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Vic Smith

On Thu, 09 Nov 2006 21:30:43 -0500, wrote:

That assumes the government can come up with the extra revenue to
honor the trust fund.
There has never been a revenue squeeze like this before so we can't
look at SS history. It has ALWAYS run with a large surplus.
This is exactly what happened to Ponzi when the outgo exceeded the
amount from new suckers and he had to actually try to make the stamp
scam work.
Where in the hell is the government going to get the money to redeem
the trust fund bonds? Are we really going to raise taxes $200 Billion
(inflation adjusted) by 2017 PLUS the amount needed to redeem SS bonds
and the ones we are printing now for the other deficit spending?

Since I've always favored Navy, courtesy demands I answer you, then
I'm really done with this thread. Fixing SS revenues now with any of
the SSA proposals immediately pushes that 2017 redemption date back.
The SSA report doesn't mention to what year, but if you want to run
the numbers, you can extrapolate to get an approximation.
Bottom line is that fixes it for 75 years.
Another bottom line is nothing is free. You pay for what you get.
Right now in Florida there are 10's of thousands of people worried
about their insurance and tax bills. Some are leaving Florida.
That's just how it works. This country has been in debt for years.
Anybody can believe anything they want about SS, and work to change it
however they want, but in the end old people won't be starving on the
streets of America. The money will be there to keep that from
happening. Somebody is going to fork over the dough no matter how
much they whine about it. I've forked out the max SS for years
without whining about it, and I'll fight like hell to get some of it
back. Could be big recessions or some type of depression on the
horizon. Hell if I know, but America will survive.
I just want to get my boat and do some fishing before the **** hits
the fan.

--Vic