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

To: RetiredNow who wrote (216799)	2/1/2005 10:52:05 PM
From: Alighieri	Read Replies (1) \| Respond to of 1571785

I think before you and I can have this discussion, you need to read the SSA's 2004 report. I have. They themselves say the SS Trust Fund will be insolvent by 2042. Why is george bush (and people like you) so concerned about a goverment budget, established by democrats for the good of our elders, which, if unmanaged will be in deficit 37 years from now , but that same george bush, the key orchestrator of yet another goverment budget in deficit now by amounts so large that the interest paid on them dwarf the former liability, and still insists on making the responsible policies permanent ? Al

To: RetiredNow who wrote (216799)	2/1/2005 11:19:47 PM
From: combjelly	Read Replies (1) \| Respond to of 1571785

"They themselves say the SS Trust Fund will be insolvent by 2042." I have read the report. Assuming things go as they project and no changes are made, they won't be able to pay full benefits starting in 2042. This doesn't mean they have to shut their doors or that payments will stop. It only means they will make payments at a reduced rate. Period. And that reduced rate is higher than retirees are getting today, when measured in constant dollars. Bankruptcy doesn't even begin to enter the equation, except as a distortion of the facts. Interestingly enough, if the economy grows at a rate that the administration claims it will when they make their budget deficit projections, there won't be any exhaustion of the trust fund for the next 75 years... So the lack of understanding ball is back in your court.