BoatBanter.com - View Single Post

Boating All Out

In article ,
says...

On Sat, 9 Apr 2011 13:11:28 -0500, Boating All Out
wrote:

Last projection I saw for SS fund zero balance was 2037.

That all assumes the US has the money to redeem those treasuries.

Some tens of billions were redeemed last year.
Looks like "having the money" is a good assumption.
Pretty neat. The world hasn't ended.
Let's see who tries to cut off or reduce SS checks.
Get the popcorn ready.

Only the government can call a debt they have no way of paying, an
asset.

Never heard the SS fund called an asset.
Never heard the government can't pay its debt.
You just make all that up? Sell it to a dope, not me.
Sadly, that kind of talk reminds me of right wing ideologues talking
about "scary future SS obligations" without counting the SS revenue
stream in their total.
They do it all the time.
Like I said, SS isn't a difficult problem - except for right wing
ideologues.
The SS fund has accumulated a bit over over $2 trillion in government
debt. It will take about $80 billion a year in other tax revenues to
pay that off in 26 years.
That's assuming there's no upturn in the economy and SS revenues, which
would boost the fund or reduce fund redemption.
Far less yearly than Iraq and Afghanistan are currently costing.
And probably less in total.
Even that dope Paul Ryan didn't address SS.
I think you're smarter than him, but you have to prove it.
Adults will come to the fore to extend the SS trust fund.
Mostly on the revenue side I expect.
In the meantime checks will keep coming as the government pays off the
debt to SS recipients.