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To: Don Lloyd who wrote (114291)7/24/2001 5:29:39 PM
From: Ken98  Respond to of 436258
 
Don, that is a very good summary. Stated another way - the only "asset" of the "trust fund" is the ability to tax us to pay for the then-current set of benefits (unless greenie knows of some other "asset" in the trust fund with which no one else is familiar).

And, when the demographic pyramid turns upside down in the next 10 or so years, this Ponzi system will cough up a hairball. I am disappointed at the lack of serious dialog on this topic by any politician.



To: Don Lloyd who wrote (114291)7/24/2001 6:12:52 PM
From: KyrosL  Read Replies (1) | Respond to of 436258
 
Don, I am not disputing the fact that the government will have trouble keeping the current level of SS benefits for future generations. All I am saying is that the trust fund IOUs are equivalent to publicly held government debt. And, therefore, are just as real. Of course, all government obligations depend on the government's ability to tax.


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