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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: bearshark who wrote (172423)	10/13/2005 8:43:10 AM
From: jttmab	Respond to of 281500

I would agree that it includes other items than SS, but I think that SS is the large bulk of it and swamps any other component. Technically, when SS pays it's current liabilities [those receiving SS benefits]the debt would go down, but the increasing liabilities exceeds any pay downs so the net would be increasing. At the extreme, you can reduce the public debt by not issuing new debt and paying the current liabilities. Both types of debt are churning old and new debt, but only in the case of public debt do you have any reasonable option of lowering the liability. jttmab