"Here's a great idea, let's put Social Security monies in the stock market?" Republican Paul Ryan (paraphrased) If he were not serious, I'd be laughing. CBO has pointed out the folly of this plan yet he re-hashes it as a proposal again and again.
A Friend, Larry, responded to my post:
There is no money in the Social Security Trust fund, it is all borrowed. They would have to use a credit card. Oh, just like they are doing now with all other spending. OK, never mind!!
My response:
IMO you are right that it is borrowed against. Ther reality is that there iis no big vault of gold that represents the monies paid by workers into SocSec, but it is a legislated obligation to almost all Americans.
51 minutes ago · Peter Cinq Mars My understanding is that Congress has long borrowed against the "surplus" so real money is not sitting there waiting to be dispersed. The fundamental goal is to take care of our workers as they retire providing some sort of safety net.
So like a farmer, Congress borrows, buys seed, plants, works the land, and hopes that when he brings in the crops he will be able to pay the loan, get thru winter and borrow again in the following spring.
I would posit that the crisis we face today is much like a farmer who must decide to double his borrowing to plant after one bad growing season.
Does he double down or sell the farm leaving his children no land to farm in the future. Not and easy decision or choice. Just cutting all spending is not going to save the farm, nor is foolish investment in magical beans. Hard choices.
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