The calculation that SS would run out of money in 2040 actually already takes into account the surplus that has been put into the Social Security Trust Fund.
Some people say that Social Security would run out of money long before that (maybe as soon as 2018-2020) because of what secret asian man said: the surplus is "invested" in T-bills, which is basically a government IOU. The surplus money is (and has always been) spent by the government as part of the current year's budget expenditure.
The unique thing about the US government is that it prints money. So it can "pay" its liability by printing more currency. The problem will be inflation.
Actually, it's more complex than that. When a person dies, his student loan is settled by his estates. If the estate doesn't have money to cover the loan, then the loan dies with him.
I think his father co-signed the loan (I'm guessing here), so he is liable for it.
Some people say that Social Security would run out of money long before that (maybe as soon as 2018-2020) because of what secret asian man said: the surplus is "invested" in T-bills, which is basically a government IOU. The surplus money is (and has always been) spent by the government as part of the current year's budget expenditure.
The unique thing about the US government is that it prints money. So it can "pay" its liability by printing more currency. The problem will be inflation.
I think his father co-signed the loan (I'm guessing here), so he is liable for it.
I think a political post in context of current events would be okay. We'll see how it goes ...
Congrats!