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Author: sykesix Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 58868  
Subject: Re: Surowiecki on Soc Sec, Medicare Date: 2/3/2013 5:02 PM
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Since Social Security has NEGLIGIBLE real reserves and would shortly be BANKRUPT should current tax money not go to pay current benefits, your claims are absurd.

Yep, and not only that, the county jail has NEGLIGIBLE real reserves and would shortly be BANKRUPT should current tax money not go to pay current services.

It gets worse, the courts, city and national parks, public schools, the Army, Air Force, Navy, Marines, the FBI, and the dog catcher have NEGLIGIBLE real reserves and would shortly be BANKRUPT should current tax money not go to pay current services.

It is almost like...the government pays its bills out of current revenues plus borrowing. Who knew?

There is a name for people who point out that SS has NEGLIGIBLE real reserves and will shortly go BANKRUPT but don't point out that those statements are also true for virtually all levels of government. They are called flim-flam artists who are trying to the screw the working class out of promised benefits they have been paying for their entire working careers.
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