[Truth29]

Actually, there is another source of funds. Look at the scheme that Barny Frank and some academics are floating to effectively nationalize the private pensions in the form of 401(k)s. They would offer an inducement in the form of a government guarantee and recognition of balances as of last August in exchange for giving control to FedGov. This would provide access to something like 3 - 4.5 trillion in funds and could probably used like the Social Security funds to disguise the deficit.

[screaminsunshine]

At this point there is nothing that would surprise me.

[Thermalseeker]

Actually, there is another source of funds.

I always find it amusing that NOBODY in gubmint ever even considers cutting spending. There is PLENTY of room to cut waste from the Federal budget and get our fiscal house in order. There is PLENTY of room to reform our confiscatory tax policies and bring most, if not all, of the corporate wealth that has been driven off shore back home, while at the same time stuffing gubmint coffers. Instead, all the serfs will be made to suffer while our "leaders" continue to bask in the luxury of their offices, meanwhile raping us (and our Treasury) with each passing day....

[rabscuttle385]

Look at the scheme that Barny Frank and some academics are floating to effectively nationalize the private pensions in the form of 401(k)s. They would offer an inducement in the form of a government guarantee and recognition of balances as of last August in exchange for giving control to FedGov. This would provide access to something like 3 - 4.5 trillion in funds and could probably used like the Social Security funds to disguise the deficit.

That's a fast way to destroy the financial markets...and bring them all the way to zero. Those trillions in 401(k) accounts are largely invested in the markets, not in "special" or otherwise government obligations.