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Politics : Sharks in the Septic Tank -- Ignore unavailable to you. Want to Upgrade?

To: Don Hurst who wrote (21275)	8/9/2001 7:33:44 PM
From: TimF	Read Replies (1) \| Respond to of 82486

Then how will the Social Security Trust Fund ever go "broke"? As an accounting measure it will be broke in about 2035 (only an estimate thats to far in the future to get an exact date) when all of the "trust fund" bonds have been paid back. But that is just an accounting gimmick any way. Long before 2035 (probably in 2017 or so) the social security taxes will no longer pay for social security. Social Security is not a seperate entity from the government the government doesn't really pay itself back from some trust fund esp. since it is a net debtor. It will use future tax money to pay for future benefits. If the spending in non social security areas continues to grow at the rate it has been lately then we are in for some vicious taxes. These taxes could be politically unacceptable (except for the fact the the elderly vote a lot and there will be more of them depending on our taxes then) or they may be enough to really hurt the economy and screw us up for a decades... Tim