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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (212661)	12/4/2004 4:24:07 PM
From: i-node	Read Replies (1) \| Respond to of 1585688

>> The underfunded amount is in the trillions of dollars and is expected to reach $40 trillion by 2040, by some estimates. Right. Something like 10 trillion now, and growing to much larger numbers (40-60, as you say) by mid-century. Makes the "national debt", which they're all balled up about, look like NOTHING. The next step is by eliminating the stupid and fiscally irresponsible social security system we have in place today Absolutely. Check out the definition of a "pyramid scheme": A fraudulent money-making scheme in which people are recruited to make payments to others above them in a hierarchy while expecting to receive payments from people recruited below them. Eventually the number of new recruits fails to sustain the payment structure, and the scheme collapses with most people losing the money they paid in. There is simply no better description anywhere of our Social Security system. The only hope is increased investment returns over longer periods of time. The US Goverment will have to fund "bridge" loans to get us there. The difference in 3% and 7% investments is amazing over extended periods of time. Assuming a $1,000 investment now, with 3% or 7% rates of compounding over various numberrs of years. That $1,000 will grow to the following amounts: YEARS..........3%..........7% 10..........1,344.......1,967 20..........1,806.......3,870 30..........2,427.......7,612 40..........3,262......14,974 50..........4,384......29,457 60..........5,892......57,946 70..........7,918.....113,989 80.........10,641.....224,234 90.........14,300.....441,103 100........19,219.....867,716 Anyone who looks at this must comprehend that privatization, or somehow upping the return to something over 3% for an extended period of time is key to the solution of this crisis. Why they can't see it, I'll never know.