Who is going to invest in Bush's IOUs?

Remember the headline Bush: Social Security trust fund `just IOUs'

It was announced today that 30-year Treasury bonds make a comeback

It will be interesting to see who is going to invest in "these IOUs".

Remember the headline Bush: Social Security trust fund `just IOUs'

In April of this year pResident Bush used a four-drawer filing cabinet stuffed with paper representing government IOUs that he said symbolized the Social Security trust fund's bleak outlook for meeting Americans' future retirement needs.

It was announced today that 30-year Treasury bonds make a comeback

The Bush administration said Wednesday that it will bring back 30-year Treasury bonds next year, a move that will help finance the national debt and should appeal to investors looking for a safe, longer-term investment option in their portfolios.

Bush said on that occasion in April:

"There is no trust `fund' -- just IOUs that I saw firsthand," Bush said.

It will be interesting to see which foolish Government is going to invest in "these 30-year Treasury bond IOUs" which are, after all, just "pieces of paper" which will also be stuffed in drawers!