JDG wrote:
There is no "excess money" in the system. Every dime of Social Security> taxes collected in excess of current payments is currently being spent by
the rest of the Federal Government.
Misappropriated?
After all that spending is done, the US Government is still borrowing on the order of $500 million per year.
The Bush deficit.
If the Social Security Administration were to sell its "IOU's", it would essentially flood the market for US bonds, making all US bonds less valuable. By no longer permitting the rest of the federal government to spend excess Social Security collections, you would dramatically increase the amount of money the Federal Government would need to borrow.
So basicly what you're saying is that because Social Security money isn't being used for what it is intended we have to scrap the system?
-- Doug _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
