Are you a Boomer? Congratulations, You Won the Economy!

[BlindBoo]

You're a Boomer grifter leaving $30T in debt

The SS funds is not part of the Government debt. That is they never issued bonds/notes to pay benefits. In fact it has loaned the Government money. Over the years the excess money was invested in Treasury notes. In 2010 it started running a deficit and has to cash in some the notes to pay the full benefits. When all the notes are cashed in it is projected to only be able to pay about 70% of the benefits we were promised. The legislators have known about this since the last time they raised the retirement age and increased the % we pay into it.

Demand a balanced budget amendment with a plan to pay down most all of the debt.

While we're at it we should demand a term limit on congress critters too.

 

[Delldude]

The SS funds is not part of the Government debt.

What?

Social Security funds
are considered part of the total federal debt, specifically classified as "intragovernmental debt"

 

[Hafar1014]

What?

Social Security funds
are considered part of the total federal debt, specifically classified as "intragovernmental debt"

SS still has a surplus so it cant be debt however. The surplus is used to by treasuries which goes into the general fund and is spent but repaid. So yes this is debt but the government records it as cash.

 

[BlindBoo]

What?

Social Security funds
are considered part of the total federal debt, specifically classified as "intragovernmental debt"

Not a single treasury note been issued to raise the funds necessary to pay SS Benefits. The SS fund has purchased more and still holds more of the federal governments debt than China.

 

[Hafar1014]

Not a single treasury note been issued to raise the funds necessary to pay SS Benefits. The SS fund has purchased more and still holds more of the federal governments debt than China.

You dont understand SS. The surplus buys special treasuries
By law, any Social Security surplus—when tax revenue exceeds benefit payments—must be invested in special-issue Treasury securities guaranteed by the U.S. government. These securities are non-marketable, meaning they are issued exclusively to the Social Security trust funds and cannot be traded on the open market.
Social Security Administration (.gov) +3

SS payments come directly from the FICA tax as soon as its collected it goes right out as payments. You pay half and your employer pays the other half. Self employed pays the entire tax

• Liquidity: Unlike public bonds, these can be redeemed at par (face value) at any time to pay benefits without risk of market loss.
• Interest Rates: They earn a market rate of interest based on the average yield of all outstanding marketable Treasury bonds that are not due or callable for at least four years.
• Types: The Social Security Administration (SSA) holds two types: short-term "certificates of indebtedness" for daily cash needs and long-term "bonds" with maturities ranging from 1 to 15 years.
• Guarantees: They are backed by the full faith and credit of the U.S. government, just like the Treasury bonds sold to the public.
  Social Security Administration (.gov) +8

Recent Status (2024–2026)
While Social Security historically generated massive surpluses reaching $2.9 trillion by 2021, the program has recently begun drawing down these reserves because annual costs now exceed tax income. As of February 2026, the OASI trust fund is projected to be depleted by 2032 or 2033 if no policy changes are

 

[BlindBoo]

SS still has a surplus so it cant be debt however. The surplus is used to by treasuries which goes into the general fund and is spent but repaid. So yes this is debt but the government records it as cash.

When the surplus is exhausted and they sell or redeem all the bonds they purchased to pay citizens what they are entitled too, the benefits will be reduced to the continuing taxes paid into the fund. Unless the law is changed the SS fund will never deficit spend on benefits. Full stop, roll credits......

 

[citygator]

The SS funds is not part of the Government debt. That is they never issued bonds/notes to pay benefits. In fact it has loaned the Government money. Over the years the excess money was invested in Treasury notes. In 2010 it started running a deficit and has to cash in some the notes to pay the full benefits. When all the notes are cashed in it is projected to only be able to pay about 70% of the benefits we were promised. The legislators have known about this since the last time they raised the retirement age and increased the % we pay into it.

Demand a balanced budget amendment with a plan to pay down most all of the debt.

While we're at it we should demand a term limit on congress critters too.

All true. I do get the attempt to act like we "technically" have different parts to public debt, but we dont really. We basically have an unfunded IOU to ourselves for $2.7T that we issued so we could spent that $2.7T. We dont really have it because we really did use that $2.7T and issued the debt for it.

My whole argument in this thread is that boomers set up a cash cow that allowed them to live in a country $40T passed their ability to pay and are pulling out money that they never saved but did in fact borrow. I think the boomers are constantly trying to act like other groups are grifting somehow with public assistance when nobody lived passed their means more than they did. They are set up better than us all, all our expenses.

 

[Delldude]

Not a single treasury note been issued to raise the funds necessary to pay SS Benefits.

The money comes from paychecks.

 

[BlindBoo]

All true. I do get the attempt to act like we "technically" have different parts to public debt, but we dont really. We basically have an unfunded IOU to ourselves for $2.7T that we issued so we could spent that $2.7T. We dont really have it because we really did use that $2.7T and issued the debt for it.

My whole argument in this thread is that boomers set up a cash cow that allowed them to live in a country $40T passed their ability to pay and are pulling out money that they never saved but did in fact borrow. I think the boomers are constantly trying to act like other groups are grifting somehow with public assistance when nobody lived passed their means more than they did. They are set up better than us all, all our expenses.

The Debt run up by the Fed was not caused by the SS fund we pay into and hopefully will receive our benefit from, is all I am saying. Our SS money helped fund the debt, it did not cause it.

But I will add that we need to look at other factors that the Epstein Class, both parties, has fostered on us.

"The total cost of the U.S. wars in Iraq and Afghanistan is estimated to be between $4 trillion and $6 trillion, with some estimates exceeding $8 trillion when including long-term interest and veterans' care through 2050" -AI

Who benefited most from the interventionist foreign policy we've had for the past 75 years. It ain't the average American workers, boomers or not.

 

[BlindBoo]

The money comes from paychecks.

The debt doesn't. That comes from deficit spending. SS doesn't contribute to the yearly deficit.

 

[BlindBoo]

Social Security funds
are considered part of the total federal debt, specifically classified as "intragovernmental debt"

Like China and a host of other countries, SS is a US debt holder.

 

[kyzr]

Nope. By the time I get there SS will either be defunct or issued in wooden nickels.

Worst case SS money out equals money in, or about 80% of promised benefits, still not bad if you have a 401k.

 

[Delldude]

The debt doesn't. That comes from deficit spending. SS doesn't contribute to the yearly deficit.

Shifting again from what I responded to.

Same old shit with you.

 

[rightwinger]

As a Boomer, I see that we had it easier than those just entering the workforce today.

I paid for my college tuition making $2 minimum wage over the summer. When I graduated, I bought a new car in six months and a house within five years.
I was able to get a pension that paid 2/3 my salary at age 55.

Today’s graduates face massive student debt, wages that don’t pay the rent and no benefits.

 

[BlindBoo]

Shifting again from what I responded to.

Same old shit with you.

"The money comes from paychecks." So what? That doesn't change the fact that SS benefits have not contributed to the Feds nearly 40 trillion dollar debt. Our SS fund still owns about 2.4 trillion of that debt.

 

[Delldude]

So what? That doesn't change the fact that SS benefits have not contributed to the Feds nearly 40 trillion dollar debt

The payroll deduction does.

 

[BlindBoo]

The payroll deduction does.

No it doesn't. The yearly deficit is caused by spending other than on SS benefits. SS is no longer buying the notes, but is redeeming them to pay the benefits. That piggy bank will last another decade or so, and even when/if benefits are reduce to those payroll taxes, unless the laws are changed the reduced benefits will still not contribute to the deficit or the debt.

 

[Delldude]

No it doesn't.

They borrow from the SS trust fund.

 

[BlindBoo]

They borrow from the SS trust fund.

That has zero net effect on the governments debt.

 

[Delldude]

That has zero net effect on the governments debt.

If they're spending it to run the government it sure as hell does.