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In reply to the discussion: Social Security heading for insolvency even faster [View all]ieoeja
(9,748 posts)42. Except that those bonds are not marketable.
Since the bonds held by SS can not be bought/sold on the open market, defaulting on them affects nobody except social security.
Once upon a time SS held the same bonds into which you and I could invest. They shifted it to special only-SS bonds in theory to guarantee better yields.
In doing so they made it possible to get rid of SS without impacting the market where the wealthy play. But I'm sure that was just a coincidence.
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Obama's "Deficit Commission" (Simpson-Bowles) recommended a $50,000 cut in lifetime benefits
MannyGoldstein
Apr 2012
#27
And wasn't that before Obama cooked up the 2% cut in Social Security taxes?
dflprincess
Apr 2012
#33
So appointing the two biggest foes of Social Security to run a "deficit commision"
MannyGoldstein
Apr 2012
#32
We simply need to raise the cap on SS funding, and eliminate the Reagan tax cuts.
grahamhgreen
Apr 2012
#30