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Politics : The Citizens Manifesto -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (152)	6/16/2005 10:34:15 PM
From: TigerPaw	Read Replies (1) \| Respond to of 492

1 - Those bonds will run out in a few decades without changes to the plan. 2 - Even before that it will need a lot of federal income tax income to be funneled in to the program. Only minor changes are needed to keep the plan solvent until the temporary baby-boom surge has passed. Of course there would have to be federal funds used to pay treasury bills. That's what's known as the full faith and credit of the United States. That money was already paid in by the boomers and it must be theirs when they need it. The alternative is to loot the fund, the same way that many private defined benefit funds looted their pension plans in the 1980s. That was bad policy then and looting would be bad policy now. TP