It's an asset to the those U.S. government bonds are assets to the trust fund. But They're a liability of the Treasury. Yes. And consolidate the federal books, that nets to zero. Right. So The trust fund has no value to the federal government. Dollar value, correct? Yes. 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. (05:04–05:09)
CLAIM
Asserts that the Social Security trust fund has no dollar value to the federal government.
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