Obama putting politics over fiscal responsibility with GM...

[CosmicCowboy]

SS is not a Ponzi scheme. That's the phrase Wall St has the Repugs and you people parroting as Wall St comes after SS.

You just can't fix stupid.

[coyotes_geek]

SS is not a Ponzi scheme. That's the phrase Wall St has the Repugs and you people parroting as Wall St comes after SS.

Yeah right. It's not a ponzi scheme. It's just a system where money is taken from new participants and given to old participants, all in return for a wink and a nod that one day they'll get to be the old participant and there will be a new particpant who can give his money to them. Works just fine until you have too many old participants and not enough new ones.

Bernie Madoff shouldn't be in jail. He should be running the Social Security Administration.

[Wild Cobra]

It might. It's not like the government has the money to repay those bonds SS holds. They can either borrow money to repay borrowed money, or they can tell SS to eat it.

It indeed might, hence the probably lowering of the AAA rating.

[coyotes_geek]

It indeed might, hence the probably lowering of the AAA rating.

If it does come to that, it would be as an agreement between Treas & SSA to "forgive" the debt. It wouldn't be a default and wouldn't affect the rating.

[MannyIsGod]

then why was it done in the first place?........

Because we would have lost more otherwise? -50 may not be positive but its sure better than -150.

[Nbadan]

For those of you concerned about the debt....

Has the U.S. ever missed an interest payment?

and

What is the net interest on the debt?