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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (218316)	2/9/2005 1:26:30 PM
From: Road Walker	Read Replies (1) \| Respond to of 1574054

re: YOu are splitting hairs. If you ask anyone in the U.S. what does bankruptcy mean, they will tell you the persons net worth is zero or less than zero. That doesn't mean that they don't still have an income. 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. That is what bankrupt means. When inflow and outflow match, it's not bankruptcy. Ask any of 50 million US households that are living paycheck to paycheck. re: That is what Bush has been saying and that is fact as stated by both the CBO and the SSA. No it's not. He's lying, admit it. John

To: RetiredNow who wrote (218316)	2/9/2005 1:40:09 PM
From: Alighieri	Read Replies (3) \| Respond to of 1574054

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

To: RetiredNow who wrote (218316)	2/10/2005 12:27:03 AM
From: Elroy	Read Replies (2) \| Respond to of 1574054

<iIf you ask anyone in the U.S. what does bankruptcy mean, they will tell you the persons net worth is zero or less than zero. That doesn't mean that they don't still have an income. It simply means they are flat broke and can't pay their debts. Bankruptcy means you can't pay your debts which are due NOW, not that your net worth is zero. You can have a negative net worth, but as long as your debts aren't due TODAY, you have the time in between today and the day your debts are due to increase your assets and pay your debtors. It's not a point in time number of assets. It has to involve the timing of when your creditors come a calling.