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In reply to the discussion: Please stop repeating false Republican talking points! [View all]yodermon
(6,143 posts)17. The very next paragraph.
In the past, the trust funds have held marketable Treasury securities, which are available to the general public. Unlike marketable securities, special issues can be redeemed at any time at face value. Marketable securities are subject to the forces of the open market and may suffer a loss, or enjoy a gain, if sold before maturity. Investment in special issues gives the trust funds the same flexibility as holding cash.
from that same page:
The Social Security Trust Funds are the Old-Age and Survivors Insurance (OASI) and the Disability Insurance (DI) Trust Funds. These funds are accounts managed by the Department of the Treasury. They serve two purposes: (1) they provide an accounting mechanism for tracking all income to and disbursements from the trust funds, and (2) they hold the accumulated [font color=red]assets[/font]. These accumulated assets provide automatic spending authority to pay benefits.
Another link, more detail on the special-issue securities,
http://www.ssa.gov/oact/ProgData/specialissues.html
Special issue types and properties
There are two types of special issues: short-term certificates of indebtedness and long-term bonds.
The certificates of indebtedness are issued on a daily basis for the investment of receipts not required to meet current expenditures, and they mature on the next June 30 following the date of issue.
Special-issue bonds are normally acquired only when special issues of either type mature on June 30. The bonds have maturities ranging from one to fifteen years.
another link: http://www.usconstitution.net/const.html#Am14
The validity of the public debt of the United States, ...shall not be questioned
You are questioning the validity of the public debt of the United States, and as such are in violation of the Constitution. Please turn yourself in.
have a nice day.
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Why did you throw in Medicare, much of which has always been paid from the general fund?
bornskeptic
Dec 2011
#22
It's the linking of GF revenue to SS that concerns many, not that SS is taking an immediate hit.
RUMMYisFROSTED
Dec 2011
#8
There is no money in any "Social Security Trust Fund", so how could a tax cut change that?
Romulox
Dec 2011
#9
so all those us treasury bonds everyone owns the world over, are worth "no money"?
yodermon
Dec 2011
#12
The "Trust Fund" doesn't own any US currency (hard cash), nor any US Treasury Bonds.
Romulox
Dec 2011
#13
Right. I provided the link so you could read on. It's all there. No cash. No Treasury Bonds.
Romulox
Dec 2011
#19
That's not what Bernie Sanders says and I trust his judgement better than anyone else
doc03
Dec 2011
#20
Why are you putting W. Bush quotes up with a heading indicating they are Obama's words?
rgbecker
Dec 2011
#42
yes, you are missing that Obama is making the same arguments as those Bush quotes.
hfojvt
Dec 2011
#43
It appears some here actually buy into Repig Talking points whole hog. Sad.
MjolnirTime
Dec 2011
#27
Most of our policy is a mess of Republican talking points Gingrichcare, Payroll Tax Holidays,
TheKentuckian
Dec 2011
#29
When they said getting Democrats in line is like herding cats, they weren't kidding.
rgbecker
Dec 2011
#31
Yeah, well if we are going to continue the payroll tax cut we need to raise FICA cap very high
Yo_Mama
Dec 2011
#55