President Barack Obama Message Board

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Politics : President Barack Obama

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To: Wharf Rat who wrote (121149)	9/19/2012 2:07:15 PM
From: Tenchusatsu	Read Replies (4) of 149317

WR, do you realize where the "interest" comes from? The government lends money to itself and promises to pay itself back "with interest." Meanwhile the government continues borrowing more and more money by the trillions. Goodbye AAA credit rating. By the way, the current beneficiaries are getting much more than they put in, even when interest is accounted for. That's because they were never expected to live as long as they are now. The default remedies when the SS "trust fund" runs dry is to either raise payroll taxes by 33%, cut benefits by 25%, reduce the number of beneficiaries (e.g. raise the retirement age), or a combination of all three. The year when that is expected to occur is now 2033, which is pulled in from the original estimate of 2041. But I'm sure you don't give a fsck as long as you're dead before that time comes. Tenchusatsu

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