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social security and the national debt?
This may seem like a silly question. It's about social security. As far as i know, the government currently has about $2.5 trillion dollars in i.o.u.'s which it owes to the social security system. This amount makes up part of our approximate $12.5T national debt. So if we were to borrow money from another country to pay off this debt, how would this affect our national debt? The way i see it is it doesn't.
ok, but i'm not sure if that really answers my question. is borrowing money to pay off the iou's to ss a bad thing?
@this message, i agree.
@anita, currently, the debt is about $12.6T. where are you getting your number from?
5 Answers
- LeroyLv 41 decade agoFavorite Answer
LBJ with his majority in congress took our social security money to pay for the Vetnam war and gave us I. O. Ues. '' I will pay you for a hamburger tommarow" as Wimpy said.
- 1 decade ago
How can they put back what they have spent before it even reaches any pockets? That is the question. Government let the bankers get away with a lot of our hard earned money and now we have to pay it back so we can get what is due us? They have not put into action the ways and means committee to do the job they are meant to do. They ought to get it in gear and put those suckers behind bars for letting them get away with it. And then to a second time of the same. At one time the debt was $12.5 but now it's more like near $16 + trillion for the next ten years. And all due to our friendly friends on the hill eating and drinking our money away on what they want and need by using our money and never paying it back. We are to work like dogs for scrapes While they live high on the hog.
- JimmieTFanLv 41 decade ago
If we pulled our troops out of Afghanistan and Iraq today, in four years time we could pay back the IOUs almost in-full with that savings alone.
Congress should enact a law right now that prohibits any borrowing from programs.
- ?Lv 44 years ago
McCain and Obama look everywhere in the map. in many circumstances, the two would say they're against a huge national debt. yet the two have those form of enormous plans for brand spanking new provide-aways at the same time as slicing taxes. So anticipate much extra debt. As for social risk-free practices, no person is speaking approximately it, as a results of fact the huge toddler Boomer inhabitants would skewer every physique who makes plans to cut back advantages, or advance the retirement age. They lie, to get your votes.
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- Anonymous1 decade ago
That is what is going on, the banksters are going global and that creates money supply in the US due to the loan demand creating money. Republicans borrowed the most from SS which is why they wanted to change it.