0 sats \ 31 replies \ @Satosora 7 May \ parent \ on: US Treasury issues 125 billion dollars worth of new bonds this week econ
what? They were only supposed to live 3 to 5 years on it? I thought it was a pension plan for the old.
write
preview
10 sats \ 30 replies \ @Undisciplined 7 May
Eligibility was initially set at the same age as average life expectancy, so on average people weren't eligible for long before they died.
reply
21 sats \ 29 replies \ @Satosora 7 May
So there should be a huge amount that is unclaimed? I hope my parents are able to draw from it forever lol I know that is the wrong way of thinking, but I told them to invest their social security money because they have a simple lifestyle.
reply
10 sats \ 28 replies \ @Undisciplined 7 May
If it had been a real trust fund, then there would have been extra funds from back then. However, it has always been a pay as you go program. Current benefits are paid from current revenues: there are no savings.
reply
21 sats \ 5 replies \ @Cje95 7 May
Well they have used the funds to keep the postal service going lmao the longest running money drain in US history since it has never made money
reply
0 sats \ 4 replies \ @Satosora 7 May
I realize it is a money drain, but imagine if you didnt have the post. Life would have sucked 20 to 30 years ago. Some public services wont make money, that is the truth.
reply
10 sats \ 3 replies \ @Cje95 7 May
I mean lets be honest for over 250 years of losing money... ya gotta earn a reward for that
reply
0 sats \ 2 replies \ @Satosora 8 May
I do enjoy seeing those white grumman vans out though. Always put a smile on my face. For some reason, they can keep the same vehicle running for decades when the average person changes their car every 5 years.
reply
10 sats \ 1 reply \ @Cje95 8 May
Its the one good military grade product I swear lol
view replies
0 sats \ 21 replies \ @Satosora 7 May
I thought it was a large trust initially. I thought they were investing it the whole time the money was sitting? Wrong concept?
reply
31 sats \ 20 replies \ @Cje95 7 May
NGL what would they invest in? It not like it a sovereign wealth fund. The whole idea was to have money to pay for the aging out population and the excess was used to prop up shortfalls in government revenue like with the postal service. However they cannot keep doing that so we have an issue of what to do
reply
21 sats \ 19 replies \ @Satosora 7 May
I thought they would invest in the stock market and everything. Some percentage in bonds.
reply
21 sats \ 2 replies \ @Cje95 8 May
I dont think the Federal Government is allowed to invest in itself via bonds if that makes sense. The stock market sounds good but what if there was a crash in today's day and age? The government wouldn't have anything to fall back on at least a pile of cash has value in a depression
reply
0 sats \ 1 reply \ @Undisciplined 8 May
Maybe the Fed could create a bond instrument for the government to invest in: You buy our bonds and we'll buy yours.
view replies
10 sats \ 15 replies \ @Undisciplined 8 May
George W. Bush proposed this and it didn't go anywhere.
In general, messing with social security is a complete non-starter politically.
reply
21 sats \ 0 replies \ @Satosora 8 May
Yes, when the biggest generation is voting, I am sure nothing can get done.
reply on another page
10 sats \ 13 replies \ @Cje95 8 May
I think though since the biggest voting block is getting older and they are going to run into well.... either raising the age a couple years or getting their benefits cut in half the idea will become more acceptable. Its only going to be once their backs are up against a wall that they will bend and break
view replies