General Discussion
In reply to the discussion: I Love Social Security [View all]sabrina 1
(62,325 posts)to that here.
Here are the facts, not so much for you as it appears you have chosen to accept the distortion of the facts for some reason, but just in case there is anyone, which I doubt being this is a Democratic forum, who is not informed about this program
We the people are Creditors of the Fed Gov. Iow, they borrowed from us.
Same thing with China, Japan and others. they borrowed from them also.
Why would anyone lend so much money to the US Fed Govt you might wonder? Well, because they GUARANTEE that it will be paid back, and they issue in exchange for that loan, US Treasury Bonds. Those Bonds are viewed, obviously, as one of the safest investments in the world. They are backed by the Full Faith and Credit of the US Govt. China would freak out if the US defaulted on any of its creditors, especially the American People. The whole country would collapse if all of our creditors began calling in their loans.
Do you get the picture yet? WE, the PEOPLE, like every other US creditor made an investment in US Treasury Bonds and we have been receiving interest on those bonds every year.
The US Government CANNOT renege on those Bonds, can they? Because if they do, the world would panic. All of its other creditors would panic.
Now that this is clear, for you to say 'the fund is smoke and mirrors' means that so is China's loan, THEY must be worried if they read your comment.
You are basically saying the word of the US Government, it's Treasury Bonds, its 'full faith and credit' are 'smoke and mirrors! If that is TRUE, and you have information the rest of us don't have, then we have way, way, way more than SS to worry about.
Iow, your comment is pure scare tactic BS.