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On Sun, 10 Apr 2011 01:56:13 -0400, wrote:

On Sat, 09 Apr 2011 21:32:33 -0700, wrote:

On Sat, 09 Apr 2011 23:32:26 -0400, wrote:

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.
Right now they would have to borrow every penny again from someone
else to cash those bonds. How is that not
upside down"?

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

Only right wing nuts think a crisis that might happen in 30 years has
to be fixed in the current hard economic times.

We are rapidly coming to the end of that road we have been kicking
that can down.

I always hear SS was "the most successful program in history" but that
was when it was paid for. Now it is in deficit. That is a fact and you
can't spin it any other way. The problem is now, not in 30 years. We
are just in denial and we are still borrowing money because it is
still cheap but that is not going to last long. The interest on the
debt is over $200 billion now and we are still paying less than 1% for
2 year treasuries. That could change the next time we have the auction
and 3-4% is not a ridiculous projection if our paper just slightly
falls out of favor. They already demand that for a 10 year note.

According to you.