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warren_stupidity t1_jc2eclr wrote

Reply to comment by BasilExposition75 in [OC] US Social Security Fund History by PM_Ur_Illiac_Furrows

They are 'IOUs' they same way a t-bill is an IOU.

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BasilExposition75 t1_jc3jzs2 wrote

Yes. A T-Bill is an IOU. When it is the government that holds them, it is an "I Owe Myself".

If a company claimed their internals accounting were assets, they would be prosecuted for fraud.

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