Social Security does not add to the national debt. It is even prohibited by law from borrowing money.
Politicians who talk about cutting or changing Social Security to address the debt are lying to you.
Here is how Social Security funding works:
Social Security is funded by payroll taxes. When more money comes in from payroll taxes than benefits that need to be paid out, Social Security is obligated to invest the surplus in Treasuries.
Treasuries are bonds. Governments and corporations issue bonds to generate money. A bond is a loan from the purchaser to the issuer.
A bond has a principal, a maturity date, and an interest rate. The principal is the value of the bond. When you buy a bond, you pay the principal. When the bond reaches its maturity date, the issuer is required to pay the principal back to the holder. The interest rate is the amount the issuer pays to the bondholder.
It is similar to how, when you take out a 30-year mortgage, you agree to a repayment schedule and to pay interest until the loan is repaid.
As Treasuries mature, if Social Security doesn't need that extra money, it rolls them over by buying new Treasuries.
When Social Security needs more money to cover benefits, it cashes out Treasuries.
The federal government has had a deficit for the past 25 years. This means that when it has to meet its obligations, it needs to borrow money.
This is how people claim that Social Security adds to the debt. That is ridiculous.
Companies and countries buy US Treasuries. You and I can buy them. Anyone holding a Treasury when it matures isn't increasing the debt. The government’s unbalanced budget is causing the debt.
Cutting Social Security will do nothing to get the US out of debt, but it would create hardship for millions of Americans.
Social Security currently has a shortfall, primarily because people are living longer and the large Boomer generation is retiring. In 1960, there were 5.1 people paying into Social Security. Today, there are only 2.7. The trust fund from past surpluses is keeping it afloat, but it is running out.
The easiest way to address the shortfall is to remove the tax cap on Social Security. Benefits do not have to be increased to do this. This is exactly what was done for Medicare in 1993. The tax cap was removed, and benefits weren't increased to better fund the program.
@JakeOrlando15@_sn_n Yes, Milwaukee County absentee/mail-in batch came in all at once at +119,482 Biden (143,124 to 23,642). Sorry your guy doesn't do well there.
@boo32985@NBAMemes Maybe that was because the game was in Oakland and I doubt Warriors fans were in Cleveland. Better comparison, did you guys do this to Cubs fans later that year? They certainly can be obnoxious, but I'm guessing the answer is no.
Gonna explain it so that even completely brain dead #MAGA cult members can understand it:
I live in Los Angeles. I am a moderate who can’t stand the ultra left and ultra right. Bass isn’t great and maybe she will lose to the progressive who will run against her? She would have much rather been running against Pratt in November! She would have had a 95% of winning against Pratt. Maybe a 60% chance now against Raman. Anyone who thinks there is fraud is happening is either incredibly stupid OR purposefully lying—no other choices. Statistically and indisputably, 75% of Los Angeles is either Democrats or independents who lean Democrat because the candidates who are Republican always end up being stupid MAGA clowns since 2016.
Trump got 26% of the vote in Los Angeles in 2024. Pratt will end up with slightly less than that, which makes sense, since he ran his campaign as an obnoxious MAGA asshole in an environment where Trump’s approval ratings are their lowest ever!
Most people in L.A. vote by mail, in a 100.00% legal way, and often wait until the last few days before/on election day to send their ballots in. Those mail-in ballots lean SUPER HEAVILY to Democrats, ironically because the same brainless MAGA cult members attack mail-in-voting and hurt what ever absolutely miniscule chance they have of winning!
So stop the fucking nonsense. Election deniers are among the dumbest organisms—and claiming fraud in this Los Angeles Mayoral election is the dumbest of the dumb.
@The_BookemDano@BTC_clips Just because you don’t believe it doesn’t make it false.
California requires signature verification on every mail-ballot envelope, with a curing process for mismatches. It also uses ballot tracking and post-election audits. Not laughable.
Apparently you don't know what "to name a few" means. Those were examples, not an exhaustive list. Europe actually has at least 13 countries that allow mail-in voting, including Iceland and Luxembourg for all voters.
California also uses signature verification, ballot tracking, and audits. It didn't "outlaw" every safeguard.
I agree that S1 or S2 cancer doesn't automatically stop someone from working. The concern is that treatment and appointments can make it harder to consistently meet an 80-hour requirement, and monthly certification creates a real risk of losing coverage over paperwork issues even when someone qualifies.
@NBA_NewYork Are there other places in NYC that can hold 25k+ people? The Deer District in Milwaukee had that amount and I can't imagine the experience without it. Knicks fans deserve the same!
Still doesn't do anything to refute my point: no sitting president has ever attended an NBA Finals game before.
If the Bulls had made it to the Finals during Obama's presidency, I would have been pissed if he'd come here to Chicago. And if Biden came to Milwaukee, I would have been double pissed, just as the Knicks are enduring their 50+ year drought.
He's distracting from the event.