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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (217859)2/7/2005 9:08:35 PM
From: TimF  Read Replies (1) of 1586424
 
re: In any whether social security goes in to a protracted deficit and spends all the trust fund money or not really isn't an issue. Too much will be spent on it whether or not the trust fund becomes exhausted.

I don't think the public shares this view. If we could continue the current program without "going broke" as Bush claims, most people would support that.

I'll make one change to my statement. "Whether social security goes in to a protracted deficit and spends all the trust fund money or not really is only an issue for political rhetoric. It isn't a substantial issue for the viability of the program.

If you tell people "the social security system will not go broke" I suspect many people will say "great" and either won't care much about reform or even oppose it (assuming they believe your statement). If however you tell them that taxes will have to be raised to continue social security, and give them some idea of how high they will have to be raised if we do not change benefits in any way, then you will probably only get support for the status quo from a minority of those not in or nearing retirement.

I'd like to see some personal account system. I think it is a good idea, but what is more important in the long run is to contain the cost. If we have to ditch the private accounts in order to create some retirement age indexing or other change to contain costs I might support the trade off.

Tim
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