Reply #49: Even while I oppose private accounts, THERE IS NO TRUST FUND.

[Zynx]

The "trust fund" has no assets. Its "assets" come in the form of bonds that have been issued to cover the deficit spending of the government for the past thirty+ years. Technically, the trust fund exists in the sense that the huge pile of IOUs that the government has built up are supposed to be financed by general government revenues, but because of Bush, it won't be.

However, their estimates of doom are still too severe because they underestimate both inflation and economic growth for the next thirty years, meaning that nominal economical growth will be significant enough to push the "doom date" for SS back for many many years.