CNN poll: Majority say they don't count on Social Security

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Originally Posted by Nbadan

:lmao

What exactly is going to happen to the trillions of dollars worth of Security bills sitting in govt. savings funds? Are they going to just disappear? You wing-nut crack me up.

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They won't disappear. They'll be transformed from savings bonds into trillions of dollars worth of new defecit as the treasury will have to go borrow money to pay back social security the money they borrowed.

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Originally Posted by Nbadan

What you wing-nuts don't understand is that money from Social Security is not isolated from all other money...if the U.S. defaults on its treasury obligations, which with only about $250 billion per year in net debt, or money leaving the system, I don't know why it would....but if it did, all money would be worthless.....your 401K, your IRA, your savings....

GONE!

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The treasury isn't going to default. We can all rest assured that when it becomes necessary to raise taxes and cut welfare so that chinese banks can keep getting their interest payments on time that Uncle Sam will be up to the task.

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Originally Posted by Nbadan

Let's talk this out....how are people going to conduct international transactions with no valued currency and a default credit rating?

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This part would be good. It would make it viable for new growth businesses in America once overseas products are more expensive.

America is too big to fail. It will never happen.

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Originally Posted by DMX7

America is too big to fail. It will never happen.

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But who's going to give us a bailout when that happens?

Will China then own 60% of us?

Ever watch Firefly?

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Originally Posted by Wild Cobra

But who's going to give us a bailout when that happens?

Will China then own 60% of us?

Ever watch Firefly?

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If America needs a bailout, an endless series of things will probably have to happen but the world will make sure that it does because it has too much invested in America.

The bailout won't come from just one country or group of countries, it will come, ironically, from the private sector as well.