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Actually, the 75% number is when there is no trust fund whatsoever and all outgoing payments are funded directly by incoming payments. > But when we start rede
by jellicle 10y ago
Actually, the 75% number is when there is no trust fund whatsoever and all outgoing payments are funded directly by incoming payments.
> But when we start redeeming the IOUs
You are aware, I'm sure, that said IOUs have been redeemed every year of SS's existence.
- jeremyt 10y agoUntil they aren't. Bear Stearns paid its bills every year until it suddently didn't.