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Social Security doesn't come out of the general budget.

by alabastervlog 1y ago

bpodgursky 1y ago
Who cares? It contributes to the deficit, which is what matters for fiscal policy.
- alabastervlog 1y ago
  It does not.
- mikeyouse 1y ago
  Social security is entirely self funded, has a large surplus in the form of the SS Trust Fund (that’s being spent down) and has contributed $0 to the deficit or debt. You should really learn the basic facts about something like that if you’re going to support cuts to the program.
  - bpodgursky 1y ago
    The SS Trust Fund is numbers on a spreadsheet. It doesn't matter. It's gone and spent. The question is about real actual resource distribution. SS is drawing more resources from young people than it is giving back. That's an actual problem, no matter how many tabs you add to your excel spreadsheet.
    - alabastervlog 1y ago
      This post is nonsensical. > The SS Trust Fund is numbers on a spreadsheet. It doesn't matter. "Numbers on a spreadsheet" is meaningless, you just described functionally all of accounting for the entire economy, and if that's a reason it "doesn't matter" then the debt also "doesn't matter" because it's also just numbers on a spreadsheet. What do you think nearly all money is? > It's gone and spent. Simply, factually wrong. If so, then so's your 401k. And all the money in your bank account. > The question is about real actual resource distribution. SS is drawing more resources from young people than it is giving back. That's an actual problem, no matter how many tabs you add to your excel spreadsheet. You're wrong about Social Security (and medicare, for that matter) contributing to the budget deficit, so you're trying to change the topic to "is social security's funding fair?"
      - bpodgursky 1y ago
        I will expand, if you need. The SS trust fund produced a surplus. Boomers then spent the entire surplus on their own deficit spending. There is no actual cash in a bank — it was put on a spreadsheet and then spent on other budget priorities — wars, military, medicaid, everything else. The SS trust fund was one of the main reasons the US could spend profligately for the past couple decades! The SS Trust Fund is NOT A BANK ACCOUNT. I cannot emphasize this enough. The money got spent. Now, boomers are retiring and demanding that money — which they already spent — back again. That's absurd double spending which impacts young taxpayers as inflation or deficit spending.
        alabastervlog 1y ago
        You have fallen for propaganda aimed at getting people to not give a shit when republicans try to end Social Security. The money didn't "get spent", it's invested. If that counts as "got spent" then your savings account also "got spent" (funding loans) and your retirement accounts also "got spent" (buying bonds, treasuries, securities) so you can go ahead and sign those over to me since they're empty anyway—right? If the money had been spent then it would have reduced deficit spending by that much, but it didn't, because that spending was funded by debt (some of which the SS trust fund owns). If that isn't "real" then the entire debt isn't real so who cares if anything contributes to it?
        daedrdev 1y ago
        The money is lent to the federal government via Treasuries. As the surplus is spent, it will directly decrease the funding for the government deficit, increasing the cost for the government to service its debt. The original poster is wrong since the surplus is real, but spending down this surplus will still cost the government a lot. And even if it didn't, Social Security will burn its entire reserve in 10 years and be forced to cut benefits by 20% in 10 years or be forced to spend trillions to maintain its current level deficit.
        alabastervlog 1y ago
    - anigbrowl 1y ago
      Maybe you should have organized your argument at the outset instead of leading with baity statements and then trying to leverage the attention for your 'real' argument. I am sick to death of this sort of manipulative discourse. It's bullshit and wastes everyone else's time.
- skyyler 1y ago
  Where did you learn that it contributes to the deficit?

Social Security doesn't come out of the general budget.

bpodgursky 1y ago

Who cares? It contributes to the deficit, which is what matters for fiscal policy.

alabastervlog 1y ago
It does not.
mikeyouse 1y ago
Social security is entirely self funded, has a large surplus in the form of the SS Trust Fund (that’s being spent down) and has contributed $0 to the deficit or debt. You should really learn the basic facts about something like that if you’re going to support cuts to the program.
- bpodgursky 1y ago
  The SS Trust Fund is numbers on a spreadsheet. It doesn't matter. It's gone and spent. The question is about real actual resource distribution. SS is drawing more resources from young people than it is giving back. That's an actual problem, no matter how many tabs you add to your excel spreadsheet.
  - alabastervlog 1y ago
    This post is nonsensical. > The SS Trust Fund is numbers on a spreadsheet. It doesn't matter. "Numbers on a spreadsheet" is meaningless, you just described functionally all of accounting for the entire economy, and if that's a reason it "doesn't matter" then the debt also "doesn't matter" because it's also just numbers on a spreadsheet. What do you think nearly all money is? > It's gone and spent. Simply, factually wrong. If so, then so's your 401k. And all the money in your bank account. > The question is about real actual resource distribution. SS is drawing more resources from young people than it is giving back. That's an actual problem, no matter how many tabs you add to your excel spreadsheet. You're wrong about Social Security (and medicare, for that matter) contributing to the budget deficit, so you're trying to change the topic to "is social security's funding fair?"
    - bpodgursky 1y ago
      I will expand, if you need. The SS trust fund produced a surplus. Boomers then spent the entire surplus on their own deficit spending. There is no actual cash in a bank — it was put on a spreadsheet and then spent on other budget priorities — wars, military, medicaid, everything else. The SS trust fund was one of the main reasons the US could spend profligately for the past couple decades! The SS Trust Fund is NOT A BANK ACCOUNT. I cannot emphasize this enough. The money got spent. Now, boomers are retiring and demanding that money — which they already spent — back again. That's absurd double spending which impacts young taxpayers as inflation or deficit spending.
      - alabastervlog 1y ago
        You have fallen for propaganda aimed at getting people to not give a shit when republicans try to end Social Security. The money didn't "get spent", it's invested. If that counts as "got spent" then your savings account also "got spent" (funding loans) and your retirement accounts also "got spent" (buying bonds, treasuries, securities) so you can go ahead and sign those over to me since they're empty anyway—right? If the money had been spent then it would have reduced deficit spending by that much, but it didn't, because that spending was funded by debt (some of which the SS trust fund owns). If that isn't "real" then the entire debt isn't real so who cares if anything contributes to it?
        daedrdev 1y ago
        The money is lent to the federal government via Treasuries. As the surplus is spent, it will directly decrease the funding for the government deficit, increasing the cost for the government to service its debt. The original poster is wrong since the surplus is real, but spending down this surplus will still cost the government a lot. And even if it didn't, Social Security will burn its entire reserve in 10 years and be forced to cut benefits by 20% in 10 years or be forced to spend trillions to maintain its current level deficit.
        alabastervlog 1y ago
  - anigbrowl 1y ago
    Maybe you should have organized your argument at the outset instead of leading with baity statements and then trying to leverage the attention for your 'real' argument. I am sick to death of this sort of manipulative discourse. It's bullshit and wastes everyone else's time.
skyyler 1y ago
Where did you learn that it contributes to the deficit?