Thursday, February 10, 2005

Is pretending that the Social Security Trust Fund doesn't exist constitutional?

This question was raised by a poster at Democratic Underground, and it's worth considering. The 14th Ammendment to the Constitution, fourth section, states, in part, "The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned."

What do you think? Does saying that the Social Security Trust Fund, held in Government Securities, not exist? Is that the same thing as questioning the public debt?

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