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    oohrah

    oohrah

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    Jul 24, 2013
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    Heart O' Texas
    Fishkiller said:
    The SS Trust fund is owed something like 2.6 trillion dollars from the federal govt. in the form of Treasury Bonds. LBJ was the first to "borrow" from the fund. He had to pay for the Vietnam War. Every administration since has borrowed from the fund. And yes the debt would be way larger, if the trust fund was operated as it should be.
    Click to expand...
    Not completely accurate. SS buys T bills with payroll taxes, its not allowed to invest in the market. LBJ just added the SS fund to the general budget to make the deficit look better. SS funds still stay independent. The problem is that the number of beneficiaries is increasing, and the workforce contribution may not be able to keep up unless changes are made.
     
    Moonpie

    Moonpie

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    Oct 4, 2013
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    Gunz are icky.
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