[lbo-talk] Krugman: The Zombies Who Ate Alan Simpson's Brain

[Max Sawicky]

Granted repayment or default on the bonds is a political matter, hence
'money of the mind,' but as Daniel Moynihan said in one of his infrequent
spasms of lucidity, if people believe the Trust Fund is meaningless and the
program broken, it's easier to take it away.

Ergo dogging the Trust Fund is unhelpful.

On Wed, Jun 23, 2010 at 11:38 AM, Doug Henwood <dhenwood at panix.com> wrote:


>
> On Jun 23, 2010, at 9:35 AM, Shane Mage wrote:
>
>  And in what way does that make T-Bonds in the trust fund any different
>> from all other T-Bonds that come due for redemption?
>>
>
> A private holder can sell a bond to someone else for cash. The Treasury
> can't sell one to itself for cash.
>
> Doug
>
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