Does the Gov really owe Social Security that much!

[Lobo27]

I read something earlier saying as much, so I search and sure enough a lot of places stated as much. That just seems mind boggling to me.
2.6rillion - OASI
150billion - DI
350billion - Medicare

Also that the government owes intragovernmental programs nearly or over 5trillion. Programs that are funded by the people or the government that aren't meant to cover deficit or other things..

I guess, I have been truly ignorant, I know the government owed, but not numbers like this. Also read that nearly trillion of that debt was acquired during the Nixon years...

[1-Old-Man]

1. Keep on reading

I don't think any of the numbers you gave are accurate, they are all far far too low. As I understand it the Social Security Administration holds bonds issued by the Agencies that total about 2/3 of the national debt, which I believe is currently standing somewhere near $15 Trillion. Those bonds constitute the social security trust fund. If that is in fact true it means that the Government owes itself about $10 Trillion dollars.

[bigbrother05]

2. Think how much worse it would be if SS invested in Wall Street

The social trust fund invested in gov't bonds, not over the counter stocks. That protected the money from the bubbles and crashes, but not from Congress. The Bush tax cuts and two wars were "off budget", meaning there was never any attempt to offset or pay for them.

Because Clinton had put the gov't and economy on a positive track, W and his henchmen pulled a fast one that was abetted by Greenspan and the MSM.

The 0.01% have been busy filling their pockets and offshore accounts because they know the next crash will wash up on them as well. The 47% are in the most dire circumstances, but the next 47% will join them in the next crash and then there will be hell to pay.

He is not a populist warrior, but PBO is smart enough to see how things could play out and he's trying desperately to get the elites to wake up before they bring down everyone.