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The trust fund does not contain US treasury bonds. US treasury bonds can be transferred and as such they are counted as debt when calculating the total debt of
by anonymoushn 16y ago
The trust fund does not contain US treasury bonds. US treasury bonds can be transferred and as such they are counted as debt when calculating the total debt of the United States. The instruments held in the SS trust fund are non-transferrable and are not counted as debt. As soon as they are counted as debts and have nonzero secondary market value it will be reasonable to say that the trust fund itself has nonzero value.
- OstiaAntica 16y agoThis is mostly right. The trust fund "assets" are worthless, but the common national debt calculation does include the explicit obligation to repay the SS fund (but does not include the program's unfunded liabilities).