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View Diary: "Saving" Social Security (46 comments)

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  •  This proceeds from a false assumption (3+ / 0-)
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    MKinTN, Crashing Vor, ferg
    paying back all the loot lifted from it
    Is not how the trust fund works. The trust fund is not a bank account or pile of liquid wealth that gets "raided" by government.

    The trust fund is, and always has been, a collection of rainy-day assets held in treasury-bonds. When you buy a treasury bond, you by definition loan money to the government.

    If your Uncle Joe buys a treasury bond, do you say that it's "loot lifted from him"? No. You should worry, though, when people start talking about how redeeming that bond would "bankrupt" the country.

    Non enim propter gloriam, diuicias aut honores pugnamus set propter libertatem solummodo quam Nemo bonus nisi simul cum vita amittit. -Declaration of Arbroath

    by Robobagpiper on Tue Oct 02, 2012 at 07:24:46 AM PDT

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