President Big Spender says "there is no debt crisis"

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    Re: President Big Spender says

    In response to UserName99's comment:

    The Social Security trust fund has over a trillion dollars worth of US Treasury bonds. The excess brought into the fund over the past half century has been invested in treasury bonds, as required by law. Now that the system is paying out a bit more than it is taking it, some of those bonds must be sold back to the government. The government must purchase those bonds with either general revenue funds or the feds creating more bonds to sell to raise the money to pay the benefits. General revenue funds are not used to pay Social Security benefits. The Social Security fund is not in debt. And it should not be included in any discussion of deficit or debt reduction.

    Raising the minimum wage and raising the salary ceiling will quickly resolve any need to cash in the treasury bonds the Trust fund is holding.



    I like your whistful dreaming.

    Rasing the minum wage creates fewer jobs, therefore less social secuirty revenue.

    Raising the salary ceiling, while adding revenue, does not add much. 

     

     
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