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The Water Cooler
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SSI Trust fund
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<blockquote data-quote="Hobbes" data-source="post: 1744154" data-attributes="member: 3371"><p>Well technically just about everything except the cash in your pocket or something tangible like gold is an accounting entry.</p><p>Your checking account is an accounting entry.</p><p>If you own savings bonds at treasureydirect.gov it's an accounting entry.</p><p>If you own paper savings bonds it's not.</p><p></p><p>Ultimately the SS trust fund is backed with the "full faith and credit" of the US just as the bonds that are sold to individual investors both here and abroad.</p><p>That's not to say they won't cut your benefits if they decide to, just that the fund is a lawful trust fund.</p><p><strong>It does exist.</strong></p><p></p><p>In the long run what I think will happen is the .gov will print a lot of money, much more than right now to pay those benefits.</p><p>The majority of politicians are far to cowardly to just cut your benefits or raise your taxes and actually tell you about it while they are doing it.</p><p>But monetary inflation solves several of their problems and they don't get blamed directly.</p><p></p><p>1. They can print a lot of money and pay your benefits with dollars that are worth say 20% less in purchasing power.</p><p>2. It's not just SS beneficiaries, they can pay all the government bondholders back with inflated money as well.</p><p></p><p>It's a very good thing when you can borrow $100 and only pay back $80 in value when it's due.</p><p></p><p>Plan accordingly.</p></blockquote><p></p>
[QUOTE="Hobbes, post: 1744154, member: 3371"] Well technically just about everything except the cash in your pocket or something tangible like gold is an accounting entry. Your checking account is an accounting entry. If you own savings bonds at treasureydirect.gov it's an accounting entry. If you own paper savings bonds it's not. Ultimately the SS trust fund is backed with the "full faith and credit" of the US just as the bonds that are sold to individual investors both here and abroad. That's not to say they won't cut your benefits if they decide to, just that the fund is a lawful trust fund. [B]It does exist.[/B] In the long run what I think will happen is the .gov will print a lot of money, much more than right now to pay those benefits. The majority of politicians are far to cowardly to just cut your benefits or raise your taxes and actually tell you about it while they are doing it. But monetary inflation solves several of their problems and they don't get blamed directly. 1. They can print a lot of money and pay your benefits with dollars that are worth say 20% less in purchasing power. 2. It's not just SS beneficiaries, they can pay all the government bondholders back with inflated money as well. It's a very good thing when you can borrow $100 and only pay back $80 in value when it's due. Plan accordingly. [/QUOTE]
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