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

To: Alighieri who wrote (213113)	12/11/2004 3:17:07 PM
From: RetiredNow	Respond to of 1575538

So Alighieri, if Bush doesn't borrow the money now to pay for privatization, this country will have to borrow the money later. However, the current unfunded amount is estimated at $10 trillion. By 2040, it will be around $40 trillion. How long should we wait before we fund our debt and then work to eliminate it? Not funding the debt doesn't mean the debt doesn't exist. That is what most Americans don't get. Most people think Bush is creating NEW debt, when in fact he is just funding debt that already exists. Right now, it is an unfunded, off-balance sheet, obligation. The alternative is to let the SS trust fund go bankrupt and then tell all those people who don't get retirement: "Sorry, there's no money left." That's one way to eliminate the government's obligation, but that is what third world countries do, not America. So it's better to fund it now while the debt is manageable, rather than to fund it later when the debt will be enough to bankrupt America. No matter how you slice it, the only way out of this debacle will be a full privatization of SS and benefits paid out to one SS# will only be those that are supported by principal and interest from contributions to that SS# by the individual owning the SS#. That is the only viable long term solution that doesn't rely on stealing money from other people.