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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: el_gaviero who wrote (25996)2/7/2005 10:32:43 PM
From: Larry S.  Read Replies (2) of 110194
 
el_gaviero,

I will ignore your last comment and observe that the Treasury will do what it always does when a gov. agency spends money, it will pay the bill and reduce the special treasuries in the associate Fund by the amount of the payment. Then it will go to the Public and borrow the money. So the SS Trust Fund is nothing more than a holding pen for debt, hiding it from view. The problem is that the days of surplus revenues is coming to an end with the retirement of the Baby Boomers for which the balance in the Trust Fund is intended to help pay benefits. The debt in the Trust Fund will will effectively be transfered to the Public.

At that point in time, if not before, you will understand that the securities in the Trust Fund are real and part of our debt.

Larry
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