Social Security taxes are paid into the General Fund. Social security checks are paid from the General Fund. Government issued itself treasuries. So according to you, if I loan myself $1 million, I have a $1 million asset and a $1 million debt. Bull, I have nothing. Government or anyone else loaning themselves money isn't an asset.
Government took your social security payments and immediately spent the money. Nothing was ever saved, there was never an asset. They just wrote down how much they spent, and you gave the bills to your children. Both to pay social security, and to pay back the t-bills for the money that your generation spent as it came in. Fine, but you don't get to call it an asset, it's us paying your bills.
Thanks...
Isn't it amazing how ignorant the public is?
They believe there is money in social security.
![]()
What evidence do you have that states the Social Security Trust Fund is depleted?
It's not "depleted," it doesn't exist. There is no trust fund. The "T-Bills" were issued by the Federal government to itself. All they did is write down what they spent. Loaning themselves isn't an asset, and no assets means there is no "trust fund."
Who pays social security and medicare today? - Today's taxpayers
Who pays for the the t-bills that comprise the "trust fund? - Today's taxpayers.
There is no trust fund, never was. Nothing was ever saved, it was just all dumped on us by the prior generation.