So, if I understand this correctly

[Springer9]

1) Social Security is solid, solvent, and fully funded, and
2) The money dries up August 2

[Fumesucker]

1. Succinct and direct..

You'd never get anywhere in DC.

;)

:hi:

[iwishiwas]

14. yup. that is what the media is saying

:grr: :grr: :grr: :grr:

[Raven]

2. yeah, I'm not understanding that either. No $ for stamps? n/t

[aquart]

7. No employees in the offices to lick the stamps.

Us direct-to-the-bank folks will, supposedly, be fine.

If the government employees, you know, all those do-nothings, are sent home, nothing will get done because no one is there to get it done.

If it weren't for the horrendous repercussions, I would consider it a good lesson for people who don't seem to be able to absorb history.

[Raven]

13. somebody still has to process the direct deposit checks but you

may have the answer: no human beings, no checks.

[peace13]

3. Does it have to do with the people who process the payments..

and the money being held by the feds? Kinda like having money in your lock box at the bank but the bank is closed. Don't know for sure, just guessing.

[FSogol]

4. Because all the money goes into the general treasury. Politicians have been looting SS funds for ye

Al Gore's Lock box doesn't sound too stupid now, does it?

If the US defaults, the Treasury will have to pick and choose what to pay since it will be unable to pay everything.

[jtrockville]

16. To be fair, it's not terribly reasonable to keep the 3 trillion surplus

under a mattress.

What else would we do with it?
Invest it in the stock market (with all the risks associated with that)?

Loaning it to the US Government, in exchange for bonds, seemed like the safest way to go, until Republicans started threatening default.

[FSogol]

19. Should have spent it on comic books, soda, and fireworks.

That's what I would have done circa 1972.

[iscooterliberally]

5. This message brought to you by 'The Land Of The Free'.

You know, the country that has more people in prison than any other nation on earth.

[The Wielding Truth]

6. Was money taken from the S. S.trust and used for other things in the government?

[aquart]

9. You mean, was it stolen?

Looted like all the other pension funds? Which, IMHO, should be an offense requiring public execution and corpse desecration.

[The Wielding Truth]

15. Yea. How could that have been allowed? I remember Gore's plea

to keep it safe. I never knew if it was actually being embezzled.

[EFerrari]

8. We have to invade, Social Security has WMD.

[muriel_volestrangler]

10. SS is backed by the full faith and credit of the United States government

and the purpose of the Republican Chicken Game with the debt ceiling is to destroy that full faith and credit (formerly the best credit risk in the world). So, yes, both your statements are true.

[somone]

11. And the job creators need more confidence

Let's make them richer

[FreakinDJ]

12. SS solvent until 2037 - GOP want surplus to fund Tax Cuts

[sunwyn]

17. While having that much just laying around doesn't make sense,

Neither does raiding the fund and having SCOTUS rule that those who raided do not have to legally pay it back. But that's what they did.

[Tuesday Afternoon]

18. welcome to DU.

k&r

[MiniMe]

20. They have funds that are sucured by US Treasury Bonds

Remember all those "worthless" pieces of paper W kept talking about? SS needs to cash in some of those bonds to make the August payments, and if they can't borrow money they won't be able to cash them in

[toddwv]

21. Well...see, the money doesn't really dry up on August 2nd...

we just need it for other more important things like building roads and schools in countries that we occupy as well as making sure that Fox "News" makes an even larger profit by giving Newscorps tax rebates and most importantly, we need it to pay for multiple long-term military engagements. These aren't wars...no,no,no,no,no...can't call 'em wars.

[in_cog_ni_to]

22. The money dries up ONLY for the people who really need it and depend on it to live.

I often wonder where all that bailout money for Wall Street came from? How do those kind of funds miraculously become available, but when seniors and poor people need their money to actually LIVE, it disappears. It's magic.