porkopolis on Nostr: Thanks for comments. Brass tacks, for the negative $150 billion a year deficit that ...

Thanks for comments. Brass tacks, for the negative $150 billion a year deficit that Social Security runs each year, that net negative amount is added to the debt.

It doesn’t matter if the Trust Fund existed, or not, what I just said would occur the same each year.

It is true that, technically, the Trust Fund is “off balance sheet” of the Treasury and holds assets, but those assets are just “receivables due” from other branches of government. And the government doesn’t run surpluses, so again, you just get back to creating another $150 billion in debt each year.

And that means, for all those prior surpluses in Social Security since the 1930s, that money is gone, and these new deficits are in fact “taxed twice” in the name of Social Security.