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

To: Wharf Rat who wrote (136119)	8/23/2013 7:30:32 AM
From: Metacomet	Read Replies (1) \| Respond to of 149317

“these Treasury bonds are backed by the full faith and credit of the U.S. government in the same way that all other U.S. Treasury bonds are, making them anything but ‘worthless IOUs’ as Krauthammer suggests.... There is the problem that the full faith and credit of the US is still subject to the irrational behavior of Krauthammer's cohorts in the House It may be that this historic standard may soon be worthless as mm suggests ..but that is the same hostage logic as Sheriff Bart employs here, which is so very typical of current GOP mentality ..

To: Wharf Rat who wrote (136119)	8/23/2013 9:33:46 AM
From: RetiredNow	Read Replies (2) \| Respond to of 149317

Nope; they are interest bearing treasury bonds, the so called "safest investment in the world." -wharfrat This is simply not factual. Go to the SSA link I sent you and READ. They tell you unequivocally that the SS Trust fund does NOT own Treasury Bonds that are traceable on the open market like any other real economic asset. Rather, they own "Special Issue" treasury notes, which are IOUs from the US Treasury. They are not the same thing as a tradeable Treasury Bond. Regardless, the point in fact is that the SS is running a cash flow deficit, which the US Treasury has to fill through issuing more Treasury Debt every year. The tax payer is becoming more indebted due to SS deficits. This is a fact, not disputable, and not debatable. Just read the SSA website. They tell you everything.