"The Treasury will either have to pay off the T-bonds held by the SS Trust Fund using new taxes, money repurposed from elsewhere, or freshly borrowed. In any case, one branch of the gov can't lend to another in any meaningful way. The SS Trust Funds assets are pure money of the mind."
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With all the increased productivity of the working class (what is it, something like 2% a year?) and with real wages below what they were in 1964, should be a cinch: tax the wealth of those who own most of it to fulfill the government's full faith and credit. Of course, the polytricksters could balk at taxing their pals in the bourgeoisie; but that would be political suicide. The other option for the ruling class would be to remove the velvet glove of political democracy and enforce an open dictatorship of the capitalist class.
Mike B)
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