>if the dollar was devalued sharply? Just humor me, 'k?
Depends on lots of other things. If there were major capital flight, the stock market collapsed and interest rates spiked, the U.S. economy would hit a wall, and unemployment would skyrocket. SS, like the rest of the budget, would take a hard hit. But if it were a gentle adjustment, it probably wouldn't have much effect. Higher inflation, which could result from a dollar decline, would actually be good for SS.
Doug