if you owe someone money that you borrowed and spent are they bankrupt?
Or do you owe them money?

 

[Avatar4321]

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

This is called basic finance people.

You failed reading class didn't ya?

Nope. Did quite well actually.

But basic math tells me that money that has already been spent is not a surplus.

 

[Avatar4321]

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

This is called basic finance people.

So if you owe someone money that you borrowed and spent are they bankrupt?
Or do you owe them money?

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.

 

[Sallow]

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

This is called basic finance people.

You failed reading class didn't ya?

That was math..

 

[Sallow]

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

This is called basic finance people.

You failed reading class didn't ya?

Nope. Did quite well actually.

But basic math tells me that money that has already been spent is not a surplus.

It hasn't.

But go on..

 

[NYcarbineer]

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

This is called basic finance people.

The money wasn't spent, it was invested in US bonds.

Granted, if the U.S. defaults on its obligations to S.S. that's a problem. But not the fault of S.S.

 

[Avatar4321]

You failed reading class didn't ya?

Nope. Did quite well actually.

But basic math tells me that money that has already been spent is not a surplus.

It hasn't.

But go on..

"loaning" money from one pocket to the next, then spending it, doesn't mean you still have money owed the first pocket. It means you are trying to decieve people or yourself into thinking that your finances are on solid rock while you're sinking in quicksand.

If the politicians bueaucrats who came up with the system were in the private sector, they'd be serving life sentences in jail. It's a fact.

I know so many of you don't want to deal with the real problem here. I know you are doing everything in your power to pretend that nothings wrong. You don't have to be afraid. The problem can be fixed if we stop lying to ourselves and each other and actually fix the spending problem we have. Until we admit that we are bankrupting ourselves, we can't fix the problem. Until we admit that we need to make drastic spending cuts, our economy will not be fixed.

The more we delay it, the more painful it's going to be. If we push it much further, people will end up dying. And that's not something I want to see.

 

[Jack Fate]

I got my first SS check today.

 

[NYcarbineer]

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

This is called basic finance people.

So if you owe someone money that you borrowed and spent are they bankrupt?
Or do you owe them money?

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.

S.S. is funded separately. This the not the government 'borrowing from itself'.

 

[NYcarbineer]

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

This is called basic finance people.

Depends on who's where in line if the U.S. government begins failing to meet its obligations.

Who's first? The Chinese or Social Security?

 

[westwall]

I suggest you read something other than some partisan quackery. Here are a very few dealing with SS's upcoming insolvency. You see, a business, has to keep track of all the expenses that it has promised to pay in the upcoming years. Our government leaders on the other hand bury their head in the sand and hope the collapse occurs after they have gone.

Real bright.



http://frwebgate3.access.gpo.gov/cgi-bin/TEXTgate.cgi?WAISdocID=D7k9LK/2/1/0&WAISaction=retrieve

http://frwebgate3.access.gpo.gov/cgi-bin/TEXTgate.cgi?WAISdocID=D7k9LK/5/1/0&WAISaction=retrieve

http://frwebgate3.access.gpo.gov/cgi-bin/TEXTgate.cgi?WAISdocID=D7k9LK/29/1/0&WAISaction=retrieve

 

[NYcarbineer]

I got my first SS check today.

Is it going for a hooker, adult diapers...

or both?

 

[NYcarbineer]

From a logical, ethical, sensible perspective...

...why should Social Security be expected to make financial sacrifices for having invested its revenues in U.S. treasuries,

with the implied, and reasonably expected, full faith and credit of the US government behind those bonds??