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Politics : Bill Clinton Scandal - SANITY CHECK
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To: Lizzie Tudor who wrote (13249)11/5/1998 9:24:00 PM
From: Les H  Read Replies (1) of 67261
 
I've heard Ralph Reed speak on social issues. What little I've heard him speak on financial issues doesn't encourage me about fixing the tax system. They need to first separate the Social Security system from the General Revenues in order that the issue of Social Security be dealt with honestly. What one finds is the system runs a surplus of $ 100 B where it is paying out $ 350 B in benefits. The other thing that's exposed is that the Federal Budget Deficit is bigger than $ 30 B since the Feds issue 2% non-marketable bonds to Social Security. If the Social Security were to get market returns of 4-5%, one would find Social Security is not in trouble but may be overfunded.

I don't know much will happen. There was a bipartisan commission on Entitlements in 1993, 1994, or 1995 that made recommendations. Clinton did nothing with that.

I think both sides are going to waiting for the other side to put up a proposal that can be used against them.
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