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Posted on 5/7/24 at 6:41 pm to frogtown
quote:
SS is virtually the ONLY government program operating in surplus in 2024
SS was tapped out in LBJ administration whereby all invested in gov’t bonds. The “trust” is essentially full of “IOUs” it’s not a bank vault filled with cash. That money was spent by your gov’t a loooong time ago
Posted on 5/7/24 at 8:04 pm to frogtown
quote:SS includes the TF. It is currently $2T in surplus. If things remain unaddressed, the first SS deficits will occur next decade.
SS is running a deficit right now. The trust fund will be depleted in 2035.
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