Is Social Security going broke????

Factual Questions
1

Is Social Security going broke???

The Federal Government has borrowed over two (2) trillion dollars from the Social Security Trust Fund. Which in itself proves that the Social Security Administration is doing just fine, it generates a surplus every year. SS can continue to do fine without the money our government is paying back.

To get a balanced budget all we have to do is forgive this debt. Remove this debt from the Federal obligation to pay and we free up $billions to finally balance the Federal budget. I am sure the American public would agree,** how about you?**

2

[ul]
[li]Official SSA view from early 2015.[/li][li] Social Security Cannot Go Bankrupt - Forbes, August 2014[/li][li] Is Social Security Really Going Bankrupt? - Huffington Post, May 2015[/li][/ul]

3

We also need to stop our government from borrowing anymore money from the SSTF :smack:

4

So have you complained to the people doing it?

5

Duckster, you are mixing apples and oranges claiming that they are one and the same because they are in one basket. They are not the same.

Social Security’s Disability Insurance (DI) Trust Fund is not the SSTF

Old Age and Survivors Insurance (OASI) is not the SSTF

6

At least you agree that “they” are borrwing from the SSTF :slight_smile:

7

You asked a generic question. I provided links based on the generic question. Perhaps if your OP was more detailed, a more detailed response would have been forthcoming.

8

Oh my - when was the last time you heard someone suggest simply ‘erasing’ the Federal Deficit?

I thought we had a minimum age of 13 to post on these boards…

9

The Trust Fund since its inception has been legally required to consist of special US treasuries. These securities are constitutionally guaranteed to be repaid, and constitute what is likely to be the safest investment on the planet.

If the debt is forgiven, the Trust Fund is empty. Since FICA revenues do not cover payment of current benefits, and will not for many decades, “forgiving” the securities in the trust fund would result in immediate shortfalls to Social Security retirement benefits that would become worse over time.

The suggestion in the OP creates a huge problem as opposed to solving anything.

10

I make a living as a Registered Professional Land Surveyor. I am not an accountant. I created this thread to learn more by asking this question. OK, I did a poor job of it but you do get my point. So educate me

11

I did not say ‘erasing’ the Federal Deficit.

You must be a republicon

12

I have had a few beers and watching the repub debate

later

13

How about educating me?

You make the claim that we can balance the budget by forgiving the debt from the SSTF. Can you give me the exact figure for this how much we pay each year for this and where I can find that number in the federal budget?

14

That explains a lot. Don’t start threads when you’ve been drinking. Especially don’t start multiple threads in different forums. And if you are seeking opinions on a topic, start threads in other forums than GQ.

I’m going to close this. If you are seeking opinions on the topic, you may open a new thread in IMHO or Great Debates tomorrow.

Colibri
General Questions Moderator