One thought on “Forbes Post, “The Social Security Trust Fund Is Real – But So What?”

  1. This is a very confusing subject thanks to FDR’s selling the program to Americans by creating the term ‘trust fund’ to comfort fears. As you indicate, there is no separate pot of money here but just promises from the government, which are just as valid as a Treasury note’s promise to pay. Both based on the creditworthiness of the U.S.A.
    What I object to is the use of the terms ‘insolvent’ or ‘bankrupt ‘ when the paper accounting for accumulated payroll tax inflow becomes less than the paper accounting for SSN outflows. Since the left hand of the government can always borrow to fund the right hand, there can be no such thing as insolvency.


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