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View Diary: "Your Social Security Check is in Danger" (14 comments)

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  •  SS shouldn't be at risk no matter what. (3+ / 0-)
    Recommended by:
    Upper West, jan4insight, cotterperson

    It's solvent for another decade and funded by debt, which can't be questioned / defaulted on.

    •  That's a different issue (6+ / 0-)

      the trust fund is solvent and projections are full until about 2033 and 75% after that.

      But the debt ceiling is day to day cash flow, which will involve prioritizing payments if no debt can be incurred.

      It's definitely accurate to say that payments are in jeopardy.

      The GOP: "You can always go to the Emergency Room."

      by Upper West on Wed Oct 09, 2013 at 09:52:33 AM PDT

      [ Parent ]

      •  right, we'd prioritize to make sure that debt (0+ / 0-)

        is paid.  The SS trust fund redeems its Treasury debt to cover cash flow shortfall.  Under a prioritization scheme, then, the SS trust fund gets paid first along with the other bondholders.

        •  I wouldn't be so sure. (2+ / 0-)
          Recommended by:
          wilderness voice, JerryNA

          Some Republicans have argued that social security trust bonds are "different" and don't have the same repayment priority.

          Apart from that, would it come ahead of paying defense needs?

          At the very least, there is a colorable claim that there is risk to social security payments and that risk should be used to mobilize support.

          Republicans are making insane arguments to support an insane act.  Not using any colorable argument to stop them is a dereliction of duty in a situation that imperils the country.  

          And in no way is it "stooping" to the other side's level.

          The GOP: "You can always go to the Emergency Room."

          by Upper West on Wed Oct 09, 2013 at 11:54:09 AM PDT

          [ Parent ]

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