Does Social Security Have WMD?

Swamp East and you, Eppur are both wrong. First of all, United States Treasury bonds are not I.O.U.s as so many propagandists like to call them. They are real obligations of the United States just as are the bonds sold to China, Japan, corporate pension funds, banks and anyone else who buys them. They are real assets just as are EE or HH bonds. Our government has never defaulted on Treasury Securities. The Treasury uses money from China and Japan to finance federal deficits just as it has done with Trust Fund investments. Only propagandist’s claim there is no trust fund, they and those who are just ignorant of how government finances work. Government like not-for profit organizations has trust funds that are dedicated to be used for certain purposes. There are 239 government trust funds, but Social Security is the only one that is targeted by propagandists. The Federal Highway trust fund ran out of money in 2008. When Bush took office, it had 9 billion dollars to spend on transportation infrastructure. Bush, the anti-tax president did nothing to raise revenues for that trust fund and allowed it to run out of assets, so, money was transferred from the general fund to that trust fund. If there had been a small fuel tax increase, the fund would have remained solvent, now it will take a big fuel tax increase or transfers from the general revenues to fund the highway trust; that means more borrowing.
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