In article ,
 Josh Hill  wrote:

>
> Restructuring isn't the same as going bankrupt. The Federal Government
> can't go bankrupt, given that it prints the money, and foreign debts
> are denominated in dollars. Rather, think the Moynihan Social Security
> fix of the Reagan era. A big yawn, really. The pols were forced to fix
> things, they bit the bullet and did it.

   Restructuring to AVOID bankruptcy. About the ONLY dumb thing the 
brilliant, lovely and talented Mr. Moynihan said during his time on this 
planet was that they had put the SS System on an actuarially sound 
basis. 
    Systems research shows us that for any system (be it animal, 
government, etc) to remain viable there must be inputs (resources, 
energy, whatever you want to call it) from outside the system. 
Otherwise, the system atrophies and dies. 
      What they did was increase the tax so they had a "surplus" but 
then required it be placed in NON-marketable government bonds. So when 
they came due, the government has to come up not only with the original 
deposit but the interest too.  Yet there was no way to finance this put 
out. "Magic Money" 
       I figured it up in 2000 at the rate of interest being paid then 
for fed funds, every dollar I "contributed" that year, there will need 
to be over $1.50 ADDITIONAL by the time I finally get around to 
retiring.   So where are they going to get that money. Raise taxes? Cut 
benefits? Inflate us out of it? Cut programs? 
    Plus they managed (and continue to manage) to hide the real deficit 
and pretend there were a few years of surplus. (All that by pretending a 
long-term liability (the bonds) were a short-term asset). If you fold 
back in the pending liability for SS, you lose all but one year of the 
surplus. If you fold back in similar bookkeeping shenanigans for MCare, 
it falls apart completely.) 
  Before the Clintonistas go off on me, I freely admit that we a 
beneficiary of this bookkeping fraud from the mid-80s and NOT an 
instigator. 


> 
> As for government and the health care system, I can only judge by the
> experience of every industrial country except ours. They have one or
> another form of universal coverage. They also pay half of what we do
> per capita, for which they get universal care, longer life expectancy
> and lower infant mortality. People from those countries think we're
> nuts. Given the facts, I find it hard to disagree.
    You and I have had the discussion about why I think the life 
expectancy and certainly the infant mortality rate comparisons are 
bogus. I'll leave it at that and go see if I won the lottery so I can 
finally fund a good study of how societal influences outside the 
confines of medicine's purview impact on these. (g).

-- 
To find that place where the rats don't race
and the phones don't ring at all. 
If once, you've slept on an island.
    Scott Kirby "If once you've slept on an island"
--- SBBSecho 2.12-Win32