Economy

Warpy

(113,131 posts)

10. The trust fund is gone, robbed for decades by Congress

Sun May 14, 2023, 09:05 PM

May 2023

who used Social Security tax increases to disguise what Republican tax giveaways to the rich did to the deficit.

Social Security is paid out of the General Fund.

I don't know what will happen if Congress puts the country into default. I suspect Biden will do an end run around the shitheads, either using the Fourteenth Amendment or some other mechanism that hasn't yet been discussed.

Next time Democrats get control, the silly debt ceiling limit legislation needs to be repealed. Then they can go to work on TFG's ruinious tax cuts for billionaires.

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I don't have understanding. If SS benefits are paid from a trust fund, [View all] sprinkleeninow May 2023 OP

For one thing viva la May 2023 #1

OK, but if you have direct deposit, that's still affected? sprinkleeninow May 2023 #2

"... we would simply not have enough cash to meet all of our obligations," Jim__ May 2023 #3

I did read that. The last time this happened, I can't recall if my parents were affected badly. sprinkleeninow May 2023 #4

It has NEVER happened before Thunderbeast May 2023 #6

I realize I meant shutdown. My head... sprinkleeninow May 2023 #7

I sure hope Biden follows Larry Tribe's advice viva la May 2023 #11

The "Trust Fund" is only an accounting construct. Thunderbeast May 2023 #5

Thanx much. 👊 sprinkleeninow May 2023 #8

It is hard for me to believe that in my country we are talking about cutting off old people's source Chainfire May 2023 #9

The trust fund is gone, robbed for decades by Congress Warpy May 2023 #10