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Politics : Formerly About Advanced Micro Devices

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To: Joe NYC who wrote (211695)	11/14/2004 6:24:06 AM
From: Road Walker	Read Replies (2) of 1573333

re: It is hard to talk about deficit or surplus in a pyramid scheme. When a country has been caught in the middle of a pyramid scheme, there is going to be plenty of pain sooner or later, when it collapses. "Pyramid scheme" is a cute negative phrase, but doesn't describe SS. Sometimes (as now) it is over-funded, sometimes it is under-funded, depending on demographics. A step that leads from unfunded pyramid scheme to a fully funded pension system is a sound strategy, no matter what the transition costs are. "Unfunded"? More exaggeration, of course. I read somewhere that it would take dumping less than 1/3 of the Bush tax cuts, if they were targeted to SS, to "fix" the system. And how does the Bush proposal "fix" the "pyramid scheme"? Presumably 80% of funds would still go into SS and benefits would be reduced by 20%. Plus you add a few $Trillion (with a "T") to the national debt. We can't afford that, period. The dollar will be worthless, we'll be "Argentinaized". Actually the real worries are Medicare and Medicaid. John

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