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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (136074)	8/22/2013 9:49:35 PM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

I guess you are another who doesn't understand what's in the SS Trust Fund. There are no economic assets in there. All there is is $2.8 trillion of I.O.U.s from the US Treasury. Not only is SS insolvent, it has no assets at all. And the government promising to pay is running massive deficits. When SS turns in an IOU to pay the deficits it runs every year, where do you think the US Treasury gets the money to pay SS, when the US Treasury is running a deficit? They have to borrow more money. If the market doesn't buy those bonds, then the Fed does with newly printed money. Do you really think any of that is sustainable? This is the problem. No one really wants to admit that we have a giant shell game going on here. There's no way this problem will be solved, because not one person I've met is willing to even accept that we have a problem.