azotic wrote:
"John R. Carroll" wrote in message
...

My Mom and I are watching Beck every evening. It's becoming a sort
of past time.
She actually records his and Smith's daily broadcasts so we can
watch it together.
LOL
A couple of days ago Beck displayed and then explained his "Debt
Clock". He got a bunch of stuff right and then at the end added that
the US had an unfunded liability of $75 Trillion dollars.
Yep, you guessed it - Social Security. I paused the playback and
explained how rediculous this was and also that it just isn't, and
couldn't be, true.
She got it right away, especially the part about either raising
taxes or reducing benefits to correct any imbalance.

OK, she's an MLS from Michigan State but if a woman in her 80's
suffering from the early symptoms of either senile dementia or
Ahlziemer'scan wrap her
head around the actual truth, anyone ought to be able to do the same.
Apparently, Glenn Beck, Wes and a huge percentage of the population
are unable to be as rational as my 80 something mother.

--
John R. Carroll


Just curious, did beck explain how he came up with $75 trillion
dollars ?

No.
He just attributed the shortfall to the unfunded portion of SS obligations.
The truth is that SS is funded in real time and he must certainly know that.

The excess beyond that amount can only be used to do one thing - buy
T-Bills.
The reasoning was to prevent the distortion of markets while hedging
against inflation and to do so with risk limited to the maximum extent
possible.

The issue is completely separate from deficit spending or deficits at all
for that matter.

--
John R. Carroll