07-13-2011
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Wandering Aimlessly
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Join Date: Nov 2002
Location: Cruising
Posts: 14,636
Rep Power: 12
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The end of a Myth
With his threat, and yes, it is a threat, not to pay out Social Security benefits next month without a debt limit deal, Obama has, at last, put an end to the myth of a Social Security "Trust Fund". Because what that says is, we can't pay benefits if we can't borrow the money to pay them. In other words, there's no actual money in the Trust Fund, just worthless paper IOU's.
After years of robbing Peter to pay Paul (by both parties), it turns out there's no Paula to pay Peter. They have to borrow even more money, just to pay what they've already promised.
Where does it stop?
__________________
John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
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