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Politics : Formerly About Advanced Micro Devices
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To: Alighieri who wrote (688851)12/17/2012 5:38:17 PM
From: i-node  Read Replies (1) of 1574126
 
>> But look SS is not in such bad shape...the worst case scenario benefits get cut by 25% and it lives on...the problem is MC isn't it?

SS is in HORRIBLE shape. The present value of its unfunded liability (i.e., that amount that would have to be deposited TODAY to meet its obligations) was nearly $9 Trillion the end of its last fiscal year. It has approximately 2.7 Trillion in cash equivalents today (predominantly US Treasuries). This would be used up in three years if future retirees weren't paying for current retiree's benefits (with 10k net new retirees daily) -- that's additional borrowing (from someone) the US government has to do or the Fed has to create. Obviously, as future generations retire and there is ZERO money to start with, the cash crisis would worsen.

Would YOU support a 25% cut today, across the board?? If you do, you're the first liberal I've heard of that would even consider it. Our current president is certainly opposing ANY cut -- which only serves to make the problem far bigger down the road. It will not be cut one nickel under Obama.

Yes, Medicare is a far bigger problem, with more like $60 Trillion in unfunded liabilities. And it was made even worse by Obamacare.

Both programs are destined to collapse, and those who depend on them ultimately will have to get by without them. I know YOU can afford that, but I know a lot of people who cannot. Dumping 30 million additional health care dependents into the system just makes it that much worse.

That Medicare has come to this in the course of only 50 years is astounding. You can't just have the government take over half a 2.5 Trillion health care economy and not expect this kind of disaster.
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