Something I've always wondered

[Sunset]

An interesting viewpoint, but what else would you have had the SS Trust Fund invest the trillions of surplus (excess of taxes collected over benefits paid) in?

They could do like Canada does:

https://en.wikipedia.org/wiki/CPP_Investment_Board

"CPP Investments is one of the world's largest investors in private equity, having invested over US$28.1 billion between 2010 and 2014 alone.[3] Despite being a Crown corporation, CPPIB is not considered a sovereign wealth fund because it operates at arms-length from the Government of Canada and solely manages CPP contributions paid by workers and employers, not public funds.[4][5][6] As of December 31, 2019, the CPP Investment Board manages over C$420 billion in investment assets for the Canada Pension Plan on behalf of 20 million Canadians.[7][8]"

 

[beowulf]

$420 billion That's chicken feed in the US. The CDN dollar is now worth about .74 of a US dollar. Our deficit spending for just the month of April 2020 was $780 billion. Can't wait to see May's numbers .

 

[pb4uski]

...I am pretty sure that if I spend $1000, then write a $1000 IOU to myself and put it in my jeans pocket that I am not actually even on the deal. It's the self-dealing aspect that I think is phony. ...

Well in that case you are confusing form over substance... so it is a political charade since it is reported under the U.S. Government but if it was off to the side like the a Federal Reserve Bank it would be a-ok? At the end of the day they are both controlled by the government and government officials.

If the SS Trust Fund were as phony as you suggest then there would be no need to fret about a SS haircut in 2034 because any deficit between tax inflows and benefit outflows would just be paid out of the general fund... but the SS Trust Fund is prohibited by law from deficit spending... sort of proves that its not phony to me.