Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: zonder who wrote (218782)	2/11/2005 1:49:06 PM
From: RetiredNow	Read Replies (1) of 1574616

Finally! Someone who responds with actual proof of their position! I have to applaud you, zonder. I think you are a little more diligent than others on this thread. Now for the proof in the pudding. The liberals on this thread have said that Bush is lying when he says SS will be bankrupt by 2042. I have responded that the only lying going on is the lies the liberals tell themselves. Here's proof using your own defintion of bankruptcy: "A state of insolvency of an individual or an organization — in other words, an inability to pay debts." datek.smartmoney.com/glossary/index.cfm By 2042, all of the SS Trust Fund assets will be depleted. In addition SS will benefit outflows will exceed contribution inflows by a large margin. At this point in time, or 2052 according to the CBO, the SSA will be UNABLE TO PAY THEIR OBLIGATIONS. They will have to either reduce benefits or increase taxes. If the SSA was a corporation, at that point in time, they would have to seek legal bankruptcy protection in order to negotiate a settlement with their creditors in order to reduce their obligations to a level that matches their cash inflows. This is bankruptcy folks. Pure and simple.

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