Because when the trustees take that bond to pay out benefits because benefits exceed revenue, right now the US treasury just has to issue another bond, right? Correct. So again, The trust fund is a fiction and already we are either borrowing or taking out the general fund to make up the difference between benefits and receipts. correct? On an annual basis, yes. So again, what's unfair about the lifting the cap is it violates the basis, you know, the basic foundation of Social Security, which is a, you know, you pay in and you get out what you pay in. (00:51–01:01)
CLAIM
Asserts that the Social Security trust fund is not real and the government is borrowing to cover benefits.
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.
