[jyl]

OK, now you guys are wearing the tinfoil hats.

Do you seriously think the govt could, or would even try, "seizing" $9TR in individual 401Ks and IRAs in return for an IOU?

Have you thought through how voters would react to confiscation of their retirement savings? Have you thought through how the credit markets and buyers of govt bonds would react to an instant doubling of the national debt? Have you thought through how the stock and bond markets would react to $9TR of securities suddenly owned by the govt?

And have you thought through what the govt could actually do with $9TR of assorted securities? Can't pay bills with a stock certificate. The govt would have to convert that $9TR of securities into cash, which means selling $9TR of stocks and bonds. The total capitalization of the entire US stock market is appx $15TR. What happens when $9TR of selling pressure hits a $15TR market, and potential buyers have just had their accounts seized so exactly who is left to do the buying? That market declines 80%, 90%. So the govt then has about $1TR for its trouble.

This should take about 5 seconds to think through.

This tangent is a waste of time. Honestly, let's debate a tougher question, like whether the moon is made of cheese.