Re: June 24 PolitiFact Texas article “Social Security trust fund keeps benefits flowing.”
The “False” comment about Social Security being out of money is misleading.
It is “True” that the current income stream is no longer large enough to meet the current payment stream, the basic premise for the system. The question becomes: Where will the money come from to make up the difference as it is needed?
A storage box somewhere has paper saying, “The Social Security fund is owed $2.4 trillion by the U.S. government.” Converting that paper to cash for distribution means redeeming the bonds by printing more money or selling replacement bonds outside the U.S. Treasury. The former promotes inflation, devaluing the dollar, while the latter increases the national debt owed to other countries.
Technically and on paper, the Social Security isn’t “out of money.” It’s the whole nation that is. This is the current path we are on. It is destroying our economy.
Fred Ort Round Rock