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Originally Posted by KMA-628
The trust funs has zero economic assets. It has a ton of money owed to it, but it has zero real dollars in it.
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US government debt is an economic asset.
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Originally Posted by KMA-628
No one is arguing that the trust fund has zero dollars in it (at least no one that has looked at the facts), the argument is how to we pay back the money.
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I will argue with this. It has money. Does it have physical cash? Hell, your chequing account doesn't have cash in it.
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Originally Posted by KMA-628
The money was borrowed from the trust fund and spent without any plan of paying it back.
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Insofar as the US government borrows money for every single purpose under the sun, without any plan of paying it back, this is true.
This isn't a crisis of social security. This is a crisis of general government finantial mismanagement. The US congress is in massive deficit financing mode -- they are spending money hand over fist which they don't have.
The social security debt only makes the existing finanicial imprudence of the federal government even worse -- it is just one of many debts.
What GWB is describing is defaulting on trillions of dollars of US government debt. He's describing stealing from the social security fund, by zeroing it's assets, and using that to prop up a horribly leaking government finantial situation.
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Originally Posted by KMA-628
Read the posts in this thread. The trust fund has been discussed thoroughly, with plenty of factual evidence to back up the assertions.
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I have read them. They consist of people disagreeing with you, and some agreeing with you. There has been no consensus reached. The issue sure looks open to me.
And calling your opponents "wacko" isn't polite.