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Technology Stocks : Intel Corporation (INTC)
INTC 39.36-0.1%Jan 5 3:59 PM EST
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To: Jim McMannis who wrote (172332)12/30/2002 5:07:16 PM
From: Win Smith   of 186894
 
Since the 1940s, significant shifts in birth rates and life expectancies have occurred. At the outset of Social Security, there were 16 workers paying into the system for every retiree drawing benefits. Today, the ratio is three workers for every retiree and by 2030 the ratio will fall to two workers per Social Security beneficiary, according to government estimates. At the same time, retirees are living longer than ever (average life expectancy now exceeds 75): This fact is a key reason why greater retirement resources are needed for current and future retirees. mackinac.org

Unfortunately, the official figures are all buried in random pdf's at www.ssa.gov. It's scary enough, but the privatization proposals are scarier. An amusing blast from the past:

The framework provides for transferring amounts equal to 62 percent of projected federal budget surpluses over the next 15 years—about $2.8 trillion--to the Social Security system. Except for a small investment in corporate equities, the framework uses this transfer to pay down the publicly held debt, strengthening our economy for the future. ssa.gov

Tee hee. How about those surpluses, eh? I'm sure W will come up with some comparably stupid scheme to dump money into Wall Street, and if we're really unlucky, it will go through.
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