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Politics : Formerly About Advanced Micro Devices

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To: Alighieri who wrote (361127)	12/13/2007 4:57:01 PM
From: TimF	Read Replies (1) of 1577999

A 25% reduction extends SS solvency beyond 2070. A 25% reduction is rather major and politically very different. SS is NOT "bankrupt" as bush and the republicans would have you believe. Not in the sense of having to (or even will have to) file for bankruptcy, but in the more general sense of not having enough funds to cover its obligations it is. Being able to change the law so that its obligations are reduced and/or its assets are increased doesn't mean that under current law it really isn't solvent. But really I don't think that is the issue, and if it was it would be easy to fix. Since the feds are both the debtor and the creditor for the "trust fund", the amount in the fund can be manipulated upwards or downwards with little in the way of real world consequences (its similar to me moving money between my checking account and my savings account). The problem is not the "solvency of the trust fund", its how much we are going to have to spend in the future to meet current promises. To the extent that we change what we promise the problem can indeed be resolved, but politically its a minefield.

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