Tell the Chinese or Warren Buffet that some of their holdings are mere IOUs. The IOU angle is propaganda nonsense put out by the privatizers--all bonds are paid back by future tax payers. Treasury Bonds are still the safest investment around. I've seen a proposal from Peter Diamond and Peter Orszag that, according to the CBO, will fix SS permanently through modest tax increases. My proposal would be to reverse Bush's irresponsible tax cut or restore the Estate tax to fund the notes.Originally Posted by Mr_Snafu
I don't agree with you that SS should have been cut. I like SS and the helping hand it offers to the least of our country.