Friday, July 29, 2011

Brief note on Social Security checks

TOC noted that normal SS payments can continue to be made from general revenue without raising the debt ceiling, and, should the president decide not to continue normal payments, there is a 2.6 trillion dollar stash in the Social Security 'Trust' Fund.

Cashing in the bonds held by the 'Trust' Fund does not increase US indebtedness. Not to cash the bonds would be another political choice.

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