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Member since: Sun Aug 27, 2017, 08:53 PM
Number of posts: 1,220

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Status of the Social Security Trust Fund, Income and Outgo: Fiscal 2022

by Wolf Richter • Nov 8, 2022 • 84 Comments
Income jumped by $105 billion to a record $1.04 trillion as more people worked and earned higher wages, and contributed more.



The balance in the Social Security Trust Fund – technically known as “Old-Age and Survivors Insurance (OASI) Trust Fund” – declined by 1.2% during the US government fiscal year through September 30, to $2.72 trillion, according to figures released by the Social Security Administration. In the prior year, the balance had dropped 2.0%; in 2018, the balance had dropped by 0.8%. Those were the only three fiscal-year declines in the fund balance since 1987.

Despite those declines, since 2010, the balance of the fund has risen by 12.1%. These figures to not include the Disability Insurance Trust Fund, which by law is a separate entity from the OASI Trust Fund, and is not part of this discussion here.

Interest income crushed by Fed’s interest rate repression.
In the fiscal year, the Fund earned $65.1 billion in interest on its Treasury security holdings. This interest income was 40% lower than in 2010, the year of peak interest, though the Fund balance was much lower at the time. The long-term securities it held were paying much higher interest rates than the new long-term securities that replaced them when they matured during the era of the Fed’s interest rate repression.

Retirees counting on their fixed income investments, such as CDs and bonds, for their supplemental cash flow have seen an even worse devastation of their cash-flows following the Fed’s interest rate repression that started in 2008.

Much more at link.
Posted by nature-lover | Tue Nov 8, 2022, 05:17 PM (2 replies)

Need to remind voters about the Repubs. separating children from parents at the border.

They have usurped the border/immigrant message with Abbott's lies.

Stephen Miller. Has he been heard from lately? Usually in the thick of all things Trump. nt

Posted by nature-lover | Sun Sep 4, 2022, 10:32 AM (8 replies)

CNN calls Biden "Indecisive" in the headline on the website.


"How an indecisive Joe Biden finally made his mind up on student loan debt"


"Even for a famously indecisive President, the question of whether to use executive powers to forgive student loan debt appeared particularly long and drawn-out. Interviews with nearly a dozen people familiar with internal deliberations revealed a myriad of factors fueled the delay, none more than Biden's concerns over inflation and his insistence that the forgiveness plan would not be seen as a handout to the wealthy."

REALLY CNN??? "Famously indecisive President"

Had an orderly transition occurred, would the document theft been possible? nt

I Taught My 4th Grade Class About White Privilege And Their Response Was Eye-Opening

A must-read article by Justin Mazzola from the Huffington Post:



"Our nation’s best chance at progress is for professional teachers to shed light on its complicated past while empowering students to formulate their own fact-based opinions ― and politicians shouldn’t be standing in the way. Teaching our youth all of America’s triumphs and failures will empower them as adults to strive toward a more perfect union. A few of those kids may even end up with their photos alongside our past presidents. And if they ascend to leadership, they’ll be far more prepared than their predecessors to ensure our country is working for everyone."

Trump had no legislative history when he ran in 2016. DeSantis does.

Voters did not know what they were in for with a Trump presidency. We had fears, but no concrete evidence of how he would govern. DeSantis is an entirely different story. We have proof of how destructive he is and will be if elected.

Serious question: Are condoms next on the contraceptive hit list?

I called my representative's office this morning to tell him how disappointed I was with his vote yesterday. I also asked if condoms would be next. They politely asked for my contact info. and thanked me. Hope I hear from him.

If legal, the media should show the carnage. These images will be impactful and may initiate change.

The images will be horrible. But, I think 2nd amendment zealots as well as the general public need to see them.

The media shows the happy school pictures of these precious children and the interviews of their devastated families, but not the reality of what these weapons have done. We as a country should be outraged! Words are forgotten; images are not.

In Laredo, bus brigade is vaccinating Mexican citizens with COVID-19 shots that Texans aren't using

From Texas Tribune:

Launched in June, a cross-border effort using buses and donated vaccines is helping roughly 2,000 Nuevo Laredo residents per day get COVID-19 shots in Laredo — 10% of Texas’ daily total.

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