Al Gore vs George Bush: the moderate's perspective Message Board

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Politics : Al Gore vs George Bush: the moderate's perspective

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To: Fiscally Conservative who wrote (1379)	10/6/2000 12:26:38 AM
From: Hawkmoon	Read Replies (1) of 10042

Thanks for providing the answer Finally... (but I was actually trying to bait some of our "other" more liberal members... :0) Right now we are running a surplus on SS and we have been for some years now.. But that surplus has been rolled into the general budget and used to fund day to day govt operations, with an IOU thrown in that some future taxpayer has to fork out money for. In effect, those surplus SS funds have made the deficit out to be lower than it actually was. Now whatever surplus we actually use to pay down the national debt also goes to pay off some of those IOUs.. In effect, since the SS surplus cannot be invested in anything other T-Bills, the excess money will go to buy out foreign and domestic commerical holders of US govt debt. So in the end, the US govt will be the biggest holder of its own debt, which in essence is a in fact, a paradox since the obligations will still be there and the govt is in fact, paying interest to itself. What happens when the government has no more commercial holders of govt debt? Can a government actually issue debt to itself? Can I loan money to myself?

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