General Discussion
In reply to the discussion: Repeat after me - benefit. Ben-e-fit. Benefit. Social Security is a BENEFIT. [View all]jeff47
(26,549 posts)So incredibly long ago that our society has radically changed?
Oh please.
The trust fund is invested in government securities. They were already bought. They aren't IOUs. They are already paying interest, and have been since the 1980s. Reneging on those bonds is the same as reneging on the bonds we sell on the private market - both are backed by "the full faith and credit of the United States". So declaring those bonds worthless would have the same effect on the bond market of declaring all our public debt worthless. Might be nice in the very short run, but nobody's going to buy any future debt.
So no, those bonds will be paid. Not paying them is the dream of stupid Republicans and their enablers...or people deliberately misinterpreting statements as you do with Sanders.
Further. your Chinese line indicates you buy into the fallacy that other governments must buy US Debt. Apparently you're unaware that the vast majority of US debt is owed to US Citizens, companies and institutions. And that while the Chinese bought a lot of debt to prop up the Dollar vs. the Yuan, and massively cut back years ago when that became unsustainable. But the Chinese are fantastic boogeymen to the poorly informed.
Stop trying to steal money from old people to give it to rich people.