As you say, it has legal meaning for the trust fund, but it but is on a federal government taken on a consolidated basis, which is the way that we focus on the federal government, then it nets out to zero. So At $15 trillion, we really have nothing really in the federal government to pay those benefits even through 2033. other than that accounting, bookkeeping, transfer from the trust fund to the treasury, who then have to go either float more bonds or raise more taxes. (05:19–05:25)
CLAIM
Asserts that there are no federal funds to cover $15 trillion in benefits through 2033.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
