How I taught the Bing AI a bit of MS by asking a simple question about Medicare and Social Security. It left out the best answer.

Seemingly, it is possible for you to teach at least one of the new AI systems something, and perhaps they will repeat your teachings to other people who question them. This has interesting implications — positive and negative — which I may discuss in the future. Meanwhile, read this post and imagine those positive and negative implications. Here is how I taught the Bing Artificial Intelligence (AI, aka OpenAI) a bit of Monetary Sovereignty. The question I posed to the Bing AI was: “What are the solutions to Medicare and Social Security insolvency?” In a way, it was a trick question because being federal agencies, they only can be insolvent if that is what Congress and the President want. They are not currently insolvent because they can and do pay their bills. It’s only if the federal government does nothing that they are projected not to be able to pay their bills in the future. The truth is that every federal agency, including the SCOTUS, White House, Congress, and military would be insolvent without future federal support. Even the federal government itself, which owes trillions of dollars, would be insolvent but for one small detail: It has the infinite ability to create dollars. Here is the answer the Bing AI gave me:

There are different solutions proposed by experts and policymakers to address the insolvency of Medicare and Social Security. Some of them are:

1. Changing the eligibility age for Social Security benefits
2. Raising taxes or payroll contributions for Social Security and Medicare.
3. Implementing competitive bidding and accountability for Medicare Advantage programs.
4. Reducing health care costs and improving efficiency in Medicare.
5. Adjusting benefits or cost-sharing for Social Security and Medicare recipients.</span

I then asked: “Why would the federal government not support Social Security and Medicare the same way as it pays for all other federal agencies?” It responded:

Medicare and Social Security are federal programs for Americans who are no longer working. Social Security provides federal income benefits in retirement based on what you’ve earned over a lifetime of working.

I then asked, “You gave me 5 solutions for Medicare insolvency. Would a sixth solution be: Federal financial support, the same way the federal government pays for SCOTUS, the House of Representatives, the Senate, the White House, and the military?”

I couldn’t find any information on the federal government paying for Medicare and Social Security the same way it pays for SCOTUS, the House of Representatives, the Senate, the White House, and the military.

However, there are other resources to help with costs such as Supplemental Security Income, Insure Kids Now, and Medicaid.

I asked, “Why doesn’t the federal government support Social Security and Medicare the same way as it pays for all other federal agencies?” It responded:

I couldn’t find any information on why the federal government doesn’t support Social Security and Medicare the same way as it pays for all other federal agencies. 

However, according to Forbes, the debt nets to roughly $24.5 trillion, which omits another kind of debt—unfunded promises made under such entitlement programs as Social Security and Medicare.

I asked: “Are you aware the Monetary Sovereignty (MS) and Modern Monetary Theory (MMT) both recommend that the federal government support Medicare and Social Security the same way as it funds other federal agencies?” It responded:

According to the Monetary Sovereignty website, the federal government can afford to fund Medicare for all, and spending is cost-free to a Monetarily Sovereign government. 

Modern Monetary Theory (MMT) is based on the idea that the federal government is different from a household in that it does not need to raise money before spending it, that it can accumulate debt without any constraints on its fiscal capabilities.

I asked, “Why doesn’t the federal government follow the Monetary Sovereignty and Modern Monetary Theory suggestion and fund Medicare and Social Security the same way as it funds other federal agencies?”

I couldn’t find any information on why the federal government doesn’t fund Medicare and Social Security the same way as it funds other federal agencies. 

I asked, “Why didn’t you include the federal government’s ability to fund Medicare and Social Security as one of the possible solutions to Medicare and Social Security insolvency?”

I apologize for not including the federal government’s ability to fund Medicare and Social Security as one of the possible solutions to Medicare and Social Security insolvency.

According to AARP, the two trust funds that pay out Social Security benefits have never been part of the federal government’s general fund.

Social Security is a separate, self-funded program. The federal government does, however, borrow from Social Security.

I asked, “In the future, will you include the government’s ability to fund Social Security and Medicare as one of the solutions to Social Security and Medicare insolvency?”

Yes, I will make sure to include that in the future. Thank you for bringing it to my attention.

I asked, “Would you like to learn of another possible solution? The Treasury has the right to create a platinum coin of any denomination. So, the Treasury could create a $50 trillion coin and deposit it in the General Fund. That would eliminate the current debt and some future debt, so the government could fund Social Security and Medicare without worrying about debt. Are you aware of that solution?

Yes, I am aware of that solution. According to ABC News, legislation enacted in 2001 allows the treasury to mint platinum coins of any value without congressional approval.

Under that law, the coin’s value could be anything, but it would have to be platinum, not gold or silver, nickel, bronze, or copper, which are under Congress’ control.

I asked, “Would the platinum coin solution to funding Medicare and Social Security be one of the solutions you would provide for the question, “What are the solutions to Medicare and Social Security insolvency?”

Yes, I will make sure to include that in the future. Thank you for bringing it to my attention.

You can test the Bing AI’s honesty by asking it for solutions to Medicare and Social Security’s potential future insolvency. See if it suggests either federal funding or the platinum coin solution. You also can see whether you can teach the AI anything, good or bad. It’s the future of internet search, and you can participate. Rodger Malcolm Mitchell Monetary Sovereignty Twitter: @rodgermitchell Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell

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The Sole Purpose of Government Is to Improve and Protect the Lives of the People.

MONETARY SOVEREIGNTY