Msg. 57531 of 65535 (This msg. is a reply to
57514 by
Zimbler0)
Jump:
I think you will find that the Social Security Administration is required by federal law to invest any annual SURPLUS into the so-called 'trust fund', which consist of Treasury Notes. As of the end of 2011, the Social Security 'trust fund' contained $2.7 trillion and was drawing 4.4% annual interest. This amount is expected to cover all projected benefit obligations thru 2033, at which point it actually would have to start paying out current benefits from current tax receipts. Until then there will be a surplus in the 'trust fund'. In other words, for at least the next 20 years, there is no way in hell that you could describe Social Security as a 'Ponzi' scheme.
Ponzi schemes do not maintain sufficient assets
to make the money to pay back the investors.
What assets does S.S. actually have? Treasury Notes?
issued by an entity which chronically (for decades)
overspends its income.
And then, with 'quantitative easing' treasury notes
yields are so low . . . that S.S. 'assets' are actually
losing value. (Inflation.) While cost of living
raises and new retirees payouts increase what S.S. must pay out.
It ought to frighten most sane people.
(Although, with all your IRA and 401K money you
probably do not need S.S. . . . so maybe you should
just tell the government to keep your money and maybe
that'll help keep S.S. solvent a little longer.)
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