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Author: SeattlePioneer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 63238  
Subject: Re: Surowiecki on Soc Sec, Medicare Date: 2/3/2013 5:45 PM
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<<If we still had that $7 trillion (plus interest), Social Security and Medicare would be in a lot better shape. The last election showed that a majority of Americans reject the Republican Chickenhawk and GOP Tea-Bagger agenda.

intercst
>>



If pigs had wings they would fly, intercst.

We would be having the same discussion about Social Security that we are having now, and for the same reasons. The Pay As You Go system is failing, again, and the issue is what we will do about it.

The Pay As You Go system fails repeatedly, every few decades. Congress does something about it (usually raising taxes) and that creates a surplus which then is exhausted by benefit increases.

The Reagan episode both increased taxes AND cut benefits ( by raising the normal retirement age to 67, and making hald of SS benefits subject to income tax).

The issue before us is what we will do NOW to deal with the current problem.


Seattle Pioneer
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