Annie
Diamond Member
- Nov 22, 2003
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And if nothing is done before 2037 the Government still has to find the money from somewhere to pay back the IOU's and as your link states that will cause problems long before 2037.
If nothing is done BEFORE 2037, in 2037, assuming ( big assumption) that the current rate of people paying in stays the same and the number drawing benefits does not increase more then projected, only 75 percent of the money needed to pay for benefits will be available.
The program is in jeopardy and no one seems to want to do anything about it. And no we can't just keep changing when people are eligible to draw their money.
Since you are a lefty, perhaps you could tell us what the left plans to do about Social Security? The right has presented several plans over the years and all have been ignored.
What has the right presented besides "partial privitization"? That would have only reduced the money being paid into it even more (worsening the situation) and face it, we all know how the stock market has been doing. Diverting SS money into investments would have proved disasterous.
I've said many times that I think people that have paid into SS should get all of their contributions returned over time beginning at retirement. Once they've received those, with nominal interest, further payments should be means tested. This would make it possible for those without to have enough to sustain them; while the rest make do with their other retirement funds and investments.
Once the dust settles, find a way to end the program, shifting those in need to something that is funded by all. Leave the young a chance.