Here we go. Mega MAGA Mess is coming. Is SS, MediCare etc gone... soon?

[TedG]

3 hours ago, gamb00ler said:

Of course the SS trust fund is not in a bank account.  The trust fund lends the money to the US treasury and is given T-bills in return.  The interest rate the government pays is very close to what it pays on the T-bills sold at auction.

 

When the Treasury pays out the SS benefits the amount paid is deducted from the amount owed to the SS trust fund.  Every $ the Treasury pays out as benefits is taken from the SS trust fund, not the US government's general revenue.

 

The only funds taken from the Federal governments general revenue and given to SS is the interest on the special T-bills held by the SS trust fund.  But those interest payments ALSO have no impact on the Federal deficit because the Treasury would have had to borrow the funds elsewhere if not from the SS fund.

 

Therefor there is ZERO impact on the Federal deficit from SS benefit payouts.  That's the law as of right now.  It may change in the future when the inflows to the SS trust fund don't cover the benefits owed as calculated by the current SS benefit algorithm.

 

Where does the money come from to the fund the interest and pay back the T-bills.

[BigStar]

Trump: ‘We’re Not Touching’ Social Security in Proposed Cuts to Government Spending

[Yellowtail]

The left argues against any non-military budget cuts. Now they be arguing that because the $2T cut seems impossible, no cuts should be made. 

 

It reminds me of when they said that the wall should not be built because it would not keep out 100% of illegal aliens. 

 

 

[GypsyT]

On 12/9/2024 at 8:27 AM, BigStar said:

Trump: ‘We’re Not Touching’ Social Security in Proposed Cuts to Government Spending

If everything goes South he can get a job as wind bag at airport...

 

[BigStar]

30 minutes ago, GypsyT said:

If everything goes South he can get a job as wind bag at airport...

 

 

Take away your job? No, I don't think so.

[theblether]

On 12/8/2024 at 3:39 PM, candide said:

So now you are admitting that open source will not achieve the stated goal. We can agree on that.

 

The main issue is not the end game, it 's how to achieve it. Otherwise it's only a wish. And no one has precisely explained what will be cut.

 

I didn't admit that.