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Politics : Moderate Forum -- Ignore unavailable to you. Want to Upgrade?

To: Bucky Katt who wrote (19798)	10/6/2005 6:59:57 AM
From: jttmab	Read Replies (1) \| Respond to of 20773

The simple answer is no one will EVER pay it, all that matters is can the sick patient continue to pay the juice (INTEREST) in a timely manner. The principal just keeps getting rolled over. You are right, no one seems to grasp the reality of this situation, but if you have ever caught Jay Leno and his Jaywalking segments, you can understand just how stupid many are. I agree. There appears to be some general agreement that Social Security won't ever pay it's liabilities. sic, Don't count on Social Security for your retirement. To put it in blunt terms. The USA will default on it's debt. Are we only going to default on the intra-governmental debt [SS] or are we going to also default on the public debt? Can we look forward to the day when the US has to go to the IMF to beg for a restructuring and debt reduction plan? Even if we only default on SS debt that will have major impact in the world. None of which will be pretty. jttmab