At 09:56 PM 2/17/2005 -0800, you wrote: >JDG wrote: > >> Sure, the Social Security Administration has government bonds, but if >> Congress were to pass a law establishing the Social Security Retirement >> Age as 80, then a good portion of those bonds wouldn't be a darned >> thing. > >Until the next election cycle, that is.
You mean, presuming that the next election installs a government that restores the benefits? But let's do it in reverse. Let's say that the government moves the retirement age to 55. And lets say that this causes the so-called "bonds" in the Trust Fund to be depleted in the very near term. Those bonds were *still* meaningless, because it is implict that the promises of Social Security are backed up by general revenues funds from the Federal Government. JDG _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
