Does Social Security earn interest? | The Columbus Dispatch

There are 10 comments on the Nov 22, 2009, Columbus Dispatch story titled Does Social Security earn interest? | The Columbus Dispatch. In it, Columbus Dispatch reports that:

Q: How much money does the federal government owe the Social Security trust funds? And how much interest does the federal government pay on the money it has borrowed every year? - Jim Durham Chillicothe, Mo.

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C davis

Albuquerque, NM

#1 Nov 22, 2009
What, What??? I knew the fed govt borrowed money from SS, why does this never hit the front pages, or 60 minutes or CNN, or is that a stupid question
James Casty

Clarence Center, NY

#2 Nov 22, 2009
with all the money owed SS the program could last indefinetly.Stop crying poverty and threating social security.
Some people in our govt.would love to kill the program.they have tried to over many years
Louise Cahill

Tinley Park, IL

#3 Nov 22, 2009
I would like to begin that I am proud to be a citizens of the United States of America. My parents emigrated from Italy in 1907. Worked every day of their lives - my dear mother still had a small vegetable garden the year she had her heart attach and four months later she died, and she deserved her rest. I am proud of my parents having taught me truthfulness and good work ethics. I have been widowed for 18 years. Strived to save and what happens? The financial moguls blind sided the hard working Americans - including me. I am frugal; have had to assist my son, James F. Cahill and his wife, Linda, this past year because the Union bosses decided that the Glaziers Union did not have any work for their men. He needs two more years of employment in that particular Union to meet the benefit years.

What I read today in the "Full story: Columbus Dispatch" confirms my beliefs that the practice of "no money down - you get a deed to a house, etc..," has backfired. And rightly so. It was stupid to give a no-money-down premise to people who barely knew how to live in a house and know how to take care of appliances and all the bathroom fixtures provided. I have seen with my own eyes some immigrants that would rather defecate and urinate outdoors then use what has been provided them.

Anyway - I am bitter that my country has caused this to happen. Oh - I have been kind and caring to my neighbor(s) and continue to do so. One of them has been so successful, he now owns four homes. Gee whiz - and my son is going to lose his.

I do not see any fairness in any of this. I received an Email message entitled, "Moving to Mexico." I wonder if any Americans are thinking of doing that. I doubt it - that country is militarized - I saw that a few years ago, when my driver mistakenly took the wrong turn as we were heading for San Diego Airport - and we found ourselves in Tijuana, Mexico. Fortunately we met up with an English Border Control female, and she got us out of the country. How fortunate for me and my friend, who was also catching a plane back home to Palo Alto,CA.

Oh I love my freedoms. I do not understand why the Unions and the heads of state and all the Senatorial, House of Representatives, Congressmen, and most of all the Supreme Court judges. Oh, I forgot President Barack Obama. I used to write letters to him when he was an Illinois Senator. And I got replies.

Basically I am writing to get an answer where my son can apply for a job, and also his wife get a job without being told a background check will prove them to be not worthy! What a country! It used to be a place where people thought the streets were paved with gold - found the streets were not even opened up, and when they were, they first were mud, then gravel, then bricks, then paving material. Hey! I am from Illinois. With the "base" we have, there will always be jobs for people in the paving business - each winter after we have freezing weather and then comes the winter thaw and/or Spring thaw, pot holes and worse things develop.

Okay - time for me to spend time in my church and pray things will get better.

Hope more people do the same. And besides God hearing our pleas, maybe the people that got elected will begin waking up that out sourcing jobs may have profited the big corporations, but as Eliza Doolittle said,(not exact words)- "We were done in."

I am too old to recoup what I lost these past two years in my savings. I am no longer employed to begin saving again. The priority these days is to stay in good health. Have you ever been depressed because your child is "behind the eight ball" and no one wants to help? Well, that is where I am. My doctor tells me it is time to just take care of me and my health.

What do you advise?
Davewsr

Lodi, CA

#4 Nov 23, 2009
How much money is U.S. Gov. in hock to the social securty fund?
Mike

Schaumburg, IL

#5 Nov 29, 2009
Government has overtaxed us since 1983- thanks Alan Greenspan- then spent the surplus on everything rom paper clips to battleships and charges the taxpayer interest to boot. Nice scam.

By the way this is what the GAO says about ALL of the 200 or so trust funds: "In the federal budget the meaning of the term "trust" differs significantly from its private sector usage." GAO-01-199SP - look it up.

If it differs significantly then is it even a trust fund?

Ohio Lawyer

Columbus, OH

#6 Nov 29, 2009
Mike wrote:
By the way this is what the GAO says about ALL of the 200 or so trust funds: "In the federal budget the meaning of the term "trust" differs significantly from its private sector usage." GAO-01-199SP - look it up.
If it differs significantly then is it even a trust fund?
This concept is misunderstood. If I take part of my money and put it under my bed and call it a SS trust fund, I dont have any more money. What matters is the total amount the government has and will collect vs its total future obligations for not only SS, but Medicare, VA and military pensions, public employee pensions etc. And that is profoundly out of whack -- read David Walker's warnings.

Social Security is not a terribly difficult funding problem to fix -- just raising the payroll tax ceiling on earnings that are taxable would go a long way. Medicare IS a difficult fix because at present rates of health care spending it is not sustainable.
jerry howell

Chambersburg, PA

#7 Feb 16, 2011
How can the government say the fund is broke. They owe a lot of money to it. If they owe it how is it broke?? Lets eliminate the department of energy that was supposed to help with the price of oil. They are obviously not functioning and have balloned to a beuacratic mess. Lyndon Johnson took a lot of money out of the fund that I paid into since I was 16 years old. I am now 69. Do you take money from your childs savings account and not put it back,?? They stole this money,they owe this money. Kick the jerks out of social security that have never paid anything in and get rid of the anchor baby crap. We better start taking care of americans first . What is left over we will support other causes with. Corrupt dictators. useless wars etc. Bring our fine american troops home let them guard the streets ,borders,and possibly the schools. This country cannot run its own business let alone interfere in other countries affairs. Half of the clowns like Pelosi Frank ,Reed have no clue as to what is going on in the real world.You would think that the same problems that have arisen for 200 years would be solved by now.Obviously those making a career out of solving our problems are not learning from their predecessors.Put these so called elected officials on the same health care, social security and everything that the common American must endure . You will see a rapid solution to a lot of problems.If someone doubted my word about my citizenship I would gladly show my ID If you are stopped at the border you better have it. Who would let a rumor prevail for the simple fact of not making a document public. This should be on national display. What makes this regime so special.??We need to take a lesson from Egypt. The young people that are well informed are tired of this program. I think it is time for a new broom to sweep clean. We are not "BROKE" we are mismanaged. Freeze all Aid and usuless government spending like monies sent to Hati. that the people will never see. How many times are we going to bail this corrupt dictatorship out..
Sick and tired of being sick and tired;
Jerry Howell
noclue

United States

#8 Feb 16, 2011
assets $1. 5 billion. LIABILITIS $1.7 BILLION,, THIS IS THE STORY OF HALF THE BUSINESSES IN AMERICA,and half its citizens, all IN A HOLE.. a day late and a dollar short...wheather its a 7% tax on autos, or anything else taxed, ITS ALL ABOUT shuffling jobs, finders fees, a percentage of everything,LIKE MOST. BY THE TIME YOU FIGURE OUT THAT MAKING under $60,000 GROSS AT YOUR JOB,or spending your corporate dollar ITS ALL ABOUT A GOVERNMENT ENTITY WANTING A PIECE OF EVERYTHING and i mean everything."BY THE TIME YOU FIGURE OUT YOUR BROKE ,YOU ARE IN BANKRUPCY.. looking for a spot in the bankrupt line..THE ONLY DIFFERENCE IS THE WASHINGMACHINE PRINTS ITS OWN
Nation of Imbeciles

San Antonio, TX

#9 Mar 2, 2011
NATIONAL DEBT HAPPY FUN FACTS:

FACT: The debt the United States has accumulated since Ronald Reagan took office 30 years ago is almost equal to the ENERGY sapping interest this nation has paid on the same $9.6 trillion dollars.

-----

When Ronald Reagan entered office 30 years ago in January, America was $930 billion dollars in debt. Today, we are roughly $14.2 trillion dollars in debt.

The interesting part is that today's Total Public Debt Outstanding is made up of two components:

*Current Debt Held by the Public +
*Intragovernmental Holdings =
*Total Public Debt Outstanding

As of 1 MARCH 2011, here are the totals:

Current Debt Held by the Public +
$9,562,563,775,550.10 +

Intragovernmental Holdings =
$4,610,393,814,306.52 =

Total Public Debt Outstanding
$14,172,957,589,856.62

http://www.treasurydirect.gov/NP/BPDLogin...

-----

Since 1981, the UNITED STATES has paid out more than $9 trillion dollars in interest on the NATIONAL DEBT to countries, entities, and persons who have loaned the United States money to fund our debt. In today's dollars, that amount of money would represent the equivalent of NO FEDERAL INCOME TAXES for any individual in America, rich or poor, for the next 9 years. In stead, not only will this nation will continue to pay that kind of interest (well over a billion dollars a day or about $13,500 a second) but it will continue to let the principle grow as well as not one dime has been paid down on the principle in over 50 years.

http://www.treasurydirect.gov/govt/reports/ir...

In essence, since 1981, as the United States has accumulated debt it has treated it ONLY as an INTEREST ONLY LOAN and has not PAID ANYTHING toward the PRINCIPLE. It's sort of like a GROWING MORTGAGE that never goes away, so you just keep paying and paying and paying...

America is economically finished.
Nation of Imbeciles

San Antonio, TX

#10 Mar 2, 2011
Total social security taxes STOLEN & DEFALCATED by members of congress and the White House since the Lyndon Johnson era:

$4,610,393,814,306.52

The only way to REPAY this money is to raise your taxes which will never happen since there is no guarantee the government will suddenly become honest.

***For a Social Security Primer from 2001:
FEDERAL TRUST AND OTHER EARMARKED FUNDS
http://www.gao.gov/new.items/d01199sp.pdf

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