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To: AC Flyer who wrote (21630)	7/25/2002 2:39:13 AM
From: Don Lloyd	Read Replies (2) \| Respond to of 74559

AC, ...There is no social security trust fund in the sense that there is no money set aside with the names of individual taxpayers attached to it. ... This is an understatement. There is no social security trust fund in any sense that contains any meaningful economic assets whatever, independent of names. Nothing in the trust fund can reduce possible future requirements as may occur for new taxes, new borrowing or reduced benefits. No future shortfalls would be affected one iota either way if the trust fund were emptied completely, or if its contents were multiplied a thousand fold. No one has ever gotten rich by writing IOUs to himself. Regards, Don

To: AC Flyer who wrote (21630)	7/25/2002 6:48:56 AM
From: Snowshoe	Read Replies (2) \| Respond to of 74559

The reality is that the so-called social security crisis disappears with a stroke of a pen by making very minor changes in the various underlying assumptions regarding the inflation rate, economic growth rate, starting age of eligibility for social security, etc. True. All the government has to do is fudge the CPI/GDP stats and raise the retirement age. Presto, the problem is solved! Far from there being a crisis, the US is better positioned to support its retirees in 2020 than almost any other developed country, due to its relatively youthful demographics and more importantly to ongoing immigration. Yes, we can always rely on an ever-increasing cohort of youngsters to pay for retirement of the previous generation. This brilliant idea was invented by a guy named Ponzi. The USA has an infinite supply of resources so we can do this forever.

To: AC Flyer who wrote (21630)	7/25/2002 4:03:06 PM
From: RealMuLan	Read Replies (2) \| Respond to of 74559

First, I think most of educated people already know there is NO real money in the social security fund, just a bunch of IOUs. Second, are you telling me that the population cohort who is going to contribute to social security fund in 2020 will be as big as the cohort who will withdraw from the fund?? that is NOT what the US population pyramid shows. Unless the US increases its immigrants by a large margin, this will never happen. As a matter of fact, the social security fund will not be able to meet the baby boomer's need a couple of year before 2020.