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Politics : Bill Clinton Scandal - SANITY CHECK -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (29157)	1/22/1999 12:07:00 PM
From: Daniel Schuh	Read Replies (1) \| Respond to of 67261

Les, if you want to go back to Social Security, I'll ask another question. How are the assets of the SS trust funds any different than the assets of the Federal Reserve? They both hold Treasury securities. Their holdings are part of the "national debt" at some level. Are either of these holdings more likely to be defaulted on than Treasure securities in private hands? If so, why? Similarly, on the issue of interest on Treasure Bonds going into the SS trust fund, how is this different from interest on the Fed's holdings going into the Fed's accounts? Both Social Security and the Federal Reserve are part of the Government, so it's all bookkeeping in some sense. Most people who dismiss the meaning of the SS trust fund assets would be somewhat less dismissive about the assets of the Fed, though, right?