.... the "Intragovernmental Holdings" is the amount that the Social Security and Medicare trust funds are "owed" by the general fund.

The Treasury can redeem those by selling new bonds into the market in a 1:1 ratio and if they do so they now have dollars in an exactly equal amount.

That's $4.6 trillion dollars.

How much is Social Security and Medicare every year? That's easy - we can look at the Trustee report, which says that in 2010 the total expenditures were $1.235 trillion.

Note that these funds also receive tax monies and in 2010 they took in $1.267 trillion.

Wait a second...... they took in more than they spent? Indeed, which means that the only reason the Treasury has a problem in the present tense is that they have been stealing the tax revenues and replacing them with yet more IOUs.

Originally posted by camaro68ss
I would like everyone to know the truth!

With Obama quoting: "I can not guarantee those checks go out on August 3rd if we haven't resolved this issue because there may simply not be the money in the coffers to do it." It got me thinking, Mr. Obama. I thought Social Security was in a lock box in its own fund? Why would Social Security be in the General "coffers" of the Federal Government and be threatened to not be handed out if we hit our debt limit? If it was in its own fund there would not be a problem right?

So i started to do some digging and found out that we, United States Citizens, have been lied to. There is no Social Security "Lock Box" there is no separate account. Social Security is lumped into the whole US Treasury General Fund! Shocking! We been lied to by our Government! who would have thought!

Under the Supreme Court Case Helvering v. Davis case. On November 12, 1936, "(Social Security payments) are not earmarked for any special purpose." They are (Social Security payments) "true taxes, their purpose being simply to raise revenue . . . available for the general support of Government." This was a Supreme Court decision questioning the constituionality of Social Security

www.lewrockwell.com...

So for all of us paying our Social Security tax, Its just that, a tax that goes into the general fund. NO LOCK BOX! If Social Security does not get paid when we hit the debt limit, you will know why. Obama sliped as was cought telling the truth to the american people that Social Security is part of the General fund. We get 200 billion a month from taxes. Social Security cost 50 billion. If Social Security is not paid out it's because its prioritized that way. plan and simple

Can you believe they teach you in school that Social Security is in its own "Lock Box." What a Joke.

Nice to know huh.

Oh there is a lock box but all that's in there is an IOU! SSI was designed as a pyramid scheme by FDR cause
he figured that there would allways be more money coming in then going out and they could just spend the excess revenue from this fund. So this is what our government has been doing for over 75 years and the truth is
our government has spent every penny of it and all thats in that lock box called SSI is a piece of paper saying we owe you 2.6 trillion dollars. If every american acted with their funds like our government representitives we would all be bankrupt but because our government don't think of the US budget as anything but monopoly money we have deficit after deficit. Welcome to tyranny at it's worst people and be prepared to be oppressed to the end of time or our lives which ever comes first!

Have a Great Day ALL!

edit on 14-7-2011 by camaro68ss because: (no reason given)

edit on 14-7-2011 by camaro68ss because: (no reason given)

edit on 14-7-2011 by camaro68ss because: (no reason given)