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The national debt - the amount of money the government owes its creditors - is about $12.5 trillion, or nearly $42,000 for every man, woman and child in the country. About $8 trillion has been borrowed in public debt markets, much of it from foreign creditors. The rest came from various government trust funds, including retirement funds for civil servants and the military. About $2.5 trillion is owed to Social Security.
Good luck to the politician who reneges on that debt, said Barbara Kennelly, a former Democratic congresswoman from Connecticut who is now president of the National Committee to Preserve Social Security and Medicare.
"Those bonds are protected by the full faith and credit of the United States of America," Kennelly said. "They're as solid as what we owe China and Japan."
In 2015, Social Security's total income exceeded total cost by $23 billion. When interest received on trust fund assets is excluded from program income, there was a deficit of non-interest income relative to cost equal to $70 billion. The Trustees project that annual non-interest-income deficits will persist throughout the long-range period (2016-90).
originally posted by: Orionx2
What happens to all that money every legally working person and employer puts into SS every month?