The Trust Fund Lives

Jordan Hayes jmhayes at
Fri Jul 31 17:37:57 PDT 1998

Doug Henwood wrote:

> What makes you think the U.S. government couldn't
> raise, say, $300 billion on short notice?

I didn't say (or mean) "couldn't" -- I said (and meant) "wouldn't" ...

I never said I *liked* it this way, just that I think it's unrealistic to think that it isn't that way.

> What do you mean the trust fund won't get paid back ...

I think something will take its place before it can/will ever get worked out. That is: my bet is that the accounting that is done on paper will never get reconciled with reality. I believe this decision was made a long time ago and is not even in the realm of possibilites.


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