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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (792774)7/1/2014 10:42:29 AM
From: i-node  Read Replies (1) | Respond to of 1578422
 

>>The SS taxes in excess of current benefit payments has been used by SS trustees to buy US bonds. It doesn't matter how Congress spent the cash received from the Trustees, the SS trust fund owns US bonds. When the trust fund needs to start redeeming bonds to pay benefits, either they will sell the bonds back to the US treasury, or they will sell them to other investors. The US will not default on the SS bonds, period.

You may think it is smart but whoever wrote it made no mention of the problem at SS.



To: koan who wrote (792774)7/2/2014 1:31:52 AM
From: TimF  Read Replies (1) | Respond to of 1578422
 
The bonds are held by the government, and at the same time they are a debt of the government. No default is needed for them to be a meaningless asset. If you lend money to yourself your promise to pay yourself is not actually a store of value for you, even if you consistently make the payments.


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