Archives for March 2017

March 2017 - Money Morning - Only the News You Can Profit From

Proof the Social Security Trust Fund Is Just a Stack of IOUS in a West Virginia Filing Cabinet

The true nature of the so-called Social Security Trust Fund would shock most Americans.

All 2.85 trillion of it was spent years ago. The money was replaced with "special obligation bonds" – a fancy word for debt – which are stored in a lonely filing cabinet in Parkersburg, W. Va.

While the Social Security Trust Fund was building, the fact that it's nothing but debt wasn't an issue.

But in 2020, that's going to change...

The Social Security Trust Fund Is Just a Stack of IOUs in a West Virginia Filing Cabinet

The true nature of the so-called Social Security Trust Fund would shock most Americans.

All 2.85 trillion of it was spent years ago. The money was replaced with "special obligation bonds" – a fancy word for debt – which are stored in a lonely filing cabinet in Parkersburg, W. Va.

While the Social Security Trust Fund was building, the fact that it's nothing but debt wasn't an issue.

But in 2020, that's going to change...