wrung dry a long time ago. We have been on a pay as you go basis for decades....the only thing keeping it afloat is the fact that until last year there was more money coming in monthly that there was going out. We were screwed years ago and neither party has done a thing about it...but the Dems made it all happen. Bruce Krasting Posts Comments About Me Bruce Krasting Westchester, NY United States I worked on Wall Street for twenty five years. This blog is my take on the financial issues of the day. I was an FX trader during the early days of the 'snake' and the EMS. Derivatives on currencies were new then. I was part of that. That was with Citi. Later I worked for Drexel and got to understand a bit about balance sheet structure and corporate bonds from Mike Milken. I was involved with a Macro hedge fund later. That worked out all right, but it is not an easy road. There was one tough week and I thought, "Maybe I should do something else for a year or two." That was fifteen years ago. I love the markets. How they weave together. For twenty five years I woke up thinking, "What am I going to do today to make some money in the market". I don't do that any longer. But I miss it.