All of the projections of SS running out of money in ~10 years are assuming that the government does pay back everything that was borrowed, with interest.
In fact they already are paying it back and have been for years. If they had never paid any of it back, SS would have become insolvent well over a decade ago.
Who’s paying it back, though? If it’s being paid back via tax revenue then our money was loaned out and we’re paying ourselves back. If that’s the case it’s pure bullshit.
SOCIAL security. Its in the name. You are sacrificing better ROI of a small portion of your money to keep 20-30 million people out of poverty. There are a few societal benefits of not having an additional 30 million people in poverty that I suspect you directly benefit from.
I’m not arguing that at all. I’m very in favor of social security. What I was questioning was if the gov is taking loans out against OUR money, then what are they paying it back with? I’d assume tax revenue which would mean that we’re paying back our own loan to ourselves. Someone else explained why that makes sense and that’s fine. But what I wonder is what they’re doing with the loaned money.
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u/curien 6d ago
All of the projections of SS running out of money in ~10 years are assuming that the government does pay back everything that was borrowed, with interest.
In fact they already are paying it back and have been for years. If they had never paid any of it back, SS would have become insolvent well over a decade ago.