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Politics : Formerly About Advanced Micro Devices

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To: i-node who wrote (180920)	1/19/2004 9:18:00 AM
From: Alighieri	Read Replies (2) of 1574854

No, it hasn't -- not if you apply any reasonable accounting standards to SS -- the SS deficit is HUGE if we required it, as we do private pension funds, to accrue the unfunded liability for benefits actuarily required to be paid to current employees. Yes...by GAAP standards, SS reaches period deficit in some 20 years. So what does a responsible governance do? For 8 years Clinton endeavored to come into line with the SS measures of 1983, which were completely ignored by two republican administrations (well, 1.5 anyway), during which period borrowed and spent the resulting period expense surpluses...bush comes in and has gutted the coffers, squandered evey penny on crony measures, and has put us into a much steeper tail spin. So what's the plan? Gut the thing and let someone else worry about it? Partly. The real plan is to bankrupt it,..drive it to a crisis sooner than it would on its own, and screw the millions of old people who are counting on it. Now he proposes to allow personal savings accouts, which, presumably promise to take even more money away from the fund's liabilities...I guess people get what they deserve for voting these crooks into office. Al

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