- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Would you vote for a candidate who ran on a “major cutbacks to lower deficit” platform?
Posted on 3/7/19 at 10:50 am to troyt37
Posted on 3/7/19 at 10:50 am to troyt37
quote:
had the federal government kept their dick beaters off of the money in Social Security, it wouldn't be expected to be insolvent in 2030.
It's amazing how wrong you are on so many different topics.
Social security is still taking in more money every year in their share of FICA and self-employment taxes, then they are paying out in benefits. Every year, the excess just piles up in an account.
At various times over the years, rather than going out in the market and issuing bonds for general fund spending, the government has instead used the money in the trust funds, replacing it with a special purpose bond. Those bonds earn interest. In the future, when social security benefit payments exceed current share of dedicated revenue, the trust fund will redeem those bonds. Likely, the government will essentially pay off the bonds by selling new bonds in the market.
That money wasn't taken or stolen or anything. The value is still there, just instead of sitting in cash, it's sitting in bonds which are earning interest.
At some point in the future, social security and medicare will be insolvent because those accounts will pay out, in total, more money than they have taken in.
Some people will never receive the value in benefits that equals what they and their employers have paid in, but other people will receive much, much more.
Popular
Back to top
Follow TigerDroppings for LSU Football News