SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?


To: Wayners who wrote (41668)11/28/2010 10:15:49 PM
From: DuckTapeSunroof  Read Replies (1) | Respond to of 103300
 
Looks like a blip (above the longer-range forecasts that we were already familiar with) because of two temporary factors:

"...Officials say part of the increase is due to the increase in the full Social Security retirement age last year from 65 to 66. But they say there's no doubt some is also attributable to people cashing in early because they've lost their jobs."

However we already knew that S.S. was demographically close (just a couple of years out) from the point at which politicians would no longer be able to use it to disguise how large the general federal deficit was, because they would not be able to 'raid' the trust account and divert funds to the general account because the cash flow from the Treasury Bonds held in the Social Security account would be all required by Social Security.

But --- point of clarification here --- those Treasury Bonds held in the Social Security account are EVERY BIT as valid (and dependable) as *any other* US Treasury Bond on the planet.

No more, but certainly no LESS either.... "Full faith and credit...."