Prediction for America's next 4 years

You do understand it owns the debt and not creating it, in other words it's making money, so much money that it's buying treasury bonds to ensure it has money well into the future yeah? One day it will want that back, as the article points out, when the baby boomers who paid that money retire.

 

You do realize that it is a pyramid scheme in the best traditions of Ponzi, Madoff, etc., and that its unfunded liabilities only grow and grow. Typical socialist program in which Peter robs Paul to pay Mary and no one has enough to cover.

 

unfunded liabilities? Are you saying their money in the bank (treasury bonds) is a liability ?

 

I am saying that they do not have the assets, in Treasury bonds or otherwise, to cover the anticipated liabilities they have (i.e., monies that they are committed to paying out to retiring baby boomers over the next few decades) and that their prospects for getting those liabilities covered has only gotten worse with 95 million people having given up the search for jobs in the Obama economy. If a private pension fund had the numbers that the social security system has, they would be closed down.