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


To: RetiredNow who wrote (214946)1/15/2005 10:33:48 AM
From: Alighieri  Read Replies (1) | Respond to of 1573922
 
We can't have a debate about a topic unless both parties are willing to agree on the facts. And you clearly still have your head in the sand.

It's a debate about process, not precept.

PS: Bankruptcy is not SSA language.
story.news.yahoo.com

Al



To: RetiredNow who wrote (214946)1/15/2005 10:53:18 AM
From: Road Walker  Read Replies (2) | Respond to of 1573922
 
re: Why don't you listen to John Fowler? Even he acknowledges that social security will run out of money in 2042.

No I don't. Somewhere after 2050 outflow will exceed inflow by about 20%, according to "experts". Just as inflow has exceeded outflow for over 20 years. There are also a lot of variables that could change that date, on either side. But SS will not "run out of money", that's political scare tactic rhetoric, which is the last thing we need.

It's a problem that needs to be addressed in a careful, thoughtful, unemotional analysis leading to a solution that doesn't upset an already fragile economy with huge imbalances. Using inaccurate, inflammatory terms doesn't help.

John



To: RetiredNow who wrote (214946)1/15/2005 11:14:33 AM
From: combjelly  Read Replies (1) | Respond to of 1573922
 
"They themselves predict the system will be bankrupt in 2042."

No they don't. They do predict that the reserves will be gone. By law, they then have to cut back the benefits to match the cash inflow. Even at the worst cut, to 68%, the lowest amount paid out exceeds what the retiree in the lowest bracket gets now in 2005 dollars. It isn't a whole lot of money, but it is more than zero.