Actually, I'll go one step further. Instead of our military fighting wars to protect our oil supplies, why don't we just let the oil companies fund their own security in the Middle East?
As far as Social Security, do you really believe they have cash on hand in the Trust Fund? Man, you really need to do your research on this one. That Trust Fund is just a bunch of IOUs. More specifically, it holds Treasury bonds, which means our SS Trust Fund lowned the money to our Federal Government, which spent it. So now they owe it back to the SS Trust Fund. As I said, a bunch of IOUs.
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ssa.gov
By law, income to the trust funds must be invested, on a daily basis, in securities guaranteed as to both principal and interest by the Federal government. All securities held by the trust funds are "special issues" of the United States Treasury. Such securities are available only to the trust funds.In the past, the trust funds have held marketable Treasury securities, which are available to the general public. Unlike marketable securities, special issues can be redeemed at any time at face value. Marketable securities are subject to the forces of the open market and may suffer a loss, or enjoy a gain, if sold before maturity. Investment in special issues gives the trust funds the same flexibility as holding cash.
Data on trust fund investments provide a breakdown by interest rate and trust fund for any month after 1989. |
