Eezyville@sh.itjust.works to News@lemmy.worldEnglish · 1 day agoTrump announces plan to stop making new pennies, citing production costswww.usatoday.comexternal-linkmessage-square89fedilinkarrow-up1188arrow-down19file-text
arrow-up1179arrow-down1external-linkTrump announces plan to stop making new pennies, citing production costswww.usatoday.comEezyville@sh.itjust.works to News@lemmy.worldEnglish · 1 day agomessage-square89fedilinkfile-text
minus-squareHexPat@lemm.eelinkfedilinkEnglisharrow-up4·16 hours agoWhat part of the deficit is Social Security? It’s self-funded, no?
minus-squareteawrecks@sopuli.xyzlinkfedilinkarrow-up3·edit-215 hours agoThe boomer generation is getting old. There are more people drawing from SS than paying into it. As a result, social security has been running a deficit since 2010 In 2023 social security made up 1.3T, or ~20% of our deficit. According to a report last year, at this rate the social security fund will deplete in 2035
minus-squareTest_Tickles@lemmy.worldlinkfedilinkarrow-up1·5 hours agoDoes that include all the money "borrowed"from SS, or the interest that is supposed to be paid for the “borrowed” money?
minus-squareteawrecks@sopuli.xyzlinkfedilinkarrow-up1·5 hours agoI do not claim to be an expert on this, just some dude with the internet, so answering that is going to be a team effort. I’m not sure I follow what you mean by “borrowed” here. Do you mean money borrowed by the Treasury, or by people?
What part of the deficit is Social Security? It’s self-funded, no?
The boomer generation is getting old. There are more people drawing from SS than paying into it.
Does that include all the money "borrowed"from SS, or the interest that is supposed to be paid for the “borrowed” money?
I do not claim to be an expert on this, just some dude with the internet, so answering that is going to be a team effort.
I’m not sure I follow what you mean by “borrowed” here. Do you mean money borrowed by the Treasury, or by people?