Quote:
Originally Posted by spence
Again, you don't seem to know what you're talking about. By law the SS trust must be invested in interest bearing securities.
Posted from my iPhone/Mobile device
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but I do, I posted this earlier, the govenment has issued IOU's to itself for any SS overage and promises to pay it back sometime and lumped the amount onto the National Debt...don't know about you...but if a guy running trillion dollar deficits gives me an IOU promising that the money will just materialize at a later date even though the account that the IOU is written on is overdrawn and will be so for as far as the eye can see....welll???
Paid-in
contributions that exceed the amount required to fully fund current payments to beneficiaries are invested in securities issued by the federal government. The securities issued under this scheme constitute the assets of the Social Security Trust Fund. Because under current federal law these securities represent future obligations that must be repaid, the
federal government includes these securities within the overall national debt.[1] The portion of the national debt that is not considered "publicly held" represents the
obligations incurred by the government to itself, the bulk of which consists of the government's obligations to the Social Security Trust Fund.
now that's funny...and you wonder where Wall Street get's all of their crazy ideas
you should start you own Ponzi scheme Spence 