BobKamman
Level 15
Tuesday
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The Social Security "trust fund" is an accounting myth. It's just some special US Treasury notes they keep in one drawer of a file cabinet in West Virginia. According to the myth, they will only be able to pay 97% of what is owed to current beneficiaries in about ten years. Does that mean they will stop paying anything to everyone? No, it means that they will have to figure out a way, either to reduce everyone's benefits by 3%, or to raise taxes so that they can stay at 100%. Neither of those solutions are popular, so the decision has been made to put off making a decision.