Quote:
Originally Posted by MelodyL
I can't answer that particular question but I know what I saw on the internet about the Treasury. It said "The Treasury Department never said that there is no money. The treasury has enough money to cut checks until August 10th
So whatever that means!!!
Melody
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According to the link I posted a few days ago...........
"at present, the trust funds show a balance of some $2.6 trillion -- enough to pay benefits for many years."
"The $2.6 [B]trillion[/B] in the trusts funds is not cash. Rather, as the excess Social Security payroll taxes were received, the money was used to pay government bills like defense, interest payments, agricultural subsidies, etc."
"Even if the debt limit is not increased, government tax revenues are sufficient to cover our Social Security payments, and a lot more."