"We fund federal debt with two kinds of instruments, public debt and agency debt. The first is money we borrow to "finance the federal deficit." Then there is agency debt, money mostly from trust funds that accumulate surpluses. "By law, trust fund surpluses must generally be invested in federal securities."
So where does that money go? What are these federal securities?
This is my generation's conundrum. We know that the trust funds are accounting gimmicks. The budget itself puts it this way: "... it does not provide the account with resources other than a legal claim on the U.S. Treasury, which itself obtains real resources by taxation and borrowing; and its current interest does not have to be financed by taxes or other means."
The country is blowing the money now -- promising that future taxpayers will cough up the dough. Yet, at the same time, our generation wants to have faith in the trust funds. We need to believe there is a financial path being prepared for our retirement and health needs as we age (this sounds so much better than the nasty collection notice we are giving to our kids)."
Get the Story:
Mark Trahant: Trust funds not worthy of the name
(The Seattle Post-Intelligencer 2/12)
More Mark Trahant:
Mark Trahant: Sooner or later, America will go
broke (2/6)
Mark Trahant: Bush will
tell us everything is great (1/30)
Mark
Trahant: Abramoff turning into blame the Indians (1/23)
Mark Trahant: Cultural changes come, some slowly
(1/9)
Mark Trahant: Starting new year
off with correction (1/4)
Mark Trahant:
How about a coin for Vine Deloria? (12/19)
Mark Trahant: The really great state of the economy
(12/12)
Mark Trahant: America's numbers
don't add up (12/5)
Mark Trahant: Few
writers as powerful as Deloria (11/21)
Mark Trahant: Media sometimes isn't fair
(11/14)
Mark Trahant: No one wants to talk
about immigration (11/7)
Mark Trahant:
The ultimate power of the Fed (10/31)
Mark Trahant: Is there no trust in the government?
(10/24)
Mark Trahant: The next pick for
Federal Reserve job (10/10)
Mark
Trahant: I was wrong about voting by mail (9/26)
Mark Trahant: Rebuilding New Orleans, a unique city
(9/19)
Mark Trahant: Katrina testing
limits of charity (9/12)
Mark Trahant:
Democracy an unfinished experiment (08/29)
Mark Trahant: You write the news, you pick it
(8/15)
Mark Trahant: Tribal stories
don't matter to science (8/8)
Mark
Trahant: Congress focuses on real issues (8/1)
Mark Trahant: Judicial debate conceals big issue
(7/25)
Mark Trahant: Wasting time at
work can be productive (7/18)
Mark
Trahant: Appoint Indian to U.S. Supreme Court (7/11)
Mark Trahant: Readers offer junk mail solutions
(06/20)
Mark Trahant: Junk mail invades
home, office (6/13)
Mark Trahant: Social
Security needs new compact (6/6)
Mark
Trahant: Readers upset over military cartoon (5/30)
Mark Trahant: Healing the world with totem poles
(5/23)
Mark Trahant: We're all as young
as we feel (5/16)
Mark Trahant: Social
Security debate masks failures (5/9)
Mark Trahant: Public sees bias in the news media
(5/2)
Mark Trahant: Few salmon left for
tribal ceremonies (4/25)
Mark Trahant:
Tax system unfair and complicated (4/18)
Mark Trahant: Our nation must pay its own tax bill
(4/11)
Mark Trahant: Latest numbers on
economy scare me (4/4)
Mark Trahant:
C-SPAN just as important today (3/28)
Mark Trahant: Does democracy mean supporting Bush?
(3/21)
Mark Trahant: Academic freedom
for Churchill too? (03/07)
Mark Trahant:
Journalism more interactive than before (2/28)
Mark Trahant: Social Security debate all about 'me'
(2/21)
Mark Trahant: Social Security
push ignores big issue (2/14)
Mark
Trahant: Human beings only react during crisis (2/7)
Mark Trahant: Election tales usually one-sided
(1/31)
Trahant: Public school system not
good enough (01/24)
Mark Trahant: Three
cheers for the First Amendment (01/10)
Mark Trahant: Did my vote count? Did yours?
(12/20)
Mark Trahant: Bush plan leaves no
room for salmon (12/13)
Mark Trahant:
Two friendly faces on the news (11/29)
Mark Trahant: Mainstream media doesn't matter
(11/22)
Mark Trahant: Do political
endorsements matter? (11/8)
Mark
Trahant: So what happens after the election? (11/1)
Mark Trahant: Vote early and avoid campaign sleaze
(10/25)
Mark Trahant: Congress should
abide by laws too (10/18)
Mark Trahant:
Election changing as we speak (10/11)
Mark Trahant: NMAI must change the story
(09/27)
Mark Trahant: Media's view of
elections should change (09/20)
Mark
Trahant: What happened to Pakistan? bin Laden? (09/13)
Mark Trahant: Payroll tax not fair to all Americans
(8/23)
Mark Trahant: Bush's answer was
slightly better (8/9)
Audio: Bush
explains meaning of tribal sovereignty (8/6)
Mark Trahant: The one that didn't get away
(08/02)
Mark Trahant: Living in a world of
easy credit (7/26)
Mark Trahant:
Congress still stealing Indian land (07/12)
Mark Trahant: Raising the next peace generation
(7/6)
Mark Trahant: How far does
'terrorist' definition go? (6/28)
Mark
Trahant: The big five-oh a good time to reflect (6/21)
Mark Trahant: Ordinary Reagan was extraordinary
(06/14)
Mark Trahant: Indian girls team had
game back in 1900s (06/07)
Mark Trahant:
Voice mail filled with views on Iraqi war (05/17)
Mark Trahant: A familiar story of cultural
change (03/22)
Mark Trahant: One
Indian in Senate is wrong number (03/08)
Mark Trahant: Division marked another major war
too (2/23)
Mark Trahant: We're still
fighting the Cold War (01/26)
Trahant: Selling democracy to Indian
Country (11/17)
Trahant: Can't trust
Uncle Sam with Indian money (11/10)
Mark Trahant: Bush needs to note success and
failure (10/20)
Mark Trahant:
Technology and the news world (09/29)
Mark Trahant: Preparing for the unthinkable
(09/22)
Trahant: When tribes succeed,
someone changes rules (09/1)
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