Here Elon Musk describes the interest on the debt being more than the $800 billion we spend on defense. https://x.com/Geiger_Capital/status/1889435604812779561
Frankly we do not owe the Federal Reserve Bank and system and the private banks that own the district banks. What we do owe is minimum $5 trillion to the Social Security Fund. It was 'borrowed' I say stolen to prop up the 80s defense and other spending. Another $800 billion for the second Iraq war alone was stolen from Social Security. All based on lies of course.
We have to erase any debt and interest to the Fed and repay Social Security. It is our money after all.
Right on! Social Security would be sustainable if they repaid what was stolen with interest. And STOP giving SS benefits to non citizens.
Yep we could sustain it for decades to come with higher monthly payments so grandma doesn't have to suffer financially. That was the intent for those who could live long enough to receive it.
Can we reform the FICA tax and how incomes are taxed? Sure, I'll entertain that after they pay it back with interest as you pointed out.
If the fund is paid back, you are right, the system should be recalculated based on today's numbers - as it was when it was enacted. My parents paid in for over 50 years and didnt collect long, both died in their early 70's. I paid in for 44 years and hope I last a little longer than they did and I hope it gets a revamp for my kids generation or what they have paid in (with interest) be put into a more sustainable system. It seems smart people are in control now so it could happen!
Elon said SS benefits are being paid to 150 year olds and to accounts with no identifying information.
That too! Imagine how many $$$$ was fraudulently issued on top of what they literally stole!
Exactly 100% the fraud to dead people or illegals. We've so been ripped off beyond imagination.
They printed a lot of money off the books I bet.
Hell that's what Elon/Doge is uncovering right this moment. You are right its been going on a long time, at least since 911 and maybe before.
The 150 yo case I don't really understand - when my Mother passed, I called all of her sources of income the week after she passed and told them of her death - Soc Sec already knew because their computers run their recipients against some national death records database and 'matched' her info and had already stopped her Soc Sec payment.
Who ever got funds for being 150 was probably overridden by someone in the SS Administration. Fraud essentially.
So probably someone whose mother died a long time ago was denied as you pointed out due to that database, and they went in and overrode that denial of benefits due to death and figured out a way to have those funds transferred to a bank acct, wire fraud, and just collected the money. I'm guessing as to how this is done of course. Or a fake SS #, or some other way to get those funds.
Someone on the inside is definitely doing it. If caught they should serve time in prison until death.
Or just death, no prison
Agreed, and very interestingly said.
Only after the fraudulent payments from the SS is completely exposed and stopped. But yeah SS money was all stole by mid 90s and what brought about the dot com bust, 2008 gfc and the economy had been rubbing on fumes ever since