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

To: Road Walker who wrote (357693)	11/9/2007 10:49:30 AM
From: TimF	Read Replies (1) \| Respond to of 1573763

No legal opinion is needed. It couldn't happen under current law, but 50% + 1 in each house of congress can change the law. The SSA is part of the federal government, under the control of congress. Congress can pass a law having the SSA cancel the bonds. Their is no taking involved because no money is taken by the government, it just the government shifting its balances between accounts, similar to me moving money from my savings account to my checking account. Alternatively congress could pass a law that shifted all future social security tax income directly to the treasury. The SSA would still pay out, but every pay out would involve getting the money from the treasury and would amount to paying back those bonds.