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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (217015)2/3/2005 7:13:43 AM
From: Road Walker  Read Replies (5) of 1571379
 
re: The unfunded liability is HUGE. We're not talking billions or even hundreds of billions. And over the next 30-40 years, if something isn't done, we're talking tens of trillions.

The unfunded liability looks huge in the aggregate, when you go out 70 years and multiply it times millions of recipients. That's a smokescreen. It's an incremental problem that requires a minor and incremental solution.

re: The really interesting part is what happens if you get compound interest at about 7% working on the problem now. 40-50 years from now, the problem starts to turn around. The difference between 3% and 7% 50-100 years out is astounding. This is why private accounts are an essential element of the solution.

The really interesting part is your assumption of 7% returns. Even the Bush admin is using ~4%. And there is the risk of negative returns.

The Bush plan doesn't do anything until 2009. THAT is a recipe for disaster. We need incremental change starting now.
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