Reply #159: Except that the budget owes the social security fund

[Yupster]

about I don't know a trillion dollars?

And people say the social security fund is fine because it has a trillion in government IOU's.

Well if the government can't pay it, you ain't getting it.

Just to give an example...

You have $ 400,000 in a fund that you have set aside calling it your retirement fund.

Now your useless brother in law borrows the $ 400,000 and gives you IOU's which you put in a lockbox.

Next your bropher in law goes to Vegas and bets the $ 400,000 on black.

Too bad.

Now someone asks you how your retirement looks and you say you're fine because you have these $ 400,000, now $ 475,000 because of interest worth of IOU's from your brother in law.

Meanwhile how's your brother in law doing?

He doesn't have a dime. He's hopelessly in debt and borrowing more money every month to pay his bills.

So do you have $ 475,000 in your retirement fund?

I'd say no, but if you want to go to your safe and show me the IOU's I guess you'd say yes, you're fine.