Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: AC Flyer who wrote (21630)	7/25/2002 2:39:13 AM
From: Don Lloyd	Read Replies (2) of 74559

AC, ...There is no social security trust fund in the sense that there is no money set aside with the names of individual taxpayers attached to it. ... This is an understatement. There is no social security trust fund in any sense that contains any meaningful economic assets whatever, independent of names. Nothing in the trust fund can reduce possible future requirements as may occur for new taxes, new borrowing or reduced benefits. No future shortfalls would be affected one iota either way if the trust fund were emptied completely, or if its contents were multiplied a thousand fold. No one has ever gotten rich by writing IOUs to himself. Regards, Don

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