I stopped reading at “after Social Security drains its trust funds”.
There is no trust fund. It is a fiction. The so called “SS trust fund” is literally a file cabinet in WV (thank you Senator Byrd!) filled with IOUs that aren’t worth spit.
http://madashelland.com/?p=1199
I’m with you. As soon as I read the suggestion that there was something in a trust fund somewhere that hadn’t already been spent, I knew the rest was probably bogus as well!!!
There is no trust fund. It is a fiction. The so called “SS trust fund” is literally a file cabinet in WV (thank you Senator Byrd!) filled with IOUs that aren’t worth spit.
There is a Trust Fund; it’s invested in “safe government bonds.” So when the Treasury writes the social security check, it bills the Social Security Trust Fund - and that fund produces a bond which is a valid obligation of the Treasury itself. So instead of taking the money out of the right pocket, Treasury takes it out of the left pocket - but it still comes out of the Treasury either way, same difference.The SSTF exists, but it is nothing more than a record of money the government doesn’t have.A lot like “altitude above you, runway behind you, or fuel used” - the "three most useless things" to an aviator.