Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (663042)	11/29/2004 5:02:25 PM
From: JDN	Read Replies (1) \| Respond to of 769670

I think he is confused about the definitions. As I recall after 2,018 or so the contributions IN will be less then the payments OUT but there are still those treasury bonds. jdn

To: DuckTapeSunroof who wrote (663042)	11/30/2004 5:33:29 PM
From: Kenneth V. McNutt	Read Replies (1) \| Respond to of 769670

socialsecurity.org try this for information. cato Institute. Lotsa info if Googled KM

To: DuckTapeSunroof who wrote (663042)	11/30/2004 5:36:34 PM
From: Kenneth V. McNutt	Respond to of 769670

socialsecurity.org Try this. Estimates are from the Trustees of the Social Security System. And, yes, I do know what I'm talking about. It doesn't require much brainpower(I at least qualify there) to understand when the income is insufficient to pay the promised benefits then the money to do so must come from somewhere and that somewhere will be the redemption of the bonds held by the SS System, an obligation of the US government, you and I. The money to redeem these bonds can only come from an increase in general taxes. Dispassionate actuarial investigation based on general assumptions of longevity of life and the number of new participants shows the all the bonds will be redeemed by 2042 and the system will be broke. Read the facts from above web site, Cato Institute using government and non partisan estimates. The dates will vary because of different estimations. An analogy could be a family increasing their standard of living until it exceeds their income, but no worry, Uncle Sammy is going to leave them a nice sum in his will, but, it is found Uncle sammy is also broke. So the family lowers it's standard of living(analogous to reduced benefits) or borrows to maintain its standard(analogous to increased taxes). KM