All of the years we had surpluses for social security, disability insurance, Hospital Part A and B that were transferred into IOU's while the actual money was spent on government projects isn't going to work when we need to redeem.
It requires a healthy economy with low unemployment to generate surpluses while a poor economy with high unemployment is when we need to redeem those IOU's because that is when expenses exceed revenue.
The government cannot possibly guarantee those treasury bonds when there is not enough cash to cover them when we need them.
It requires a healthy economy with low unemployment to generate surpluses while a poor economy with high unemployment is when we need to redeem those IOU's because that is when expenses exceed revenue.
The government cannot possibly guarantee those treasury bonds when there is not enough cash to cover them when we need them.
