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To: benwood who wrote (241189)	3/16/2010 9:24:23 PM
From: ChanceIs	Read Replies (1) \| Respond to of 306849

>>>Future entitlement promises are political; debt is created by a debt instrument e.g. a Treasury bond. <<< There are special Social Security bonds kept in a vault in West Virginia. I can't speak to Medicaid, etc. I would suppose that a bond represents a contract - there was an exchange of consideration. I suppose that the same is true of Medicaid. The government does withhold taxes for that. Social Security is supposed to be looking after my interests and it seems that they have by virtue of the paper bond - for whatever it is worth - which I don't think is very much. I suppose that Medicaid doesn't pretend to be anything other than a pay as you go system.