Unfortunately, the Government can only "invest" the excess SS taxes in special Treasury Bills, which are nothing more than a commitment to acquire more debt on the global markets when SS needs to "cash them it" to pay benefits. It is a bizarre situation.
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Originally Posted by Guest
Yes, excellent point. A common misconception is that there's a big wad of money sitting safely in a "bank" or trust fund waiting to be tapped. It's all basically a big IOU and depends on current intake to ideally be at least a bit more than the payout.
I agree with previous poster ... mismanagement by at least a generation of politicians from both parties. They do what they all do ... kick the can down the road and hope that, if/when something hits the fan, they will be safely out of office. This is one topic where R's and D's can be genuinely bipartisan.
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