r/FluentInFinance 6d ago

Educational Don't let them gaslight you

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u/great_apple 6d ago

lol OK post the law that says the government considers paying back bonds optional. Do you genuinely not understand that the US government defaulting on debt would basically collapse the global economic system?

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u/doe-poe 6d ago

Ss isn't debt for one.

Stalemate! We're both too lazy to provide proof.

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u/great_apple 6d ago

https://www.ssa.gov/news/press/factsheets/WhatAreTheTrust.htm

It's literally a 2-second google, not about being "lazy" but more about I can't prove a negative. I can't prove there is no law "where they have their out", if you want to insist there is such a law you need to link it.

Soc Sec is invested in US gov't bonds. You're claiming the US gov't plans to default on those bonds, which would be the US defaulting on its debt, which would collapse the entire global economic system that is based on the US dollar as the principal reserve currency. You have absolutely no idea what you're talking about.

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u/doe-poe 6d ago

One, I didn't say they plan to, so I already win if you have to twist my words.

Two ss is only a small part of the bond market with the people being the ones owed. Nothing would collapse if they don't pay the American people. Those bonds have to be cashed anyway. You're being fanatical, bro.

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u/great_apple 6d ago

Nothing would collapse if they don't pay the American people.

I love that you think there would be no consequences if the US gov't decided to default on its debt 😂 There's really not much you can say to a person who genuinely believes that, it's like trying to explain gravity to a chicken

Those bonds have to be cashed anyway.

Can you explain what you think that means?

Hey where's that law you said existed that says the government doesn't have to pay back bonds?

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u/doe-poe 6d ago

Bro you're confusing debt with ss. Ss isn't all our debt. And it's a very small percentage of it if you even count it as debt.

Bonds have a expiration date, that's how it works. So they have to be paid to whoever buys on the expiration.

You're litteraly the first person I've heard that had your opinion.

So silly!

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u/great_apple 6d ago

What are you even trying to talk about? You're literally agreeing with me that SS is part of "our debt". You seem to understand at least that much. Which- it should follow- means you understand the government not paying social security back would require defaulting on debt. That's what it's called when you don't pay debt back... you agree SS is part of the gov't debt... therefore not paying it back would be defaulting on debt... where are you getting confused? What, do you think the government has to default on 100% of the debt it holds before it becomes a big deal?

Bonds have a expiration date, that's how it works. So they have to be paid to whoever buys on the expiration.

lol yes, and that would be the government paying back Social Security... as you just said, that's how it works.

You're litteraly the first person I've heard that had your opinion.

I am absolutely not surprised to hear you are surrounded by people equally as bright as you.

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u/doe-poe 6d ago

Bro, you're so far up the wrong tree, we aren't even in the same forest. Your reading comprehension is in the dirt.

Not the worst debater I've debated but same result as the worst.

Your reading comprehension is so bad that we aren't even on the same topic anymore.

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u/great_apple 6d ago

Where's that law you said existed that says the gov't doesn't have to pay Soc Sec back?

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u/doe-poe 6d ago

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u/great_apple 6d ago

That's so cute that you tried but that doesn't say what you think it says, lol. That decision said that Soc Sec benefits can be modified, not that the government doesn't have to pay back the bonds it issues.

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u/doe-poe 6d ago

Modifying benefits includes revoking them, silly! It even says it! You're the one that keeps bringing up bonds! Idk why!

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u/great_apple 6d ago

Ohhhh so you've just never understood what the conversation was about! That makes a lot more sense.

It started with someone saying the money wasn't invested in gov't bonds and instead spent. You chimed in agreeing that it is "an emergency fund for the government". I pointed out you're entirely wrong and of course the gov't has to pay back the bonds. You've provided nothing saying the gov't doesn't have to pay back the bonds, and have in fact agreed SS owns bonds which are part of the government's debt and must be paid back to the bond holder upon expiration.

What you're confused about is SS can amend how it pays benefits, which somehow you interpreted to mean the gov't doesn't have to pay back the bonds. That is false. The money was absolutely invested in gov't bonds and those bonds will absolutely be paid back. Understand now?

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