Gene Lyons

[mooseandsquirrel]

Just read it

http://moose-and-squirrel.com/gene/gene.html

[DeepGreen]

1. Good Article ! nt

[kentuck]

2. The Government IOU's are worthless....?

http://www.nwanews.com/story.php?paper=adg§ion=Editorial&storyid=102652

<snip>
But here’s the problem, according to Allen W. Smith, author of "The Looting of Social Security":" Instead of investing the Social Security surpluses in regular marketable Treasury bonds that could be cashed in whenever additional money was needed for benefits, the government simply spent the money, leaving nothing to invest. The government IOUs held by the trust fund are not at all like regular marketable Treasury bonds.... hey are nothing more than accounting entries that tell us how much the government owes to the Social Security fund. They couldn’t be sold to private investors even at a penny on the dollar because they have absolutely no cash value. "

[SharonAnn]

3. Right, they'll repay foreigners and the wealthy, but not U.S. workers

The obligations are not worthless, they're back by the full faith and credit of the United States. If our legislators decide to pass legislation that refuses to honor them, then I suggest we begin the revolution because the United States would deserve no faith and credit any longer.

It's hard to imagine that the American people would approve that all obligations will be fulfilled, except those to american workers.

Would that mean we couldn't renege on obligations to the wealthy, or as Al Franken says "the most productive members of our society, the children of the wealthy"?

Only the U. S. workers would get screwed even though they're the ones who've been paying the taxes all these years. Corporations and the wealthy pay less and less, they take more and more, and yet they should be protected and the poor taxpayer, the working person should be left destitute.

Is this compassionate conservatism?