i.p.freely
06.09.03, 20:40
Be wary of loaning money to your Uncle Sam.
Just ask Social Security, where the government has tapped the public nest
egg so deeply that they'll sink or swim together.
As this is written, Social Security (aka Sue) holds more than a trillion
dollars in IOUs from Uncle Sam (aka Sam). Social Security, still trusting
Uncle Sam, is currently telling its clients that its IOU collection (the
Social Security Trust fund) won't be exhausted until 2042.
The important date, however, isn't 2042. It's sometime between 2013 and
2018. That's when Social Security and Medicare will start to pay out more in
benefits than they collect in employment taxes. That's when Sue will go to
Sam and ask to redeem some IOUs.
Expect trouble.
moneycentral.msn.com/content/RetirementandWills/P60082.asp-------------------
Has G. Bush handled OUR MONEY well? Easy question. In my opinion NO!!!!!
Bill Clinton, hardly a wizard with a calculator, nevertheless managed four
surplusyears during his 8 years in the office.
Here comes Georgy-boy and what happens - we all know... We will have in fact
the biggest deficit in US history - $455 billion, in dollar terms, besting
the previous record of $290 billion. That was in 1992, when Bush senior had
the job.
Never let it be said that the son hasn't lived up to the accompishments of
the father.