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Politics : Formerly About Advanced Micro Devices
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To: RetiredNow who wrote (218316)2/9/2005 1:40:09 PM
From: Alighieri  Read Replies (3) of 1573994
 
It simply means they are flat broke and can't pay their debts. Why do you think they say they'll have to reduce benefits? It's because the SS assets will be exhausted.

Bankruptcy is the point where no assets or income exist for a person or a business to pay its debts or financial obligations.

In your example above "they" is us...you, me, the american people.

So this is an issue of choices over how to tweak the system. Going around telling the american people that SS is benkrupt is a lie. By that definition the federal goverment is bankrupt today.

Al
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