I know much of the money contributed to Social Security was 'borrowed' by the US Government and if you ask Congressmen what Social Security got in return they will tell you T Bonds. This sounds good if your highest grade level completed was 3rd.
Think about this. You borrow $10 (social security tax) and you put it into your left pocket. Then you take it out and put it into your right pocket (money added to the US budget). So that everything balances you put an IOU (US T bonds) in your left pocket. Later you spend the $10 to buy a pair of socks (i.e. some government expense like a bridge in the middle of nowhere).
When the person you borrowed the money from asks to be repaid, what is going to happen? How will the money be repaid?
Such creative financing gets corproation executives sent to jail. What happens when Congressmen do it? They get re-elected. What do you think about this?
2006-12-06 06:38:24 · 2 answers · asked by namsaev 6 in Politics & Government ➔ Government
Enough to where me and you arnt going to see any of the money that is taken out of my check every week.
2006-12-06 06:41:07 · answer #1 · answered by Lab Runner 5 · 0⤊ 0⤋
The real problem is going to be when people stop buying T-Bonds.
2006-12-06 06:43:50 · answer #2 · answered by Time to Shrug, Atlas 6 · 0⤊ 0⤋