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Reply #61: Have you looked into the "math" when boomers start retiring? [View All]

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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
googly Donating Member (801 posts) Send PM | Profile | Ignore Fri Feb-11-05 03:13 PM
Response to Reply #13
61. Have you looked into the "math" when boomers start retiring?
The treasury will need hundreds of BILLIONS to repay all those
T-Bonds cluttering drawers in Social Security Admin. Where will
all of that cash suddenly materialize? Borrow more? Huge tax
increases? You know very well both will be very difficult.

And IMO, internal default of Treasury to repay SSA will not
hugely affect external sales of T-bonds so long as no default
occurs there. As an example, if one division of GM defaults
to another division, GM corporates still sell very well in the
market place.

So, what is wrong with stopping the spending of current SS surplus
and channel it into an arrangement exactly similar to the current
federal employees retirement fund, which has been returning far
better returns than the Social Security?
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