Boating All Out wrote:
In article ,
says...

On Sun, 02 Feb 2014 09:37:52 -0500, Hank wrote:

Good point, there are far more unfunded government pensions than
private sector pensions. The biggest one is Social Security

What happened to the social security *trust fund*


FDR passed the legislation that allowed the government to spend in it
1939 and they have spent every dime of it since then.
The trust fund was just another line item on the debt since then.

The trust fund is paying off.
Thank God and FDR for the trust fund.
http://www.ssa.gov/oact/trsum/

It's the same as US Savings Bonds in that it will be paid.
Good as gold, and backed by the full faith and credit of the United
States of America.
Only Congress can change it.
They're welcome to try.

Where is the money? Where are real assets backing that "trust fund"? The
government spent the money, and it is just an undocumented part of the
national debt. The government will have to tax people again to pay for the
"trust fund" obligations.