American Horse
AKA "Mustang"
Maybe we shouldn't let the government "borrow" from SS.
First, Social Security is an INSURANCE. It isn't a savings account. If people don't need to receive social security benefits, then they shouldn't. Minimum income reequirements including taking into account "unearned income" would greatly reduce the burden on the system.
Second, Keep the government from borrowing money from those funds in order to pay for other things. Considering how much the government has 'borrowed', is it no wonder the program isn't solvent? Could you imagine if all that money had been invested in the private sector by the government instead?
It's not too late to change that policy.
sure I can imagine if that money has been "invested" in the private sector. It sould be similar to the stimulus. Where did all the money go? Is that all we have to show for it?
Of course the private sector wants this so they will make profits from our "ss insurance" premiums. The market has been saturated for years, the credit foundering kept things going for a while but no more. So private industry began to chase tax dollars.
And the move towards privitizatin began.
the private industries we would be investing in now would be in China and India, etc.
Look, there are lots of retirement programs in states (my own state of IN is one) in which they have opted out of SS and depend on the state's own program invested in the private economy. All that money in the private economy, with some real discipline, unlike what we saw with Fannie and Freddie - two Govt. Sponsored Entities - would create jobs through the stimulus guided by investors seeking profit and growth. Again unlike F&F which had no higher and noble of a goal than to cater to politicians and their whim dejour, in that case it was a home and home mortgage for everyone, even those who would've been better off in a rental so that they could maintain flexibility of living location for a job situation. F&F did not perform their fidiciary duty, and the de-regulation, or failure of regulation was of those two GSEs.
I don't trust politiciians, of any party; they will act to preserve their own situation, or make it even more secure, with the public's coming in a far distant second..
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