The SCOAMF is threatening to cut off Social Security if he doesn't get his way on the debt.
Yah, well.....
The Social Security Trust Fund lacks the vast powers
attributed to it by libs but their notional assets do count as part of
Treasury debt for purposes of the debt ceiling. Consequently, if the
Trust Fund needs to redeem bonds with Treasury to pay benefits the
Treasury ought to have room under the debt ceiling to finance that by
issuing an equal amount of bonds to the public. Debt held by the Trust
fund will drop, debt held by the public will rise, but total debt for
debt ceiling purposes will remain unchanged.
Or at least,that is Congressional intent and the point of the law....
The MFM, of course, didn't bother to ask any questions.
ReplyDeleteDid I hear this MFPres correctly?
Did this marxist muslim sewage really accuse the GOP as acting irresponsibly RE: raising the debt ceiling?!
Did the black really call the pot kettle?!
This f*cking mentally unstable sociopathic delusional narcissistic megalomaniac truly has syphilis on the brain.
Barry Soetoro recognizes absolutely no reality.
Not that either side of the aisle is any better...they aren't...including the RINO infested GOP.
Ask Daniel Boone if he ever thought this would be America.
Holy shit is it all just broken beyond any repair...
DCSpring.
"mentally unstable sociopathic delusional narcissistic megalomaniac"....
ReplyDeleteThis is you.
If a "Trust Fund" would need to redeem a Treasury security early once the debt-ceiling-avoidance tricks run out of steam, the Treasury would be able to almost issue an equal amount of bonds to the public. The "Trust Funds" get paid the daily interest accrued since the last crediting (in this case, from 12/31/2012) or date of issuance if it is later.
ReplyDeleteOf course, the Treasury could get real lucky and be able to pay that interest out of cash-on-hand, but if they could, they wouldn't be in this situation.