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Politics : President Barack Obama
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To: Wharf Rat who wrote (133167)4/19/2013 5:56:43 PM
From: RetiredNow  Read Replies (1) of 149317
 
You are being willfully ignorant. The SS Trust fund doesn't have any assets. It was all spent. It has IOUs, that earn interest, but who pays that interest? The US Treasury. The US Treasury gets its money from tax revenues less spending. Since Congress is running a deficit, the US Treasury must raise all cash to pay for the deficit by borrowing more money. To pay the for the deficit that the SS Trust Fund is running and for the interest payments to the SS Trust Fund, the US Treasury has to borrow even more money.

Forget all the transfer payments. Bottom line is that anytime any government organization runs a deficit, we all have to borrow more money or print more money to finance it. That is what is happening.

Look up the SS Trust Fund website and look at their latest cash flow charts. They are running a deficit. End of story.
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