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In reply to the discussion: Ultra Low Interest Rates A Threat To Social Security [View all]eniwetok
(1,629 posts)42. missing the math?
"You keep missing the math. It's entirely irrelevant what interest rate is paid because there isn't any money there... just debt. If they artificially declare that SS will be paid 5% above market rates, then the impact on the amount that they must pay out over the coming decades is entirely unchanged.
Of course there's no money in the trust fund... even the interest paid is lent back. So if your idea is that if the trust fund had been getting 40-50 billion a year more in interest for last 7 and, say, the next 3 years would not extend the life of the trust fund... then I think we have nothing left to discuss.
And no, I don't in any way believe that SS is anything like a bank account. It's an insurance program. But contributions made in my name are accounted for.
Of course there's no money in the trust fund... even the interest paid is lent back. So if your idea is that if the trust fund had been getting 40-50 billion a year more in interest for last 7 and, say, the next 3 years would not extend the life of the trust fund... then I think we have nothing left to discuss.
And no, I don't in any way believe that SS is anything like a bank account. It's an insurance program. But contributions made in my name are accounted for.
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From previous reports. Just because they're not online does not mean they do not exist.
jeff47
Mar 2016
#41
Well, yeah Congress can always amend the SS Act. But until they do that, it's pretty much a market
Hoyt
Mar 2016
#28
I think they have driven rates down in the hopes of spurring job creating business.
Hoyt
Mar 2016
#29
And it hasn't worked well because of other issues that only Congress, not the Fed, can address.
strategery blunder
Mar 2016
#47
Agreed. Allowing giant banks to borrow money for free from the taxpayers without no requirement
GoneFishin
Mar 2016
#51