Trump can balance the federal budget with one "order"

[james dixon]

If Trump really wants to balance the Federal budget then just forgive the $trillions Congress has borrowed from the Social Security Trust Fund. This will have no effect on Social Security. It has been running a surplus since the beginning and it will continue to do so.

Excess funds are used by the government for non-Social Security purposes, creating the obligations to the Social Security Administration and thus program recipients. However, Congress could cut these obligations by altering the law. Trust Fund obligations are considered "intra-governmental" debt, a component of the "public" or "national" debt. As of June 2015, the intragovernmental debt was $5.1 trillion of the $18.2 trillion national debt

Do you agree or not--?

 

[Nietzsche]

...

I don't think you know how laws or economics work, and I beg you cease and desist on making these views known to people in power.

 

[james dixon]

...I don't think you know how laws or economics work, and I beg you cease and desist on making these views known to people in power.

I'm 67 and have a few years left. So what do I have to lose?

So tell me what is wrong with this idea and if I agree I will correct my statements here and on other threads

I'm listening

 

[Kemosloby]

Or just get out of the war business since the Geneva convention requires it to be not only non-profit but a complete loss.

 

[Nietzsche]

I'm 67 and have a few years left. So what do I have to lose?

So tell me what is wrong with this idea and if I agree I will correct my statements here and on other threads

I'm listening

For one, while the debt is not remotely the problem many make it out to be, you can't just ignore it. You also can't just decree that everyone balance their budget. The President doesn't have that kind of power, and until the various committees agree on a budget the last-passed budget is what comes into effect so you don't have vital programs shutting down. And you also can't just "forgive" the debt. That debt is owned by many, many different people now.

 

[Quetzal]

I'm 67 and have a few years left. So what do I have to lose?

A very dangerous and selfish mindset.

 

[james dixon]

.,.,. And you also can't just "forgive" the debt. That debt is owned by many, many different people now.

I am talking about the money our Federal Government borrowed from the SS Trust fund. NOT many, many other people

 

[james dixon]

A very dangerous and selfish mindset.

Dangerous and selfish mindset--- WHAT?????

Forgiving the debt created from borrowing from the SS Trust fund is not being dangerous or selfish, perion

next

 

[Nietzsche]

I am talking about the money our Federal Government borrowed from the SS Trust fund. NOT many, many other people

That money doesn't just cease to exist. The deflation that'd occur would cripple the world economy.

 

[Quetzal]

Dangerous and selfish mindset--- WHAT?????

Forgiving the debt created from borrowing from the SS Trust fund is not being dangerous or selfish, perion

next

Not what I said. I thought perhaps in the 67 years you have been alive you might have learned to read. I suppose not. At any rate, I was referring to your attitude and approach to the topic as selfish and dangerous.

 

[Lyndon]

Because eliminating the debt to Social Security would eliminate Social Security payments to everyone, DUH!!

 

[esmith]

If Trump really wants to balance the Federal budget then just forgive the $trillions Congress has borrowed from the Social Security Trust Fund. This will have no effect on Social Security. It has been running a surplus since the beginning and it will continue to do so.

Excess funds are used by the government for non-Social Security purposes, creating the obligations to the Social Security Administration and thus program recipients. However, Congress could cut these obligations by altering the law. Trust Fund obligations are considered "intra-governmental" debt, a component of the "public" or "national" debt. As of June 2015, the intragovernmental debt was $5.1 trillion of the $18.2 trillion national debt

Do you agree or not--?

Because eliminating the debt to Social Security would eliminate Social Security payments to everyone, DUH!!

I think both of you along with others might be a little mistaken here.
First the Government has never "borrowed" money from the Social Security Fund
Social Security History
Second there is no "debt" so to speak. Except that today's workers pay for yesterdays workers
from 5 facts about Social Security
As of July 31, 2015 those trust funds together held $2.83 trillion in Treasuries. (Some people characterize that as the government “borrowing from” or “raiding” Social Security, but the system is in essentially the same position as any other investor who buys Treasuries.)

 

[Falvlun]

So you just want the government to steal our retirement money?

 

[metis]

Imagine what would have happened in 2008-9 if the Republicans under Bush had succeeded in putting much of your Social Security and Medicare into the stock market when it took a noser.

 

[Revoltingest]

Imagine what would have happened in 2008-9 if the Republicans under Bush had succeeded in putting much of your Social Security and Medicare into the stock market when it took a noser.

It would've since recovered, & then some...
...unlike the insolvent "trust fund" we have now.

 

[esmith]

Imagine what would have happened in 2008-9 if the Republicans under Bush had succeeded in putting much of your Social Security and Medicare into the stock market when it took a noser.

Would have really been nice. The stock market has averaged 12% increase a year since 2009. And today the Dow went over 21000, on Jan 20 2009 it was 7949.
Of course when someone only looks at the short term vice the long term one can understand the shortsightedness of some.

 

[james dixon]

“borrowing from” or “raiding” Social Security, but the system is in essentially the same position as any other investor who buys Treasuries.)

To clarify your statement; tell me; is the surplus SS funds that is transferred into treasuries considered "debt" when tabulating the national debt?

 

[james dixon]

Because eliminating the debt to Social Security would eliminate Social Security payments to everyone, DUH!!

Social Security payments are paid in US dollars from our SS tax dollars that we as American workers pay in. This is apart from the "debt"

 

[james dixon]

So you just want the government to steal our retirement money?

No, there is more cash coming into the SS Trust fund than what it pays out in SS benefits. It is the "surplus" that I am taking about.

 

[Lyndon]

I suggest you educate yourself about the process before posting nonsense!!