an ongoing discussion

[Samantha]

82. Geitner said exactly that in an interview on cable

It was difficult to sell at this time government bonds and that as funds are withdrawn from the Social Security Trust Fund, they would have to be replaced by selling a like amount in bonds.

When the generated surplus monies were as governed by law diverted to that trust fund, bonds were issued as IOU's. The literal dollars were spent by the government. When George W. Bush left office, he had 10.5 Trillion Dollars in debt kept off the general ledger. The public never even realized this until when President Obama announced shortly after he was elected, that he was moving that amount onto the general ledger so all of the American people would know where things stood. Part of the reason our deficit has grown so much is because of the interest on that debt.

The U.S. Government has also borrowed funds from the Government Employees Pension Plan. The first time I knew about this was when it was publicly announced we would do this following 9/11. I called my brother and told him. He recently retired from the State Department. Another time I heard we would do this when we hit another economic calamity -- it might have been one of those times when Republicans refused to raise the debt ceiling.

I do not know if these funds have yet been restored, but I do know I chronically hear government employees' pensions are too high -- just as we heard today Social Security payments are too high. Do you really think that is a coincidence?

Sam