To be fair, Kerry did propose some changes to Social Security some months back.
Less than a drop in the bucket, however.
It will take trillions -- $10-26 trillion, to make SS solvent. Kerry's proposal to reduce the benefits of those who are "wealthy" really is not a serious proposal at all, and in fact, can ONLY be classified as campaign Bull. It literally doesn't matter. It is LESS THAN IMMATERIAL.
Even Bush's plan will require a huge amount of "bridge" financing. If, somehow, we could get the average earnings rate up to 5 or 6%, and get 50-100 years' growth at those rates, there is a chance of rehabilitating the program. Otherwise, your children and mine are going to be working to support old people and unable to save anything for themselves.
If aggressive action is not taken now, SS will be remembered in history as the social program that took America down. It exemplifies what is wrong with liberal social programs. When they are broken they can't be fixed because of politics. Today, we have the Dems using the fears of the elderly as a political weapon, with the end result being it is impossible to solve the problem. I have hopes that a lame duck Bush can do it. But unless all the Republicans in Congress are lame ducks, too, I don't know. |
