Doug Pensinger asked,
> Are you saying that the government should not be obligated to
> pay what they borrowed from Social Security?
And JDG responded with another question, which came across to me as a
rhetorical statement:
Why should it?
So my question is, are you suggesting that I should never be obligated
to pay back what I borrow from you?
Or are you suggesting that a government is intrinsically different
from any other debtor and that it should never be obligated to pay its
debts?
Is this latter suggestion a reason to favor social security
discussions over discussions of a vast borrowing by the current US
government for the general fund?
The latter is important because some of the people who lend to the US
want to be paid back. Of course, they may not care much about a
partial default if the cost to them of their loans is low, as is the
case with Red Chinese central bankers who add zeros to their computer
accounts. But some of the other lenders want to be paid back
principal plus interest.
However, my main question is whether you are a lender who feels I
should never feel obligated to pay back any part of a loan made by you
to me?
In addition, a secondary question is whether you think a government
should pay its debts or not?
And in any case, what do you think of lending to the US government
currently? Is it wise?
--
Robert J. Chassell
[EMAIL PROTECTED] GnuPG Key ID: 004B4AC8
http://www.rattlesnake.com http://www.teak.cc
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