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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (214651)1/11/2005 2:54:25 PM
From: RetiredNow  Read Replies (2) of 1572726
 
Again, John, let's stick to the SS debate. I agree we have hundreds of other issues we could debate the merits of. For instance, if Bush said, I'll either fix SS or I'll get us ME oil independent. I'd choose oil-independence.

Having said that, this is a debate about SS. So your solution is not a bad idea. At least you recognize that SS will go bankrupt without some fix. But the facts as stated by SSA on their website is that by 2018, they'll run a cash deficit. By 2042, they will run out of assets to fund the deficit.

So your plan is good for pushing out the date and then maybe we can reduce taxes later with the echo boomers. It's not a bad idea. It would be interesting to see if the population growth forecasts support such a model.

One thing, though, you model fixes the current system to allow it to provide a poverty level income to the beneficiary. What I'd also like to do is go above and beyond just fixing the current system. Instead, I'd like to introduce transformational change to make it the best system in the world. The way I believe we can do this is by applying modern financial planning concepts such as risk, horizon, and market returns to the equation.

Any financial planner will tell you that T-Bills are a decent investment for retired people, but they are piss poor for someone who has a 10 year or longer horizon.
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