Elon wouldn’t even take interviews on credible news outlets. They would never agree to anything that would expose themselves to their own constituents. Fox News, truth social, maga podcasts, and x is where they live becuase they can control the content
The IOU's need to be repaid! That all began under REAGAN, by the way. 😡 Congress always finds enough money to fund the military industrial complex. Therefore, they can find enough money to shore up SS. All they need to do is raise the cap on SS and SSI! Shortfall solved!
Asset reserves, except for relatively small cash amounts, are invested in Federal Government securities. So what is paid into social security is used to by US treasuries. The money earned from selling those treasuries to the SS Trust Fund goes into the general budget and is spent.
Then the interest and the bond repayment on those treasuries in the social security trust fund are paid by, you guessed it, the US Taxpayer...
Exactly! That trust fund money needed to be put into a lock box years ago ... ALL of the money! However, who would've thought that the older baby boomers would send the younger ones and their kids down the river without an oar?
Seems to me that is exactly what happened. The "I got mine, too bad for you, you aren't working hard enough, so reinvent yourself" mentality. As a union girl, I cannot count all the times we were told by management that our wages were "what the market would bear" and that we were "unskilled labor" and we would not get hired anywhere else. Talk about gaslighting! Many of my union colleagues did have college degrees! A slap in the face and denigrating at the same time.
When did our govt become day traders? 😁 That’s what this sounds like. And are they any good at it? Or do they use a broker? Who exactly posts that cash on a daily basis? I don’t mean to drill you. Sorry! My questions are rhetorical. Unless you know the answers!✌🏼🤭
US Treasuries are the highest rated bond instruments/securities on planet Earth (for now) backed by the "full faith and credit of the US government".
The twisted logic used by the those who did this to pull this scam off is that because Treasuries are considered by banks (and central banks) to be cash equivalent - or even better than cash because they are interest bearing - having them replace the actual dollars in the SS trust fund is a benefit rather than a liability.
This is complete snake-eating-its-tail nonsense and an utter fraud because as mentioned, the taxpayer is the one paying both the interest and coupon on those Treasuries, and then their future financial "Security" - in the form of those dollars - has flown the coup (been stolen) and siphoned off into other government pork barrels for their corporate donors (bribers).
The social security is accounted forin the general fund but is kept in a separate trust that is never borrowed from. This is explained on the social security website.
Thank you for doing that Aaron. That was an excellent interview with a superb person who has great experience and knowledge. This is a vital program every single one of us will want to have be a healthy, long lasting program in the last part our lives!
They don’t need to tell the truth. All they have to do is say any lie and then the propaganda machine spews it out and the red hats jump on it and that’s what they spread. No matter it’s proven to be lies. After it’s out, it won’t go away
i got survivors benefits since i was 9. shush about kids getting social security benefits lmao i can’t believe they do these things without knowing the full context lol
Exactly, Hannah. Republicans are such hypocrites when it comes to protecting Social Security. For example, Paul Ryan, former Tea Party Speaker of the House and opponent of Social Security, himself received SS survivors benefits from age 16 to 18 after his father's death, and saved that money for his college education.
2024 Social Security had a $200 billion SURPLUS, $1,7 trillion in payroll taxes received and $1.5 trillion in outlays. Bigger yet the trust fund has a $3 trillion dollar surplus. Take the cap off Social Security and it is solvent forever and can expand benefits.
I am so glad to hear Gov Martin O’Malley in the venue. I write my two Pennsylvania Senators every week. They assure me that they will protect Social Security. This is not over!
Martin O’Malley is a pretty descent guy and was a pretty good governor and mayor. I’d love to see him debate Pamperpants and anybody else in his mafia.
That’s what’s most important to us who depend on it to survive. Don’t make things worse in process but stand your ground & price not ponzu scheme. It’s our money we paid into. Period. The govt has no business touching it. They follow rules & should get death certificates when someone on SS passes. However if they have no family left it could be reason why their names are still listed. But must likely not getting paid on purpose. Where do checks go if not to person they’re for? Family members who take it on their behalf ? Whether living or dead -/ with or without legal documents to account for it? Be thoroughly prepared!
oh, I agree! I shouldn't be paying into social security for my entire working career, only to have it metered out to me like a child asking for their allowance. It's forced in us to pay, weather we like it or not. It BETTER be there when I retire, because it's my money. The govt has a history of dipping into social security with their ladle to make ends meet on bills and funding needed, which is so wrong on many many levels. That's literally My money, not just excess taxes I paid into, my literal money that is withdrawn out of my check bi weekly.
Yup. And they only give you back a small portion 1/3 or 2/3? Ad the formula they use is ridiculous! Only dumb people make things more complicated than they need to be. I mean, I had to ask them 15 times to explain it to me. Different workers over the years and half couldn’t do it. I’ve done my math upside down and sideways. Paid super close attention for last 10 years and when they told me what I was going to get I about fell over! I said No no no…you need to re-do your math. You need to look at this and that and where are those college campus jobs I had for a year each? In am the admissions office? It looks like I wasn’t working those two years? It’s crazy dumb! Highest 3 quarters of 30 years and then something else xs that? People who pay in less than 35 years don’t get anything back according to what they’ve been telling me! So 25 years of their money goes to who? That’s some bullshit!
My sisters and I actually informed SS when our dad passed. My niece called and informed SS when my sister passed. So, Family can and do tell them. If it was all up to the funeral directors there wouldn't be unscrupulous people still receiving mom or dad's SS check.
SS is literally “The Third Rail.” But right now, Medicaid has got to be saved. Trump and Musk are POS that just want to steal for the poor to give to the rich. F**k that s**t.
Musk won't challenge bc He has no idea what social security is and doesn't care. He only wants ppl to listen to him on podcasts or any right wing media bc they don't challenge his commentary no fact checks. And for him to do an interview he vets the questions before hand. Not smart just rich
I just applied for SS. When calling the SSA, I was on hold 2 -3 hours. I tried this 3 times and got too frustrated because I was still not able to speak to anybody. You have to go directly into the local SS office to get anything done. Very inconvenient.
Thank you for taking up this topic. I am a permanently disabled husband and father. I am 38 and went from a great career, to living off my social security disability benefits in a flash. (Long Covid- 1st wave 5years) I am terrified of what could happen to my family. I went from working to provide safety and security, to relying on politicians who don’t care about my family like I do. Great reporting as always Aaron.
Elon wouldn’t even take interviews on credible news outlets. They would never agree to anything that would expose themselves to their own constituents. Fox News, truth social, maga podcasts, and x is where they live becuase they can control the content
You said it!
I would debate him in a box, I would debate him even on Fox. I miss Dr Seuss.
I thought of Dr. Seuss when I heard him too. lol
So great to hear sanity. Thank you!
“Cause when they own the information ohhh they can bend it all they want” - John Mayer
elon will lose the debate
That foreigner musk-y will lose mightily!!!!!
Keeping the string alive.
I know Joe "Rogaine" might not have been intentional by I snort laughed at my desk when it was said 🤣
I almost spit out my food when I heard that. 😂 and testicular fortitude.
Great minds
I nearly sent my drink up my nose when he said that. 🤣
Same!
Social Security is filled with treasuries, ie IOUs ie debt. It was raided long ago by politicians and bureaucrats.
As for Elon, he once said: Constantly seek criticism. A well thought out critique of what you're doing is as valuable as gold.
So he should gladly accept the debate and enjoy geting raked over the coals. It'll be gold alright. Gold to watch.
The IOU's need to be repaid! That all began under REAGAN, by the way. 😡 Congress always finds enough money to fund the military industrial complex. Therefore, they can find enough money to shore up SS. All they need to do is raise the cap on SS and SSI! Shortfall solved!
Alas, it’ll be repaid by the taxpayer who already paid for their social security in the first place.
The repayment will come either through higher taxes or inflation or both.
I believe he just said they have a 3 Trillion surplus.. did you not listen?
Asset reserves, except for relatively small cash amounts, are invested in Federal Government securities. So what is paid into social security is used to by US treasuries. The money earned from selling those treasuries to the SS Trust Fund goes into the general budget and is spent.
Then the interest and the bond repayment on those treasuries in the social security trust fund are paid by, you guessed it, the US Taxpayer...
Exactly! That trust fund money needed to be put into a lock box years ago ... ALL of the money! However, who would've thought that the older baby boomers would send the younger ones and their kids down the river without an oar?
The cycle of human nature:
Hard times create strong men
Strong men create good times
Good times create weak men
Weak men create hard times.
As I recall, Al Gore ran for President talking about a SS lock box, but having a beer with W was more important. As well as wars of choice.
I still say that GWB was selected, not elected.
Seems to me that is exactly what happened. The "I got mine, too bad for you, you aren't working hard enough, so reinvent yourself" mentality. As a union girl, I cannot count all the times we were told by management that our wages were "what the market would bear" and that we were "unskilled labor" and we would not get hired anywhere else. Talk about gaslighting! Many of my union colleagues did have college degrees! A slap in the face and denigrating at the same time.
MD resident and Boomer here 🦀 O’Malley is fighting for our SS! 💪
When did our govt become day traders? 😁 That’s what this sounds like. And are they any good at it? Or do they use a broker? Who exactly posts that cash on a daily basis? I don’t mean to drill you. Sorry! My questions are rhetorical. Unless you know the answers!✌🏼🤭
US Treasuries are the highest rated bond instruments/securities on planet Earth (for now) backed by the "full faith and credit of the US government".
The twisted logic used by the those who did this to pull this scam off is that because Treasuries are considered by banks (and central banks) to be cash equivalent - or even better than cash because they are interest bearing - having them replace the actual dollars in the SS trust fund is a benefit rather than a liability.
This is complete snake-eating-its-tail nonsense and an utter fraud because as mentioned, the taxpayer is the one paying both the interest and coupon on those Treasuries, and then their future financial "Security" - in the form of those dollars - has flown the coup (been stolen) and siphoned off into other government pork barrels for their corporate donors (bribers).
He is so much like Trump when it comes to criticism. He whines, has a hissy fit and retaliates.
The social security is accounted forin the general fund but is kept in a separate trust that is never borrowed from. This is explained on the social security website.
Congress borrowed from the surplus, and it has never been repaid.
😂 and if you believe that I’ve got a bridge to sell you. 🌁🌉
And you believe everything you read? 😂🤣😂🤣😂
This is the best and most truthful interview regarding Social Security I’ve heard in many years.
Thank you for doing that Aaron. That was an excellent interview with a superb person who has great experience and knowledge. This is a vital program every single one of us will want to have be a healthy, long lasting program in the last part our lives!
They don’t need to tell the truth. All they have to do is say any lie and then the propaganda machine spews it out and the red hats jump on it and that’s what they spread. No matter it’s proven to be lies. After it’s out, it won’t go away
i got survivors benefits since i was 9. shush about kids getting social security benefits lmao i can’t believe they do these things without knowing the full context lol
Exactly, Hannah. Republicans are such hypocrites when it comes to protecting Social Security. For example, Paul Ryan, former Tea Party Speaker of the House and opponent of Social Security, himself received SS survivors benefits from age 16 to 18 after his father's death, and saved that money for his college education.
2024 Social Security had a $200 billion SURPLUS, $1,7 trillion in payroll taxes received and $1.5 trillion in outlays. Bigger yet the trust fund has a $3 trillion dollar surplus. Take the cap off Social Security and it is solvent forever and can expand benefits.
I am so glad to hear Gov Martin O’Malley in the venue. I write my two Pennsylvania Senators every week. They assure me that they will protect Social Security. This is not over!
Martin O’Malley is a pretty descent guy and was a pretty good governor and mayor. I’d love to see him debate Pamperpants and anybody else in his mafia.
make sure Congress doesn't dip into social security like it's a never ending punch bowl
That’s what’s most important to us who depend on it to survive. Don’t make things worse in process but stand your ground & price not ponzu scheme. It’s our money we paid into. Period. The govt has no business touching it. They follow rules & should get death certificates when someone on SS passes. However if they have no family left it could be reason why their names are still listed. But must likely not getting paid on purpose. Where do checks go if not to person they’re for? Family members who take it on their behalf ? Whether living or dead -/ with or without legal documents to account for it? Be thoroughly prepared!
Thanks
oh, I agree! I shouldn't be paying into social security for my entire working career, only to have it metered out to me like a child asking for their allowance. It's forced in us to pay, weather we like it or not. It BETTER be there when I retire, because it's my money. The govt has a history of dipping into social security with their ladle to make ends meet on bills and funding needed, which is so wrong on many many levels. That's literally My money, not just excess taxes I paid into, my literal money that is withdrawn out of my check bi weekly.
That's correct. Not an entitlement, but a benefit you paid into and EARNED!
Yup. And they only give you back a small portion 1/3 or 2/3? Ad the formula they use is ridiculous! Only dumb people make things more complicated than they need to be. I mean, I had to ask them 15 times to explain it to me. Different workers over the years and half couldn’t do it. I’ve done my math upside down and sideways. Paid super close attention for last 10 years and when they told me what I was going to get I about fell over! I said No no no…you need to re-do your math. You need to look at this and that and where are those college campus jobs I had for a year each? In am the admissions office? It looks like I wasn’t working those two years? It’s crazy dumb! Highest 3 quarters of 30 years and then something else xs that? People who pay in less than 35 years don’t get anything back according to what they’ve been telling me! So 25 years of their money goes to who? That’s some bullshit!
Family doesn't tell them.. corner and funeral directors do..
My sisters and I actually informed SS when our dad passed. My niece called and informed SS when my sister passed. So, Family can and do tell them. If it was all up to the funeral directors there wouldn't be unscrupulous people still receiving mom or dad's SS check.
Oh…ok. I wasn’t aware. Thank you.
Thank you Aaron. Great interview.
SS is literally “The Third Rail.” But right now, Medicaid has got to be saved. Trump and Musk are POS that just want to steal for the poor to give to the rich. F**k that s**t.
Musk won't challenge bc He has no idea what social security is and doesn't care. He only wants ppl to listen to him on podcasts or any right wing media bc they don't challenge his commentary no fact checks. And for him to do an interview he vets the questions before hand. Not smart just rich
I just applied for SS. When calling the SSA, I was on hold 2 -3 hours. I tried this 3 times and got too frustrated because I was still not able to speak to anybody. You have to go directly into the local SS office to get anything done. Very inconvenient.
Thank you for taking up this topic. I am a permanently disabled husband and father. I am 38 and went from a great career, to living off my social security disability benefits in a flash. (Long Covid- 1st wave 5years) I am terrified of what could happen to my family. I went from working to provide safety and security, to relying on politicians who don’t care about my family like I do. Great reporting as always Aaron.