JoeTheEconomist
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- Sep 4, 2015
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I published a piece on the Social Security Trust Fund on independent voter news which looks at the Social Security Trust Fund.
Most of the discussion related to the Social Security Trust Fund falls into two categories. One says that is a space efficient version of Ft. Knox. The other says that it is a fiction, an accounting gimmick designed to funnel cash to the general fund.
This piece goes in between the extremes. It pulls apart the emotional hyperbole about fiction and accounting devices. The Trust Fund is real, but it is far too small to do its job.
http://ivn.us/2016/01/05/opinion-regardless-critics-say-social-security-trust-fund-real/
"Ideology aside, voters need to understand that the Social Security Trust Fund serves one vital purpose. It represents the legal obligation of the taxpayers to Social Security. The balance of the fund represents deferred revenue collected in the past exclusively for the use of the program.
The Trust Fund of Social Security is real.It is however small.It can postpone the consequences of the politics of indifference, but cannot solve them."
Most of the discussion related to the Social Security Trust Fund falls into two categories. One says that is a space efficient version of Ft. Knox. The other says that it is a fiction, an accounting gimmick designed to funnel cash to the general fund.
This piece goes in between the extremes. It pulls apart the emotional hyperbole about fiction and accounting devices. The Trust Fund is real, but it is far too small to do its job.
http://ivn.us/2016/01/05/opinion-regardless-critics-say-social-security-trust-fund-real/
"Ideology aside, voters need to understand that the Social Security Trust Fund serves one vital purpose. It represents the legal obligation of the taxpayers to Social Security. The balance of the fund represents deferred revenue collected in the past exclusively for the use of the program.
The Trust Fund of Social Security is real.It is however small.It can postpone the consequences of the politics of indifference, but cannot solve them."
