Replies to post #91966 on Tornado Alley (PROG)

[n4807g]

What's to not understand?

To be sure, most Americans – and, unfortunately, most members of Congress – believe that the Social Security trust fund contains real assets that can be drawn upon to pay future benefits. But the Social Security “trust fund” is like the federal highway trust fund and some 110 other federal funds, merely an accounting device and not an actual financial entity. The Clinton administration’s FY 2000 budget put the issue very clearly:

These [Trust Fund] balances are available to finance future benefit payments and other Trust Fund expenditures – but only in a bookkeeping sense. ... They do not consist of real economic assets that can be drawn down in the future to fund benefits. Instead, they are claims on the Treasury that, when redeemed, will have to be financed by raising taxes, borrowing from the public, or reducing benefits or other expenditures. The existence of large Trust Fund balances, therefore, does not, by itself, have any impact on the Government’s ability to pay benefits. (FY 2000 Budget, Analytical Perspectives, p. 337).

http://www.taxfoundation.org/news/show/174.html


Even Clinton gets it. The Trust Fund is in reality nothing, it's an accounting tool. It has no effect on the liquidity of the Social Security system. It has been been a political tool to give the average citizen a false sense of security concerning the solvency of Social Security. My point; my only point.

The rest of your post (in particular this part) is ???????? You're off on a tangent:

third, and most important -- the following (per my emphasis added, and further in particular to my investorshub.advfn.com/boards/read_msg.aspx?message_id=46376032 ) is what your (and dumbya's, and Cato's, etc.) dumbass bullshit lie on this point is clumsily attempting to obscure, and what said dumbass bullshit lie has always really been about -- more welfare for, yet another redistribution of wealth to, rich 'greed is good' jackasses at the expense of those who actually do the productive wealth-creating work in this economy/society (and see e.g. [items linked in] http://investorshub.advfn.com/boards/read_msg.aspx?message_id=39727356 , in particular the first item linked, "Why Your Tax Cut Doesn't Add Up" [ http://investorshub.advfn.com/boards/read_msg.aspx?message_id=2768626 / original now at http://www.newsweek.com/id/53606 / related comments of mine at http://investorshub.advfn.com/boards/read_msg.aspx?message_id=2626115 ]):

Have a great day.

Almost forgot, it's too bad there isn't $20 trillion in the Social Security Trust. If there were we could claim Social Security solvent thru the remainder of the century. Wouldn't that be great!