The best story wins. Not the best idea. Not the right answer. Just whoever tells a story that catches people’s attention and makes them feel good. George Packer wrote: "The most durable narratives are not the ones that stand up best to fact-checking. They’re the ones that address our deepest needs and desires." This drives you crazy if you assume the world is swayed by facts and objectivity because it clearly isn't.
1. I started saving in 1984 when I finished collage. That’s forty-one years of ups and downs which has helped me know myself.
2. Specific purchases for sure. Going to Africa with my son was priceless.
3. Yes
4. I’m retired and yes.
5. What I have now is enough.
6. My family gives me my sense of purpose. I have the time to spend time with and help parents, kids and grandkids.
7. Spouse and kids will help me out when the time comes. LTCI and plenty of investments minimize the risk of depleted savings.
8. Wills, POA’s are in order. Investments have been simplified to just one traditional and Roth IRA’s each for the wife and I and one joint brokerage account. Everyone knows where the notebook is with all the necessary paperwork is. Already downsized and emptied the house.
Thanks for your answer. When money comes out of the general fund for anything it is impossible to determine which income source to the general fund provided that money. It could be money raised via public borrowing, or it could be general tax revenue. But whatever revenue source actually provides the money to transfer to SS, I agree with you that it increases the need for public borrowing.
To me the fact SS trust invested in bonds does not mean it is funded by general revenue and taxes.
The money to pay the interest on the SS bonds and to pay off the SS bonds comes from general revenue and taxes. You know this. Passing that money through the bookkeeping process of the bonds and the trust fund doesn't change that simple fact. Of course, feel free to ignore that simple fact.
Who said anything about investing in the stock market? I sure didn't. Since we seem to be in agreement that money for the interest on and redemptions of the SS treasury bonds comes from public issue bonds and other sources of income to the general fund, just what did you find "Not accurate at all" in my original post?
No, these bonds are not bad and I never said that they were. The big lie is that "Congress stole the SS money." The truth is that Congress spent excess SS revenues on non-SS expenditures and will send money, along with interest, back to the SS trust fund from general revenues when the trust fund needs the funds. Whether this plan was good or bad is not for me to decide. But these facts are just that. This is how it works and what has and is happening.
So now the light appears to have come on. Yes, general revenues do in fact pay social security benefits via the mechanism of these special treasury bonds.
Comments
The best story wins. Not the best idea. Not the right answer. Just whoever tells a story that catches people’s attention and makes them feel good. George Packer wrote: "The most durable narratives are not the ones that stand up best to fact-checking. They’re the ones that address our deepest needs and desires." This drives you crazy if you assume the world is swayed by facts and objectivity because it clearly isn't.
Post: The great uninformed and misinformed population worries Quinn
Link to comment from April 23, 2025
1. I started saving in 1984 when I finished collage. That’s forty-one years of ups and downs which has helped me know myself. 2. Specific purchases for sure. Going to Africa with my son was priceless. 3. Yes 4. I’m retired and yes. 5. What I have now is enough. 6. My family gives me my sense of purpose. I have the time to spend time with and help parents, kids and grandkids. 7. Spouse and kids will help me out when the time comes. LTCI and plenty of investments minimize the risk of depleted savings. 8. Wills, POA’s are in order. Investments have been simplified to just one traditional and Roth IRA’s each for the wife and I and one joint brokerage account. Everyone knows where the notebook is with all the necessary paperwork is. Already downsized and emptied the house.
Post: Ask Me a Tough One by Jonathan Clements
Link to comment from April 18, 2025
Thanks for your answer. When money comes out of the general fund for anything it is impossible to determine which income source to the general fund provided that money. It could be money raised via public borrowing, or it could be general tax revenue. But whatever revenue source actually provides the money to transfer to SS, I agree with you that it increases the need for public borrowing.
The money to pay the interest on the SS bonds and to pay off the SS bonds comes from general revenue and taxes. You know this. Passing that money through the bookkeeping process of the bonds and the trust fund doesn't change that simple fact. Of course, feel free to ignore that simple fact.Post: RDQ There is so much to rant about these days. Let’s go for the people who don’t believe facts-perhaps about Social Security
Link to comment from April 13, 2025
Several organizations have put out proposals to address the issues. Here's one from the Committee for a Responsible Federal Budget that includes an interactive tool to explore the options. The Reformer: An Interactive Tool to Fix Social Security The Government Accounting Office Put out a good report on options in August 2024 There Are Options for Reforming Social Security, But Action is Needed Now | U.S. GAO A little time with Google will find many more.
Post: RDQ There is so much to rant about these days. Let’s go for the people who don’t believe facts-perhaps about Social Security
Link to comment from April 12, 2025
The courtesy of reply would be appreciated.
Post: RDQ There is so much to rant about these days. Let’s go for the people who don’t believe facts-perhaps about Social Security
Link to comment from April 12, 2025
Who said anything about investing in the stock market? I sure didn't. Since we seem to be in agreement that money for the interest on and redemptions of the SS treasury bonds comes from public issue bonds and other sources of income to the general fund, just what did you find "Not accurate at all" in my original post?
Post: RDQ There is so much to rant about these days. Let’s go for the people who don’t believe facts-perhaps about Social Security
Link to comment from April 11, 2025
deleted
Post: RDQ There is so much to rant about these days. Let’s go for the people who don’t believe facts-perhaps about Social Security
Link to comment from April 11, 2025
I hope not. Hopefully you have a better understanding of how the money flows back and forth between the SS trust funds and the general fund.
Post: RDQ There is so much to rant about these days. Let’s go for the people who don’t believe facts-perhaps about Social Security
Link to comment from April 10, 2025
No, these bonds are not bad and I never said that they were. The big lie is that "Congress stole the SS money." The truth is that Congress spent excess SS revenues on non-SS expenditures and will send money, along with interest, back to the SS trust fund from general revenues when the trust fund needs the funds. Whether this plan was good or bad is not for me to decide. But these facts are just that. This is how it works and what has and is happening.
Post: RDQ There is so much to rant about these days. Let’s go for the people who don’t believe facts-perhaps about Social Security
Link to comment from April 10, 2025
So now the light appears to have come on. Yes, general revenues do in fact pay social security benefits via the mechanism of these special treasury bonds.
Post: RDQ There is so much to rant about these days. Let’s go for the people who don’t believe facts-perhaps about Social Security
Link to comment from April 10, 2025