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

To: RetiredNow who wrote (213652)	12/20/2004 6:05:44 PM
From: Road Walker	Read Replies (2) \| Respond to of 1578343

re: This statement is false. We don't owe anyone our spending on military. However, our SS promises to pay you and I retirement benefits in exchange for our contributions into the system over our lifetimes. This is an obligation that is an unfunded liability. Military spending can be cut, if the gov't decides to. So can SS, "if the government decides to" (which is obvious from the current debate). There are two separate issues; "saving" the current SS system, and creating privatized accounts. While I think privatized accounts are a splendid idea, I can't in any way shape or form see how we can afford it with the current accounts deficit. Do you think we can afford it? What about the value of the dollar, and what will happen to inflation if China and other countries stop financing our spending? We are going to spend for the military as far as the eye can see; if it's not an "unfunded liability" then you are just playing with semantics. The folks that hate FDR's SS system are just playing a semantics game, SS is no more an unfunded liability than maintaining the interstate system. You've got a short term demographic blip; you deal with it, it's not catastrophic. But to disguise a privatization scheme, that's going to add a couple of $Trillion to the debt, as the savior of SS is totally deceptive. It's more likely to bankrupt the system, sooner than later. Hopefully, for a change, the US population won't be mislead by the smoke and mirrors coming out of Washington. Hopefully, the "liberal press" will expose this sham. John