Re: OT Govt borrowing from social security funds

Posted by Texasmark1 on December 26, 2011 at 05:47:56 from (67.142.164.25):

In Reply to: OT Govt borrowing from social security funds posted by Dave from MN on December 26, 2011 at 05:21:16:

I can't answer your question, but I attended a company retirement briefing once and that subject came up.

It was put to us like this: SS has this hugh pile of money just sitting around. There is so much of it that it can't find enough people to borrow it and pay interest on it.

The FED on the other hand is broke all the time and needs money. It can print it's own money if necessary to pay it back, but regardless it is a place for SS to make some money......makes sense to me.

Course when the FED and the govt get together and drive interest rates down to .25% so that their borrowing costs are minimal, everyone looses as is the case now.

I remember during Slick Willie's tenture, I saw news reports where I think the M3 paid out 30 billion in debt reduction. Saw that several times over as many months so it wasn't on his watch.

Mark

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