RE: SS, MORE than retirement

[Mark Gibb <mmegibb@orbitworld.net>]

Bruce A. Eggum wrote:

"Now, if the Government would only pay the same interest to SS
as it pays for T-bills, we would likely have plenty of money.
Bruce"

This statement exposes one of the most commonly held myths about
SS and its trust funds: that they are an asset.  The trust funds
do not represent an asset because they only contain government
bonds.  Those bonds represent debt owed by one part of the
government to another.  If those bonds are to be redeemed, the
value has to come out of government revenues somewhere, through
higher taxes or reduced spending.  With this in mind, it becomes
obvious that the "interest" the government pays itself is utterly
irrelevant.

Sincerely

Mark Gibb
League City, TX