Reply #275: If it's not borrowed by someone, it doesn't earn interest, so what would be the point of [View All]

"saving" it anyway?

When you "save", you're loaning your money or property to someone else in return for interest or future profits. That's how it works.

The Trust Fund has ALWAYS worked the same. Surplus funds were borrowed by the gov't in exchange for securities. 1937 law MANDATES it.

If they didn't borrow the $$ it would just sit in a closet losing value.

The only think that changed was the reagan tax hikes which created steadily increasing surpluses, giving the gov't more & more money to borrow. That was unprecedented.

Al Gore & his phoney lockbox talk have done more to confuse people on SS than most conservatives. He's not a friend of the program, sorry to say.

Here are the vote tallies for the 1983 legislation that put the Reagan/Greenspan tax hikes into effect. Only 54 dem reps & 6 dem senators voted against it, v. 163 & 26 dems for it.

Gore, Conyers & Kennedy are some of our caring Dems who just didn't vote.

http://www.socialsecurity.gov/history/tally1983.html