RE: Fictional Government Accounting-Answer to James

[Andre Dermant <adseale@aol.com>]

There is a vast difference between the Special Obligations owned by the SS Trust Fund and the so-called "paper assets" owned by 401(k) and IRA accounts. 
In the first case, the obligation is owed by the Federal Government, namely you and I as taxpayers. When they will have to be cashed, you and I will have to have our income taxes increased either to pay for them or if new publicly owned bonds will be issued, to pay for the interest on these bonds. 
In the case of 401(k) or IRA, they are invested either in stocks which are shares of companies made of brick, equipment, knowlegeable people successfully selling valuable products or in bonds issued by these same companies, who will pay for these bonds from the sale of their products or services. 
Where do you think it makes more sense to invest: American On-Line or government bonds?
I rest my case.