RE: SS, MORE than retirement

[Mark Gibb <mmegibb@orbitworld.net>]

James wrote:

"(From Mark Gibb)>>>However, you did confirm the essential truth
that the trust fund is a debt, not an asset. Many people do not
realize that.

Not quite Mark. You, like many others, don't see the full picture.
The bonds in the trust fund (TF) are ASSETS to the TF.  The bonds
are a liability to the general fund which borrowed the money.
Exactly the way a bond works in the private market:  Liability to
the borrower and asset to the lender!"

James, I just can't accept the above.  It makes no sense whatsoever
when the borrower and the lender are the same entity.  Why do you
make the distinction between the TF and the rest of the government?
Government debt is government debt no matter what cubby hole you
put it in.  It still represents a huge burden on my 16 month old
daughter and her children.

Sincerely,

Mark Gibb