Does anyone know how much money the goverment owes the S.S fund by I.O.U's

[southernleftylady]

anyone know how many I.O.U's are owed the SS fund? tia!

[GetTheRightVote]

1. I would like to know the answer to that question as well

:kick:

[bryant69]

2. THere are no IOUS

There are Treasury Securities. Saying IOUs just buys into the idea that the United States can just not pay that money back. The US government has issued lots and lots of Treasury Securities to the Social Security Trust Fund, but also to individual investers, company pension plans, mutual funds, foriegn goverments, local and state governments and so on and so forth. '

To suggest we might choose to defealt on the Social Security Treasuries is irresponsible. Treasuries are, as most investers will tell you, extremely safe.

So the answer to your question is $0.00. There are no IOUs

Bryant
Check it out --> http://politicalcomment.blogspot.com

[indepat]

5. But unlike other Treasuries which can be sold in the open market,

I seem to recall that Treasuries sold to the SS trust fund are non-negotiable, i.e., can not be sold in the open market.

[bryant69]

11. Your point being?

[indepat]

13. If not negotiable then an IOU that can be redeemed only by additional

borrowings or additional taxes rather than being sold in the market place. This brings into the question the willingness and ability to meet future obligations. The handwriting on the wall would seem obvious to all.

[kentuck]

9. Good point, Peter..

Don't call them IOU's.

[dweller]

3. here's one source

"$3281.6 billion of the national debt is owed not to foreign and domestic investors in
government bonds, but to the very "trust funds" on which our retirement security
depends. The money is spent. There is no trust, and there are no funds."
http://www.freepress.org/departments/display/20/2005/1134

i'm sure there are others.
dp

[bryant69]

4. What crap

Is this Democratic Undergroudn or did I stumble onto Free Republic by mistake?

There are funds, but said funds are invested in United States Treasuries.

[dweller]

10. counter-crap

if you've got a problem with the figures, provide some source.
if you've got a problem with the site, take a better look around it. Freepress is a progressive site.

if you've got a problem with me, talk to a mod. The only one i see stumblin' here is you.

dp

[bryant69]

12. It might be a progressive site

But when you type "There is no Trust and there are no funds" that looks a lot like what Conservatives are saying right now (in order to suggest that we will be broke in 2017 rather than 2042 (or 2052). He's right that the problem with the Trust Fund is a reflection of the hash that President Bush has made of the Deficit. But I don't agree with the suggestion that the money has been spent. THe money has been loaned--that's a huge difference.

Compre the revenue lost to the Bush Tax Cuts and the money needed to pay those debts back. They aren't even comparable.

[papau]

7. Good Grief - even the number is a lie as to the amount of Soc Sec trust

fund held government bond assets.

I'd sell those bonds on the open market before Japan finds out they are worthless - and then invest the proceeds in real estate.

now is that not a plan!

LOL

:-)

[slipslidingaway]

6. Social Security site

this might be what you are looking for..

http://www.ssa.gov/OACT/ProgData/assets.html

"The assets of the Old-Age, Survivors, and Disability Insurance Trust Funds consist of Federal Government securities plus relatively insignificant amounts of cash. The growth of the assets from the end of December 1986 through the end of September 2004 is shown in the graph at left.

Assets at the end of December 1986 were about $47 billion; by the end of September 2004, assets totaled about $1,635 billion."

old age and disability trust funds combined

http://www.ssa.gov/OACT/STATS/table4a3.html

just the old age component of the trust fund

http://www.ssa.gov/OACT/STATS/table4a1.html


"There are two general types of such securities:

special issues—securities available only to the trust funds; and
public issues—securities available to the public (marketable securities)."

you can create different tables from this link

http://www.ssa.gov/OACT/ProgData/investheld.html

[GR]

8. Total Debt $7T; Internal Debt $3T...

That $3T includes both bonds signifying borrowing from Social Security and bonds to other government pension funds I believe.

If you look at today's budget numbers, you can see that a huge portion of the cash flow in comes from FICA Payroll Taxes or Social Security and Medicare Taxes...Social Security is 6.2% each from employee and employer with a $90K cap on earnings while Medicare is 1.45% each with no earnings cap...Total around 15.3% payroll taxes .

Republicans like to pretend that if employers didn't have to pay payroll taxes, they would give that portion to the employees....ROFLMAO....:silly: