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The New DU. Reply #6: SS not only doesn't contribute to the debt, it is the largest creditor
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tularetom
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Sun Jul-31-11 04:09 PM
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| 6. SS not only doesn't contribute to the debt, it is the largest creditor |
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The SS holds more government debt than any individual, financial institution, or foreign government or central bank.
The government has been borrowing money from SS for decades and securing that debt with government bonds.
SS is solvent now and for the foreseeable future but the SS trust fund is one of the creditors that will get stiffed if the government is allowed to default on its debt.
As usual gregory has his head up his ass. The real tragedy is that neither McCaskill nor Plouffe called him on it.
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