dilloduck
Diamond Member
They were in good shape before they were forced to shoulder the bad mortgages made by financial institutions.
And SSI doesn't have problems. They are solvent for at least a quarter century.
Where you been?
Solvent
because the baby boom, the largest segment of our population, was paying in and not collecting
well that has changed now
There is no real money there
just yellowing IOU's from a gov't that is broke
The Left really is bad with finance
Who ELSE besides social security admin owns Government debt, Neo?
Do you know?
Are they broke, too?
Because if SSA is broke because they have government bonds, then aren't the 401 K, insurance companies, banks, corporations whose books have government debt in the ASSET columns ALSO in trouble?
And if they're ALL in trouble, then isn't the entire economic system dubious?
I only ask because I'm trying to gauge just exactly how much you really understand about that debt and who will be in trouble if the FED stops paying it back.
WHO else, what other institutions, own that $12.6 trillion or so worth of government bonds?
Here: $14 Trillion in Debt, But Who Owns All That Money? - Yahoo! Finance
Now imagine what happened to the world economy if SSA doesn't get paid, and neither does any other creditor of the US government.
Do you think only social security recipients are going to get hurt?
Yes---I don't think there can be any doubt that our entire banking system is dubious. Virtual money doesn't seem to be working and we're having a hard time spending all that money that will be coming to us in the future.