President Barack Obama Message Board

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Politics : President Barack Obama

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To: Alex MG who wrote (136026)	8/22/2013 12:19:36 PM
From: RetiredNow	Read Replies (2) of 149317

Why don't you go to the source, instead of quoting other people? Here's the source: socialsecurity.gov According to the SS Administration, net cash outflows for 2012 are as follows: * net payroll tax contribution of $589.5B + taxation of benefits $27.3 = net cash inflows of $637.8B * total cash out flows or expenditures = $785.8 = NET CASH OUTFLOWS = $148B You see, the SS Trust Fund has $0 in real cash or investments. All it has are IOUs called "Special Treasury Notes". In other words, the SS Trust Fund is owed almost $3 trillion by the US Treasury. When the SS Administration runs cash flow negative, which is does every year now, it cashes in on it's "Special Treasury Notes". The US Treasury must make good on those notes. To do that, the US Treasury, which is running a massive deficit, must issue Treasury Bonds on the open market...in other words it has to issue more debt. So those SS Admin net cash outflows result in ever increasing debt loads on the American taxpayer. Those are the facts, but you are welcome to put your head in the sand like most Americans do, if it makes you feel any better.

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