19 Apr 2023 7:50 am
Gee, that's funny, seeing how the BOARD OF TRUSTEES of the Social Security and Medicare TRUST FUNDS are ALL saying that by 2034, the FUNDS WILL BE DEPLETED!! AND THAT INVOLVES DOING NOTHING which is PRECISELY what you and your NAZI ILK are demanding happen- do NOTHING!!razoo » 19 Apr 2023, 7:41 am » wrote: ↑ Millions of republicans refusing to support republican initiatives could sink the GOP name into oblivion ....... we know this ......which would be good for the nation BECAUSE ALEC and MAGA would no longer have a home.
We do not want history to repeat itself:
SSI trust fund does just contain IOUs, but they’re not worthless. If they are, someone should tell that to the very smart and very rich people, and the central banks of Japan, China, and many other countries that hold a large share of their assets in U.S. government bonds.
When the trust fund was created in 1935, the law stipulated that any excess revenues coming into the Social Security system must be used to purchase federal government bonds. (At the time, the stock market had just lost over 75% of its value and was understood to be unsafe.)
Federal bonds are absolutely safe; the government of the United States has never defaulted on any bond obligation.
Former President Bush appeared to be ready to break this tradition. He appeared to want the Treasury to “selectively default” on the bonds in the Social Security trust fund.
He obviously felt the United States doesn’t have to meet its obligation to the working people of America the way it meets its obligations to ultra-wealthy bondholders.
His suggestion that the U.S. government might not be willing to repay its debt obligations was remarkable and for a time completely disrupted global financial markets. YES THE EARTH SHOOK VIOLENTLY.
HEY KEVIN MCCARTHY GIVE IT UP = TELL ALEC NO MORE NONSENSE!!!!!!!!!!!
Did you miss that MEMO??