Soft privatization

[John K. Taber]

Jordan Hayes wrote:
> 
> Seth Ackerman wrote:
> 
> > I can accept that there might be undesirable consequences
> > from pouring billions into the stock market, and that ...
> 
> what i can't understand is why people think there's some
> pile of money out there that's presently _not_ being invested
> somewhere.  i mean, they call it a 'trust fund' but it isn't
> really in any sense an actual fund, right?  fica payments go into
> the treasury and the treasury makes payments to current recipients.
> 
> what trust fund?
> 
> /jordan

Are you serious, "what trust fund"? It's about 63x billion (637 
billion is in my mind, but I don't remember the exact figure) right
now.

Do you mean that SSA does not have 63x billion in dollar bills stuffed
in its mattress? 

I happen to own treasuries, just like SSA does, except that SSA's
are better than mine. Just like the SSA I don't have x dollars in
my mattress. Instead I have a valuable asset. So does the SSA.

Sheesh! Doug, set him straight.