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Politics : The Castle
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To: MSI who wrote (181)11/9/2002 1:51:59 PM
From: TimF  Read Replies (1) of 7936
 
Social Security is an entitlement which means the payouts are required by law. Of course Congress can change the laws so in that sense there is no guarantee but it would politically be difficult to do more then nibble at the margins of social security at least if it was not facing immediate collapse. But at some point it might face collapse and then we have a big mess to deal with.

I do agree with your point about how the money is comming from current revenuee, and that it doesn't operate like insurance is normally supposed to.

Privatization has the attraction of the illusion of "keeping" the money.

It doesn't have to be an illusion.

Unfortunately, this administration has zero financial credibility

I would not rate its fiscal record very highly but it is not unusally bad when measured against the low standards of administrations in my life time (I was born in 68)

The past 25 years the Democrats have been the party of fiscal responsibility in government

The Democrats increase spending and taxes and then the Republicans decrease the taxes without decreaseing the spending. I know that is simplistic and not entirely accurate but it covers the basic trend. That is in terms of administrations, but what is perhaps more important is who controls congress. Generally when congress is controled by Repbulicans there is more fiscal discipline. This is esp. true when you consider new expensive programs to be a case of lack of fiscal discipline, even if there is enough funds to pay for there current need at the time when they are enacted without going into deficit (or increaseing deficit spending)

Tim
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