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10 sats \ 30 replies \ @Undisciplined 7 May 2024 \ parent \ on: US Treasury issues 125 billion dollars worth of new bonds this week econ
Eligibility was initially set at the same age as average life expectancy, so on average people weren't eligible for long before they died.
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.
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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.
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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
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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.
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I mean lets be honest for over 250 years of losing money... ya gotta earn a reward for that
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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.
I thought it was a large trust initially.
I thought they were investing it the whole time the money was sitting?
Wrong concept?
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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
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I thought they would invest in the stock market and everything.
Some percentage in bonds.
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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
George W. Bush proposed this and it didn't go anywhere.
In general, messing with social security is a complete non-starter politically.