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

To: Road Walker who wrote (136179)	8/26/2013 5:08:08 PM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

Yes, but again, I think many folks look at SS in a very parochial way. I'm looking at US finances in totem. SS is one program within US finances. So when one program runs a deficit, then it adds to the overall deficit. For that program to own IOUs from the central US finance authority, doesn't really mean anything. It's exactly like me taking $10 out of my left pocket, spending all of it, and replacing it with an IOU, then telling my wife I still have that $10, because the IOU is backed by the full faith and credit of Mindmeld. That's silly and I'm sure she wouldn't buy that, because our family finances are now down by $10, regardless of the whether I have an IOU or not. Would you call that $10 IOU in my left pocket a surplus? I wouldn't. But that's exactly what everyone calls the SS IOUs...a surplus. It's just wishful thinking. The SS Trust fund money was spent. It's gone. So any ongoing cash flow deficits that program has are added to the deficits at the US level. Any interest paid on the SS IOUs is simply added to our US level deficits and debt. That is the bottom line.