Social Security: Why would the checks stop?

[Kidlicious]

There are no IOUs and instead they are Treasury Bonds which, yes, are the very definition of the National Debt and so is counted.

Then why are they selling real bonds to redeem them?.

[Lorizael]

The only difference with Gore in charge is that the US would've invaded Iraq looking for ManBearPig rather than WMDs.

I'd put better odds on us finding ManBearPig than WMDs.

[OzzyKP]

Wouldn't be so sure about that. Clinton bombed the **** out of Iraq during his presidency and 9/11 made people on both sides of the aisle crazy.

But since there was no real connection between Iraq and 9/11, Gore (or McCain or any other potential president of either party) wouldn't have gone into Iraq. Afghanistan yes, but not Iraq. That was entirely the doing of Bush's neo-con advisors.

[Hauldren Collider]

The only difference with Gore in charge is that the US would've invaded Iraq looking for ManBearPig rather than WMDs.

South Park

[Hauldren Collider]

But since there was no real connection between Iraq and 9/11, Gore (or McCain or any other potential president of either party) wouldn't have gone into Iraq. Afghanistan yes, but not Iraq. That was entirely the doing of Bush's neo-con advisors.

McCain absolutely would have gone into Iraq. McCain thinks we belong in Libya. And Al Gore's vice president was Joe Lieberman. I think Gore would have charted a fairly similar foreign policy course, except he would also have been an environmentalist loon.

[giblets]

Why would getting elected turn him into a loon?

[Tupac Shakur]

I'd put better odds on us finding ManBearPig than WMDs.

They actually did find WMDs, just not many and not nukular.

Why would getting elected turn him into a loon?

This. Not getting elected is what turned Gore into a loon.

[Dinner]

Then why are they selling real bonds to redeem them?.

I have no idea what you are talking about.

[Kidlicious]

I have no idea what you are talking about.

I think you don't know what makes something an asset.

[Dinner]

I do know that there are no IOUs in the social security trust fund unless you consider a Treasury Bond to be an IOU. Legally all the SSTF must be invested into T-Bills.

[giblets]

How is a bond not an "IOU"?

[Dinner]

You want to see how clownish the Republican "this couldn't possibly cause a default" position is? Watch this video:

Visit msnbc.com for breaking news, world news, and news about the economy

But I guess the US Treasury is wrong when they warn about the possibility of default as are the President of the US, the House Minority Leader, the Senate Majority leader, Moody's rating agency, the US Chamber of Commerce, and most of the large banks & financial institutions in the country.

[Dinner]

How is a bond not an "IOU"?

It's a bit more complicated in that it spells out interest rates, principle, lists a maturity time, and other such stuff. In short it's a more complex financial instrument then just a simple IOU especially since everything is regulated and defined by law while an IOU is not.

[Dinner]

Hell, even Mitch McConnell, who is part of the Republican leadership, admits that default is a very real possibility and that this is a political problem and not an economic problem. These dirt bags are either more interested in playing political games without regard to how it could destroy the US economy or they are deliberately trying to destroy the national economy. Either way they deserve to be shot for such crimes or incompetence.

[Ben Kenobi]

If bond holders are first in line to collect the 60% of funds still supported by taxes (and they are, no way around that), how does that turn into Social Security checks not showing up?

Obama's already screwed bondsholders before. Remember the GM bankruptcy? He doesn't care about what the law says.