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TB"Every administration since Johnson has taken $$$ out of the S.S. trust for other than what S.S. intended for. And place withdrawls with worthless IOUs."


The IOUs are not worthless as long as the government can borrow untold MORE trillions of dollars to redeem them.


That's the problem.....

And once you start 'redeeming' those IOUs to pay the SS benefits.....you either run up horrific debts...say quickly to 30 trillion or 50 trillion dollars....but if interest rates rise, your interest you have to pay on the national debt (not even repayment) will eat up 20-30% of the entire tax take each year....!....meaning you'll cut entitlement programs by 80%....

the system will collapse at that point.

That is only 5-8 years out....

Unless you increases taxes on the average person by 20% a year.....say a sneaky 'Value Added Tax' or National Sales tax of , say 10%? (which will quickly rise to 20% within ten years)....



t.
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