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

To: RetiredNow who wrote (214641)	1/11/2005 1:26:49 PM
From: Raymond Duray	Read Replies (1) \| Respond to of 1572611

mindmeld, Re: Therefore, they have to cut benefits to match inflows, because NO RESERVES ARE LEFT TO CONTINUE FULL BENEFITS. So if inflows are $7 and outflows are $10 in 2042, then they have to cut outflows to match inflows of $7. In earlier posts, you deceptively characterized this situation by saying that Social Security would be bankrupt in 2042. Now you admit that it won't be. Which is it? What we have here is a failure to communicate, as the saying goes. Even your mis-characterization that the Social Security System has "reserves" today is a misunderstanding of the accounting, which is certainly not GAAP. What we have today is a "pay-as-you-go" system where the so-called "reserves" have been systematically stolen by Congress to pay for government operations other than Social Security with the Congress and the Treasury Dept. blithely slipping little I.O.U.s into the Social Security Trust Fund. Enough on this. We'll just agree to disagree.