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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Amelia Carhartt who wrote (414294)	3/31/2011 7:45:27 PM
From: benwood	2 Recommendations Respond to of 436258

That's mostly future liabilities, not current debt. It means the SS (etc.) payouts will get smaller in real terms. It wouldn't take much of a tweak today to eliminate tens of trillions off that sheet (say, 20-25% reduction). Yeah, it would suck, but it's going to happen either by legislation or more likely (~1000 times more likely) by currency debasement. However you look at it, though, we are so screwed...