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January 20, 2005


"Calling the system "bankrupt" and saying "it cannot fulfill the scheduled benefits" clearly implies that no benefits will be paid out."

This is ignorant nonsense. When a business or an individual declares bankruptcy, it doesn't mean they have zero assets. It means they don't have enough income to cover expenses. The Social Security System will not be taking in enough money to cover its obligations, so saying it's "bankrupt" at that point is legitimate.

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