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Originally Posted by dellinger63
The fact that our seniors’ future retirement check and healthcare is invested in one egg and not a portfolio of eggs is negligent at the least and criminal at the worst.
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Nonsense. Nothing safer than a definitive return with no risk to capital. The US has never defaulted on a bond. Never. You say we will?
Why can you not understand how the program works? Yes, money comes in: the US Treasury then sells the program a bond, so we, the USA, have income from our bond sales, and can spend it. The programs then have bonds that accumulate interest, are safe (rather than cash sitting in a bank vault), have the capital protected, and have always been reimbursed by the safest government in the world.
You want riskier investments? No thanks!
Trying to make this out to be some big secret theft is absurd.
Investment in US Treasuries has been the law since inception of the programs. There's a reason that money - my retirement and yours, the money we have invested into the programs - is restricted from being invested in the American stock market. Or China manufacturing growth. Or South American mining futures.
They are called "entitlement" programs because we have contributed, as they are not "giveaways" - thus we are entitled to get our money back, and as trustee of the program the US government insures that. As we always have, and always will (if the GOP doesn't blow these programs to smithereens, as Paul Ryan is going to attempt to do again this summer)
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Yea this President is for the people, if ‘people’ means union/public sector workers, the chronically unemployed, illegals living in AZ and elsewhere, Egyptians, Pakistanis, and venture capitalists looking to start up hopeful solar panel companies and electric car manufacturers in Finland. And don’t forget the Fannie and Freddie execs that despite recording record loses, received record bonuses, something about retaining qualified people.
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You forgot the poors.