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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (224487)3/16/2005 7:50:55 PM
From: i-node  Read Replies (1) of 1572769
 
>> Are you for pay as you go on the added $4Trillion?

As I pointed out here years ago (before you or anyone else was discussing it), bridge financing is required. But I would be in favor of a reasonable amortization of the debt (which might involve 50 years or more).

If you were to put SS before a bankruptcy judge, as in a chapter 11, he would require you to present an actuarily sound, ACCRUAL BASIS plan, to allow you out of chapter 11. You would have to show proof of viability, and you can't show that about SS with its current structure. You would be required to restructure the financing for its existence into perpetuity. You can't do that with tax increases or benefit cuts.

You can do it with an appropriate financing plan accompanied by private accounts capable of earning higher returns. The only hope the system has is to get some of this money invested long-term (50+ years) at 7% instaed of 3%. If you can do that, and you get a sustained population rate decline, there is a chance.
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