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Originally Posted by Xenophon
Rather, any surpluses have made the official deficit numbers smaller in the year they were collected. Meanwhile the contents of the supposed trust fund are... Treasury Bills and Notes. And those, in turn, represent a call upon the future taxing ability of the US Government. Nothing more, and nothing less.
If an investment firm does this, and claims that they are investing the money we call it a Ponzi Scam and prosecute the principles of the firm for fraud.
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Indeed. Odd how some pigs are different.
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Anyway, when you write that "a lot of money was being put in there that wasn't really "doing" anything" you have fallen prey to the rhetoric from the politicians. Quite a large surplus was indeed coming in... but due to the above effects it was just being spent immediately. None of the surplus was ever being invested to cover future SocSec expenses. Not once, since the very beginning of the program back in the 1930s.
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As i understood it, that SSTF
did exist, hence my use of the party line on the issue. That clarifies that, then.