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Politics : The Obama - Clinton Disaster
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To: DuckTapeSunroof who wrote (35328)8/9/2010 4:59:45 PM
From: Wayners1 Recommendation  Read Replies (1) of 103300
 
That interest money is being paid through a combination of general tax receipts and more borrowing (and most of it is from new borrowing probably at a higher interest rate). That rate of borrowing is not sustainable and that is why Social Security is not sustainable. Look they are already floating raising the retirment age to 70. If that passes, that is a DEFAULT of Social Security. Social Security has already defaulted once before, the last time they raised the retirement age. Remember, once they change the rules to diminish benefits, it is NO LONGER Social Security, it is a completely new program, kind of like a Restaurant going out of business and coming "back" under new management.
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