[ QUOTE ]
1. The trust fund really is an asset. Just as when you purchase a good, your networth hasn't changed. You now own the good.
response: This is patently disingenuous. The trust fund is more like an accounting of how much you spent on hookers and blow. I'd really like to have one of these apologists point me to the "assets" that the trust fund purchased and how the govt will liquidate it in order to pay my checks down the road.
[/ QUOTE ]
Actually part of the interest paid by the Treasury department on the national debt goes to the trust fund.
From page 99 of the following linky:
Historical Budget Data
900 Net interest:
For 2007 (in millions)
Interest on Treasury debt securities (gross) 405,866
Interest received by on-budget trust funds –71,574
Interest received by off-budget trust funds –97,722
Other interest –7,306
Other investment income –2,661
Total, Net interest 226,603
(On-budget) (324,325)
(Off-budget) (–97,722)
So it appears that there is an accounting transaction entered for the federal government re-imbursing the trust fund.