This is a really good explainer by porkopolis (npub1ath…4k6d) on the U.S. social security trust fund.
The trust fund only exists as an accounting fiction. That is, there are no assets backing it up. Put another way, it could have been designed to be backed by treasury bonds, for example, but the issuance of those additional treasuries (i.e. government liabilities) would consequently just push the national debt higher by the same amount (currently about $2.8T). Regardless, everyone - even the government - expects it to be in the negative in about 10 years, so there won't even be any fictional assets anyway.
https://www.youtube.com/watch?v=0zEmsH1VIuQ
JudgeHardcase / Judge Hardcase
npub1k7…x7ehv
2024-10-15 10:19:25
Author Public Key
npub1k7v6uflqxu9js45e8ek53u2azefe6j49r7lna0da90zq7c9y6f0q8x7ehvPublished at
2024-10-15 10:19:25Event JSON
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"content": "This is a really good explainer by nostr:npub1ath4je07y7py74nvu044fum3f8hz3exc3dtcv782qg94w5gaddusl74k6d on the U.S. social security trust fund.\n\nThe trust fund only exists as an accounting fiction. That is, there are no assets backing it up. Put another way, it could have been designed to be backed by treasury bonds, for example, but the issuance of those additional treasuries (i.e. government liabilities) would consequently just push the national debt higher by the same amount (currently about $2.8T). Regardless, everyone - even the government - expects it to be in the negative in about 10 years, so there won't even be any fictional assets anyway.\n\nhttps://www.youtube.com/watch?v=0zEmsH1VIuQ",
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