Originally Posted by Diesel66 
No we have until 2012 to fix it, that is when the inflow isnt enough to pay the bills and they have to collect the IOUs.
2042 is when the IOUs run out and they are completely screwed.
Nevermind the only way to pay off the IOUs is either raise regular taxes, cut govt funding or just put them all on bonds
Thorgrim is right on this one, IOU's are 100% worthless. The fact is since the government has repeatedly borrowed from SS it will run out of money as soon as 2023 or possibly as far down the road as 2030 depending on government spending/saving between now and then. If the IOU's were paid back you're right we'd go to 2041 but guess what that money isn't there and the government isn't paying it back.
11-12-2006, 01:05 PM
