Our Uncle Sam Has Been Leading The Corruption Parade 85 Years

U.S. Socialism began in 1935....

Borrowing money, or buying things on credit a thousand times beyond your ability to ever repay it has always been a disgraceful sign of irrational bad judgment or willful dishonesty and was awarded with permanent bad credit, loss of reputation and incarceration in debtor's prison. But our corrupt Uncle Sam has been doing it for 85 years, since 1935 when The Social Security Act passed into law 

Who Owns the US National Debt?

The Biggest Owner Is You! 

This by Kinberly Amadeo

The U.S. debt was $22 trillion as of February 11, 2019. Most headlines focus on how much the United States owes China, one of the largest foreign owners. What many people don’t know is that the Social Security Trust Fund, aka your retirement money, owns most of the national debt. How does that work and what does it mean?

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The Debt Is in Two Categories

The U.S. Treasury manages the U.S. debt through its Bureau of the Public Debt. The debt falls into two broad categories: intragovernmental holdings and debt held by the public. 

Total U.S national debt was $22 trillion as of December 2018. Here is the percentage breakdown of categories:

Those phantom savings are now Federal debt

The Debt Is in Two Categories

The U.S. Treasury manages the U.S. debt through its Bureau of the Public Debt. The debt falls into two broad categories: intragovernmental holdings and debt held by the public. 

Intragovernmental Debt. This is the portion of the federal debt owed to 230 other federal agencies. In December 2018, intragovernmental holdings totaled $5.9 trillion or 27% of the debt. Why would the government owe money to itself? Some agencies, like the Social Security Trust Fund, take in more revenue from taxes than they need. Rather than stick this cash under a giant mattress, these agencies buy U.S. Treasuries with it.

By owning Treasuries, they transfer their excess cash to the general fund, where it is spent. Of course, one day they will redeem their Treasury notes for cash. The federal government will either need to raise taxes or issue more debt to give the agencies the money they will need. 

Which agencies own the most Treasuries? Social Security, by a long shot.

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My Comment on the Social Security "Trust" Fund:

It has lots of "Social" but no Security, no Trust and no Fund.

The bottom line is, our Uncle Sam has borrowed and spent all of your Social Security retirement funds and replaced them with $trillions of IOUs which they hold in the Judas Bag treasury filled with one huge, multicolored, zero bubble. So our alcoholic, drug induced Uncle just prints more new money each month to pay you your due and those thousands of "volunteer incapacitated" Americans who mostly are just too fat, to skinny, too nervous or too unwilling to work, who were added, by politicians, to the Social Security "entitlement" recipients list. They call it "SSI".

Our U.S. national, Federal debt and the newly printed counterfeit money to prop it up is wide open, bottomless, and thin air which leaves a long way to fall.