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Official Lies

Grant75 Wrote: Jan 30, 2013 2:06 PM
“The Social Security trust funds contain nothing more than IOUs, bonds that have absolutely no market value. In other words, they are worthless bookkeeping entries.” . . . . . didn’t some executives at Enron get jail time for the same type of book cooking caper?
traitorbill Wrote: Jan 30, 2013 5:51 PM
There was a time when a government IOU meant something. Way back when it exercised some fiscal responsibility. I guess they'll have to just keep the printing press going a little longer. And, when inflation hits, those evil millionaires and billionaires had just better watch out for the righteous wrath of the people.

Let's expose presidential prevarication. Earlier this year, President Barack Obama warned that Social Security checks will be delayed if Congress fails to increase the government's borrowing authority by raising the debt ceiling. However, there's an issue with this warning. According to the 2012 Social Security trustees report, assets in Social Security's trust funds totaled $2.7 trillion, and Social Security expenditures totaled $773 billion. Therefore, regardless of what Congress does about the debt limit, Social Security recipients are guaranteed their checks. Just take the money from the $2.7 trillion assets held in trust.

Which is the lie, Social Security checks must be...