social security fund.ou can take an extract from your personal account with you; you need to carry your passport. riding certificate the same green card in the extract will indicate where and when the person worked. how much did you earn and how much went towards pension payments, this data can be obtained on paper and put in a closet for peace of mind; you can find out where the nearest departments of the federal law are located on the site ussr.gov.by on the main page , the territorial bodies of the fund will be written under the tab entry with the names of the regions , click a map with locations will appear on your own. look for something that is closer to you, it is important that an extract will be issued at any branch of the social security fund of the country , it is not necessary to go to one of your own. there are so many of them for the convenience of citizens, and not to tie people to specific areas. this is for those who want a piece of paper, belarusians who are comfortable in the digital wor

provided so much, these are your demands, just like the government is in debt for the retired social security fundtry and the army . how much is it for a country pensioner and how much is the social security fund? they asked about the steps. i said, "it's easy. from these resources, we can give you these for one year. reza ordered them. they asked me for them. i prepared a letter and signed it as to lead i have sent it to you and i am waiting for your answer that we can give these dear ones and the current situation we have from the place i suggested, from this place we can both military retirees and country retirees and retirees, the demands of social security retirees need to be explained, dear people. and let the great nation of iran know that these studies have been accumulated in this government during the governments and have reached this government . in fact, it is the legacy of the previous governments . you have reached this government . they do while such a thing in the world and france increases the retirement age and increases the retirement age so that the provision of what you get, t

fund. social security, however, there, the money will not fly so quickly. as the employees themselves will go to court for several months, the anti-crisis manager will sell the company's property and distribute debts to creditors. and if all the ways to get it out, they don’t bring the maximum from the debtors and the bankrupt’s property, the amount of which is enough to repay debts and deduct vzn, the managers will report this to belgosstrakh and indicate the missing amount and the insurance company will transfer it to the pension fund. and here the federation of trade unions shows restlessness, for which hundreds of people are grateful to it. specialists in the pb want to create a mechanism that will allow people to be counted in the insurance period. worked at long-term liquidated enterprises. this would be fair, and this is a heavy load from the shoulders of belarusians who, through no fault of their own, have lost part of their insurance experience. the launch of the fund is scheduled for january 24. now legislators are polishing the document on the fo

social security and medicare were off the table. let's be honest. if we do not make changes in those programs in the future, that will result in social security trust fundxhausting in the year 2033. if that happens, there will be reductions from what people thought they were going to get in social security. there will be reductions in medicare payments. if you are being honest with the american public on the spending side, you need to talk to them straight up about entitlements that have been on the books. these go back this for trump and biden and obama. these major entitlement programs have been on the books for a long time. now wes are seeing the consequence of the expenditure -- now we are seeing the consequences of the expenditures. there are areas in which we can be better at spending than we are, but unless you are willing to tell the american public what is the real drivers of spending, let's take the other side of the equation. let's not pass this debt onto our future generation. let's talk about another third rail of politics. maybe we should start paying for the benefits we enjoy today. that is taxes, unfortunately. host: difficult positions

jack otter: if nothing is done the social security fund will have to cut payments by 23% in ten years. ho salonpas lidocaine flex. a super thin, flexible patch with maximum otc strength lidocaine that contours to the body to relieve pain right where it hurts. and did we mention, it really, really sticks? salonpas, it's good medicine. (torstein vo) when you really philosophize about it, there's only one thing you don't have enough of. time is the only truly scarce commodity. when you come to that realization, i think it's very important that you spend your time wisely. and what better way of spending time than traveling, continuing to educate ourselves and broaden our minds? (woman vo) viking. exploring the world in comfort. has this happened to you? at&t and verizon rope you in with phone offers, then bind you to a 3-year device contract. break free with t-mobile! introducing go5g plus, the first plan that always gives new and existing customers the same great device deals, and you're upgrade ready in two years versus three. bring your phone to t-mobile and get one of the latest 5g sm

jack otter: if nothing is done the social security fund will have to cut payments by 23% in ten years. how can congress fix the system and what it means for your retirement next. starting a new chapter can be the most thrilling thing in the world. there's an abundance of reasons to get started. how far we take an idea is a question of willpower. because progress... is a matter of character. we're here today to set the record straight about dupuytren's contracture. surgery is not your only treatment option. people may think their contracture has to be severe to be treated, but it doesn't. visit findahandspecialist.com today to get started. jack otter: social security making headlines as the day of reckoning comes closer. by 2030 for the combined retirement and instability trust fund will have to cut benefits one year earlier than previously projected. barron look for three ways to attack this problem. let's look at the conservative approach by the american enterprise institute that combines means testing with private accounts that would be invested in markets. >> andrew biggs over ther

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jack otter: if nothing is done the social security fund will have to cut payments by 23% in ten years ho sometimes you're so busy taking care of everyone else you don't do enough for yourself, or your mouth. but eventually, it will remind you. when it does, aspen dental is here for you. we offer the custom dental treatments you need, all under one roof, right nearby. so we can bring more life to your smile... and more smile to your life... affordably. new patients without insurance can get a free complete exam and x-rays, and 20 percent off treatment plans. schedule your appointment today. and i remember kind of thinking like, "oh my gosh, i think we could be sisters." because i think we looked... yes. right. yeah. and i don't think at that time- i think you're the one to tell me that we had the same birthday. yes. it's really unbelievable when you think about it, because it's been, like, really over 20 years that you were my mother and father's banker, you became my banker and now fran is in her third year of college and you're her banker. it's so unbelievable because i'm just 20 yea

social security. the social security retirement fund that social security administers, that money belongs to the people because they worked for it. they pay taxes. if they cut -- if they don't come to an agreement and the government shuts down and social security goes out of business and medicaid is affected, you will be violating the civil rights of many people. i would probably say 8 million, 9 million. only a federal grand jury can decide who has the right-of-way. it would be really sad to see somebody actually -- the u.s. department of justice will provide an attorney for the speaker. it would be sad to see a legal situation evolve. host: we appreciate your call. we got your point. we will move onto duncan in cocoa, florida, republican line. good morning. caller: good morning. i am 38 years old. i feel very bad about that. the reason the national debt is so high now is because of the federal reserve system. the fed is a private corporation. when john f. kennedy was president he repealed the federal reserve back to replace it with the u.s. treasury. when lyndon johnson became president he put the fe

social security and retirement. some companies are borrowing money from the retirement fund. that should be illegal. you have social security is not really funded through our money. they say that money is not really hours, that the government never really had it 100% our money. they don't want to pay back. he was talking about rental, that one guy. i tell you how i did it. i went and bought me a jeep. i sold it. i got 26,500 for it, i paid $40,000, and i used it for a down payment on a house. you have to figure out a way to save up some money. you may not be able to save it up with a savings account, but you need a car or something like that to invest in it. i was at $26,000. by the time i closed on the house, they had changed the law. i bought me another car for $7,000, and took that other money and used it close on the house. host: we appreciate your call. any feedback for ron's comment? guest: i appreciate your ingenuity. you raise a good point about social security. social security is a vital program in this country. it is very important that we as a country recognize that we must make social sec

focused on pressing issues on the african continent, including natural disasters, relief, social security, funding for conflict resolution and security threats like terrorism, business broadcast journalist winston's hockey says deeper cooperation between african states has really contributed to fighting colonialism and stabilizing the region. i'm sure they did not know that's not in the main job, but it's go body such as the organization of perfectly unity and it has like a union that obviously that could you go into a fight against new colonialism and also a shape and then it kinda zoomed mazda of a lot of the corporations across the continents and engagement based part of countries. i've got some come a little bit early on. we end up last dedicated on the confidence desk business uncle, struggle funding, african resources, where we've seen a lot of continental countries coming to pick up and not just to focus on where the, the, the, how big concerns all the content. but just under resources. but rush your possibility model wise, uh, rush your house consistently spoken from the depths of the nati

social security cheks checks will stop? really, social security does not need congress to authorize funds. al security benefits are considered mandatory spending, they are paid from the programs trust fund. the agency has funds to continue to pay benefits. so biden lies again. what about medicare? medicare has its own trust fund. it will pay physicians and hospitals out of the trust fund and reimburse them because, that is paid for from medicare trust fund. what else? what doesn't shut, fbi, dea. did-- shucks, customs and border protection, transportation, security administrations. and department of defense. they don't close as a matter of law, where do they get that money from? in addition to trust funds that pay social security. medicare, also the v.a. it protected, veterans administration. they are protected too that comes out of other funds, medicare, social security, and v.a., protect, military is protected. that is what he keeps talking breminder america, in 1975 joe biden introduced a bila bill to require. >> you legislation every 3 to 4 years to reauthorize social security and medic

according to the trustees of social security and medicare and the report they issued this spring social security primary trust fund will become insolvent in 2033. while medicare trust fund goes broke in 2031. contrary to what some democrats claim, doing nothing to address these programs is not an option. social security and medicare board of trustees, which consists solely of president biden's administrational officials, have made it clear that congressional inaction means automatic benefit cuts within the next 10en years. yet president biden has accused any republicans that mention the word social security of wanting to cut the program. though nothing can be further from the truth. in 1984 senator joe biden sang a much different b tune. he understood the dire fiscal situation before our bold action from this congress. he advocated applied across the board. it would have frozen spending on social security, medicare, defense and muchnd more. i think any republican has proposed today comes close to the broad basis cuts advocated by then senator biden. what republicans have foot forward it likely not go far enough fo

8 trillion ison held by governmental entities and that includes the federal reserve, to social security trust funds, the medicare insurance, u.s. military retirement plans. anything we do to jeopardize the value of those treasury bills where 100 cents is what they are worth on the dollar and compromises the security americans depend on from those trust funds. the 24 trillion held by the public includes 3 trillion held by individuals by households, by for profit and not-for-profit entities, by endowments. if we jeopardize that risk-free asset it means they lose value. every one of our constituents knows what those are and believe that they are going to get one dollar out for every dollar they put in. we jeopardize that treasury bill i defaulting on our debt. they may get 95. that is real havoc and payment for so many americans. 2 trillion is held by banks. that's the money they have to guarantee the deposits if we think that we have an issue with a run on the banks of first republic wait until this happens and there is a run on these banksse who because of an action that this congress took has a cat

8 trillionon is held in governmental entities and that includes the federal reserve to social security trust fund, medicare u.s. military turmeric tournament plan. anything we do to jeopardize the value of those treasury bills where 100 cents is what they are worth on the dollar compromises the security that americans depend on with those trust funds. the $24 trillion in treasury held by the public includes $3 trillion held by individuals, by household for-profit and not-for-profit entities by endowments. if we jeopardized that 1 dollar for 1 dollar risk-free asset it means thoseho individuals who on as part of their portfolio. treasury loses value. to $.8 trillion is held by mutual funds. everyone of our constituents knows what those are in and most of our constituents have money deposited in a money market account. they absolutely believe they are going to get 1 dollar out of every 1 dollar that they put in. we jeopardized that treasury bill by defaulting our debt they may get 95 cents or 90 cents. we are paying for so many americans. $2 trillion is held by banks. that's the money they have to

>> our trust fund, we don't go into social security trust fund. >> no, as compared to what we have doneent social security trust fund. you're taking the money and putting it in the market, which we know is up and down. >> first of all, like senator candy, working with democrats and republicans, trying to get things done, that's critically important, how we get things done. it would be easier if we didn't have the threat of default on our debt. it would be nice if that was off before we start borrowing more money, that we're not jeopardizes that. >> all right, let's move on. >> number two, what i like about senator cassidy's proposal, we need to maintain -- at least maintain the benefits of the social security system. we talk about middle income families and retirees. they depend upon their social security checks. we want to make sure they're going to continue -- >> think of the idea of taking money and putting it -- i understand this is new money, but putting it into the stock market? which can go -- >> right. >> which people suggest that this is the foot in the door to privatization. >

and the government has access to a lot more resources and then they claim, including the social security fundould be done. i think the party came out very well. listen, i had my doubts. the government has got to stop spending money. as you say, they wasted three times, this would be the fourth time. so, what is the meaning of it? unless they actually stop the spending. >> dana, i saw that you have, or started working on a new book, i keep my eye on you like you keep your eye on me -- >> that's right -- >> your nubuck on the house republican majority to be published next year, and you that you are going into it with an open mind, with a working title, fools on the hill. and then, in your weekly column for the washington post, you wrote, quote, save the world economy or his own job, mccarthy can't decide. please, explain the dimension here. >> i disagree with some of what rick said, but he is right. i think mccarthy got a pretty good deal. you know what? you have a lot of leverage when you have a lot of people in your caucus who don't mind shooting the hostage. you know, matt gaetz is even sayi

social security the bipartisan policy center has looked at this and we had a wemajor commission that focusedn it with former members of congress as well as the former trustees of the social securityy fund and we looked at this issue and think we would take the position that you took when the age was established at 65 and we went through an exercise in the 1980s where we were faced with the trust fund being depleted and there was an effort made by at that particular time again senator dole, senator moynahan and others. we did modify the age of eligibility by pushing it out froman 65 to 67 retaining the early retirements to left 62. i quite frankly the work we put together agrees with you that we should be looking at adjusting at 677 as longevity and unfortunately the last couple of years longevity has declined not to increase due to the manufacturer being the opioid issuers that we have now but long story short here again i do think that there are ways you can extend social security and make it more available and at the same time without jeopardizing the benefits for those who want to work longer and receive social security. it cannot be just on the agean adjustment though i think you h

and has the social security administration been funded appropriately? æ >> to make the technological, the chairman is completely right about artificial intelligence after all the hearings we've had on this and the capability that exists out there, we better get repaired real quick to deal with this and that's not going to be something that we say we can reshuffle the agency and they will be able to do this on their own that simply is not going to happen most importantly when we are talking about all of this. and ms. wechsler you brought it up and i am empathetic to your concerns, what was the cost $38 million? the agency has got to be able to deal with the 10,000 baby boomers a day become eligible for social security. that's 3,650,000 a year. it will be over 70,000 social security recipients within a couple years. so we are going to need to have to find social security we are not gonna be able to solve this problem by cutting social security and cutting benefits and cutting agencies so they can deal with this problem. in fact, i think we should look in

and just like there's a social security trust fund, there's money in that trust.there is no question about it but you will be getting internet trust to pay for current debts you incur through spending and through trade and with the united states owes interms of its responsibilities . >> could that happen? thesocial security trust of the related information gets desperate ? >> over my body dead body. >> larry, alabama, democratic line, was a question or comment ? >> good morning misterlawson, how are you doing ? >> a better idea of the. >> you bend over here along first this is not the trip back when former president obama was president we came in a matter of fact you send some money for the medicaid here in alabama. the governor back then send it back so you try here on this debt ceiling, you may eight point and a was on the show, greg murray from north carolina and he said the president will be playing and you made a point earlier that congress holds the purse. they make the law, not the president anybody should have to lay it should come from congress. they are

social security is so big, so important. poetry can be the supreme council of social security with the members of the companies that have invested in that fund. it cannot be based on the strength of the fund and the lock of the fund and the support of the fund . my request is to return the internet to its mother, the employer community. production rate their dissatisfaction is high and the inflation is a regulation. this volume of circulars , which are mostly similar to what he said, is contradictory and conflicting, and preys on the workforce and the agents of the social security organization, and the employer community, according to the conditions, should make changes and developments in the field of insurance. and social security to come into being, the best of command work and entrepreneurship with 11 indicators, including providing a list of insurance premiums based on the number of insured persons and the actual wages of choosing an employer and a workshop, and focusing on the production of iranian goods , were producing iranian goods and at their disposal people put the second most important indicator of ours is actually the discussio

social security and medicare were off the table. let's be honest, if we do not make changes in those programs in the future that may, that will result in make those changes social security trust fundwill exhaust in a year to free the hospital interest on will exhaust in 31 if my dates are correct and it happens there will be options from what people thought they were going to get in socialsecurity . there will itoptions in medicare payments. if you're being honest on the spending side and you have to talk to them straight up in's we have been on the books in mind when he's back even before buying an obama as i say, these major income programs available for a long time now seeing the consequences of the expenditures listen, i want to believe in counseling sending. i think we should go and there are areas which we can be and you are. unless you're willing to tell the public what is the real drivers of spending that let's take the other side of the equation. let's not pass this on to future generations. let's talk about other office is mediation starting for the benefits weenjoy today . ask taxes. >> will positions you layout for our officials. we get a text message from robbers in t

social security. the social security retirement fund that social security administers, that money belongs to the peopleecause they worked for it. they pay taxes. if they cut -- if they don't come to an agreement and the government shuts down and social security goes out of business and medicaid is affected, you will be violating the civil rights of many people. i would probably say 8 million, 9 million. only a federal grand jury can decide who has the right-of-way. it would be really sad to see somebody actually -- the u.s. department of justice will provide an attorney for the speaker. it would be sad to see a legal situation evolve. host: we appreciate your call. we got your point. we will move onto duncan in cocoa, florida, republican line. good morning. caller: good morning. i am 38 years old. i feel very bad about that. the reason the national debt is so high now is because of the federal reserve system. the fed is a private corporation. when john f. kennedy was president he repealed the federal reserve back to replace it with the u.s. treasury. when lyndon johnson became president he put the fede

social security and medicare were off the table. let's be honest. if we do not make changes in those programs in the future, that will result in social security trust fundsting in the year 2033. if that happens, there will be reductions from what people thought they were going to get in social security. there will be reductions in medicare payments. if you are being honest with the american public on the spending side, you need to talk to them straight up about entitlements that have been on the books. these go back this for trump and biden and obama. these major entitlement programs have been on the books for a long time. now wes are seeing the consequence of the expenditure -- now we are seeing the consequences of the expenditures. there are areas in which we can be better at spending than we are, but unless you are willing to tell the american public what is the real drivers of spending, let's take the other side of the equation. let's not pass this debt onto our future generation. let's talk about another third rail of politics. maybe we should start paying for the benefits we enjoy today. that is taxes, unfortunately. host: difficult positions new

the stock >> and the last piece of the puzzle that we have to start recognizing is the social security trust fundns we're going to have automatic decline in funding, in payments to social security recipients. >> president trump has not helped with entitlements then he gives cover to democrats -- >> we've had no president that has really helped with entitlements in the modern era at the end of the day, your job as a -- as president or as a congressional leader is to get re-elected it's difficult to take things away from the general population and then say please support me and vote for me. that said, the calculus to get re-elected and the calcuhlus to running a financially responsible country -- >> you know how we still hear that socialism is the way to go, we just haven't done it right? next time it might not kill 100 million people, it might work. >> i'll take the other side of that >> but also mmt. people are telling me that the dollar is the reserve currency of the world, and no other currency comes close so we have the ability to print as much as we want, and we're going -- it's never -- we c

able to send out the social security benefit check, and the reason for that is social security pays benefits right now by cashing in bonds, treasury bonds that are held in its trust funds do that to social security. but at the same time, every time it cashes in a bond it lowerses the debt held by the social security trust funds. and the debt subject the statutory limit happens to include both are publicly-held debt and the debt held by the trust funds. is so from that perspective, finish be a wash and it shouldn't be a problem. problem is that's theoretical, and in practical reality it's more complicatedden than that because there are timing issues. the federal government has to first make the cash available by borrowing in order for the social security administration to be able to redeem a bond held in these trust funds. and it's where those timing issues come into play that we run the risk of a problem. scholars have looked at this, and i think there is a feeling there is a way to manage it, but it's complicated. it involves the managing trustee of the treasury, the treasury secretary basically creaming social security -- redeeming social security bonds in advance of

social security is so big and so important. excellent social security with the members of the companies that have invested in the fund, it cannot be as strong as the fund, the lock of the fund and the support of the fund . my request is to return the internet to its mother . the volume of circulars, which are mostly similar to what he said, is contradictory and contradictory, and preys on the workforce and social security organization agents, as well as the employer community, according to the conditions , there should be changes and developments in the field of insurance and social security. and entrepreneurship with 11 indicators, including providing a list of insurance premiums based on the number of insured people and real wages, were selected as an employer and a workshop, and its focus was on the production of iranian goods, they produced iranian goods and provided them to the people . indeed, the discussion is increasing the employment of the workshop that could have the highest increase in the number of insured and employed in the last one year, so we did the third party and then the timely payment was bananas and the i

social security has program people don't know much about called ssi supplemental security income which is separate social security and it's funded directly from the government. and that program is so complicated that it's hard to manage. we actually i was there. we got it off of high risk list, but it's because you had to prove your income. you had to prove, yeah, you couldn't work. you had to have no assets. and it just became very complicated. and we put those rules in place for good purposes so people, you know, there isn't waste and abuse but it's still is waste and abuse. your friends here have some tough questions so you have them bring up the index cards and i'll read them. let's talk about the short term because approaching probably mid to late summer, when we reach the date, when it comes to the debt limit, for argument's sake, assume that both sides come together and they the debt ceiling. republicans say we need to cut spending. democrats are saying raise the debt limit first. then we'll talk about spending. you're at the bipartisan policy center. what should we be doing? what should washington be doing to get that da

the event of a default of debt, social security payments must be made until the trust fund is depleted i will hang up and listen to your comment. guest: i think it is a wise comment. the reality here is that social security payments will not be cut. social security payments will be made. host: you don't think they will be delayed or there is a possibility they could be? guest: we are not going to default, number one. number two, in the event that that happens, i know everybody would make every effort to make sure those payments were made and made timely. and that we avoid any impact on our seniors and those on social security disability that rely on those funds. nobody is looking for a default. the question is, how do we avoid it? the president sit down with the speaker yesterday. they agreed to a smaller negotiating team. they are moving forward to get something done over the next two weeks. that's the objective. i think the fear mongering on this, primarily by congressional democrats and at times the white house, is wrong. it is not helping matters. everybody should focus on getting

social security and retirement. some companies are borrowing money from the retirement fund. that should be illegal. have social security is not really funded through our money. they say that money is not really hours, that the government never really had it 100% our money. they don't want to pay back. he was talking about rental, that one guy. i tell you how i did it. i went and bought me a jeep. i sold it. i got 26,500 for it, i paid $40,000, and i used it for a down payment on a house. you have to figure out a way to save up some money. you may not be able to save it up with a savings account, but you need a car or something like that to invest in it. i was at $26,000. by the time i closed on the house, they had changed the law. i bought me another car for $7,000, and took that other money and used it close on the house. host: we appreciate your call. any feedback for ron's comment? guest: i appreciate your ingenuity. you raise a good point about social security. social security is a vital program in this country. it is very important that we as a country recognize that we must make social securit

representatives that were willing to commit to this big idea. $1.5 trillion in an investment fund separate from social securitye risk falls upon the fund. if the market goes down people still get benefits. no 24% cut. when joe biden came out in hthe state of the union speech and began to talk about republicans trying to take away your social security it all fell apart. the president clearly plans to run for re-election as does donald trump making social security an issue, attacking anyone who comes against them. they are ignoring a problem which is important for seniors, for our nation's indebtedness. i wish both of them would show real leadership. >> before you go, florida governor ron desantis is anticipated to announce he is running for president. south carolina senator tim scott has filed paperwork to do the same. former vice president mike pence likely right behind them. here is something governor desantis reportedly told donors on a phone call this week. quote, you have basically three people at this point that are credible in this whole thing -- biden, trump, and me. i think of those three, two have a c

social security to nearly 70 million recipients. or any of the countless programs or contractors that get paid by the federal government social security is funded in large part with dedicated payroll to that trust fund makes social security a government bond holder. what might transpire his worst-case scenario if anyone's educated guess on the center for budget and policy priority there is no roadmap for default, because the idea is not default. if the government doesn't have enough money it holds off paying anything until congress rebuilds. it goes on from there to discuss social security and other programs that might get affected if a default occurs. today at the white house, trying to negotiate some path forward. the debt ceiling is at the center of the issue and we are asking what's your message to washington on that when it comes to the negotiations in the larger aspect of the debt ceiling. you can call us, text us, post on social media. next up. caller: think you for taking my call. i'm a republican but i totally agree with the previous caller and i think he was a democrat. that's something you don't hear often. i'm actually calling and b

there will also be more focus as we start to see projections of things like medicare and social security trust funds going bankrupt, which are projected around the end of this decade in the meantime, i think basically what we have seen is that for the last 20, 30 years, you had all of these warnings about the dangers of budget deficits and the dangers of high debt here we are with around 100% gdp debt ratio, and i think people are sort of feeling like maybe those mornings were a little exaggerated. >> i totally agree >> that's the basic difference between now and where we were before >> all those people that warned over the years, it may yet become a much bigger crisis, but it's like the boy who cried wolf we're in such a worse position now, but it seems to be much less of a crisis thank you for your time today. >> thanks. >>> so if we do get the two-year deal, how do you play it my next guest brings two names he seems well positioned to get a short-term bounce. let's welcome in andrew slimmen from morgan stanley. good to see you, andrew. let's get right it to. what do you think are the beneficiarie

social security needs to not even we talked about, is not a budget item. the trust fund is a fund generated in it's going in there. if you don't address military spending of monies in foreign countries, it's a sliver in the budget pie. >> "wall street journal" this morningon saying the phony debt ceiling calamity, the author the u.s. treasury predicted to robert cash, the earliest is june 1. janet ellen warned of economic statutory debt limit. whether it's defaulting on interest payments due on the debt or social security recipients or medicare providers, we simply not have enough cash to meet all obligations. others say this is dangerously misleading. it will cause a default on the national debt. debt payments of the future and the government pays off debt, the debt subject to the statutory limit declines. this means the government can roll over such obligations, issue new debt to pay off all that without violating the debtm limit. the same piece, offers regarding the 14th moment,g he social security benefits servicing the national but, there legally obligatory because

here on the democratic side for the last six years now on putting forth a social security reform measure that would significantly fundat we need not worry about a default on social security. also, certainly medicare and health care prices are a concern going forward. neil:in other words you do recognize entitlements a big chunk of this. i don't know details of your social security plan, congressman. i do know a lot of democrats say revenue issue, revenue from the rich folks or the rest or make it means driven. that isn't going down well with folks but you're open to all of that i guess? >> well certainly we're going to have to deal with the tax side of it. neil: yeah. >> one of the things that is up, one of the things republicans are not talking about is that the 2017 tax cuts, which amounted to several trillion dollars reduction in the revenue to the federal treasury, that sunsets in a couple of years and quietly around here the republicans are maneuvering to extend those tax cuts, 83, 85% went to super wealthy. neil: you're saying debt problem is all the tax cuts? is spending not at all a factor, spending 2 trillio

there are three of them, that is, on the one hand, the social security department, which accepts application documents and declarations , the pension fundies, which assign and pay subsidies, and the national state social service, the service social service , which monitors the correctness of the assignment and payment of these subsidies. well what i want to say is that today i am still confused , unclear, what will the pension fund authorities do from may 1, why? because according to the existing system, that is, those provisions about subsidies, those people who are, for example, internally displaced persons cannot automatically be assigned a subsidy, they must apply to the social security authorities or the pension fund authorities with a request to assign them a subsidy, why? well , because, for example, a person lived in kharkiv on saltivka and he had a subsidy there but all as a result of artillery fire and rocket fire, she was forced to move to ternopil lives in ternopil rents an apartment in kharkiv she was exempted from paying for housing and communal services in accordance with by the notices that the mayor of the city of terik

kind of circumstance, where there was no debt ceiling increase, what he did, he raided the social security trust fundkeep paying the bills. now, i'm not suggesting that by any means. i want to make sure that people understand that there is no necessary date by which we run out of money. >> that's an interesting point. yellin has said that she does not want to get into a process of what bills treasury pays, though she admitted today that there are some difficult choices ahead. and on that point, on the substance of these negotiations, robert, what do both sides need to concede on? where do you see an agreement between republicans and democrats? >> boris, i don't see an agreement. that's one of the big problems here, because you've got the right wing maga republicans, who are saying to mccarthy, we're not going to go along with anything that is in any way a compromise. we want to really push the democrats to the wall. yet you have a lot of democrats who are saying, we don't want to cut spending. we're not going to put more work requirements, andchi say more, because there are al of work requirements on

security benefits. number two, do you recognize that in the next 10 years or so, the trust fund on social security is going to run out and under the law, benefits would be cut dramatically like 25%? you are aware that. dir. young: i am aware. sen. romney: that's a problem? dir. young: of course. sen. romney: why in the president's budget is there no effort to address that? dir. young: we clearly disagree on this, there are some that have policies on websites i'm happy to print them and send them to the committee whether they have changed their position is another thing who want to cut -- sen. romney: that was not the question. you have to answer the question. i asked the question why does the president budget not layout how you would protect social security? dir. young: this president believes the existential threat to the social security is those who want to cut it. sen. romney: i know of no republican or democrat in the house or senate who is proposing cutting social security benefits and it's dishonest keep saying it. it's offensive dishonest and not realistic. we have a problem was so security we need