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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (357681)11/9/2007 10:29:56 AM
From: TimF  Read Replies (1) of 1573711
 
No you don't. You have the current law.

You also have bonds.

No you don't.

Neither current nor future social security benefit recipients owns a government bond, or any other type of government debt obligation, by being part of the social security system (they can buy federal government bonds, or own funds that own such bonds, but that's their own investment, not something they get from the SSA).

Even the bonds owned by the SSA are in effect loans from the government to itself. Loans to yourself are neither real assets nor real liabilities. The bonds could be canceled without default. They could be doubled without their being any real effect (other than delaying the automatic reductions in benefits that current law will force, if it isn't changed first, when the nominal trust fund runs out).
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