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Author: TheVlad Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75797  
Subject: Re: ss changes batted around in Congress? Date: 12/11/2001 7:55 PM
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Whoa! I was listening to NBC news tonight and they had a short segment about retirement income/investment. They ended with the comment that Congress is considering decreasing SS benefits! Is this true and where can I get more info to track this legislation?

It is not the congress as far as I know but the Commission on Social Security which is looking at ways to reform SS. Part of what they are looking at is private investment accounts and part is the reduction in benefits to be offset by private accounts. Their projections of offsets are based on the return of 3.5%.

I understand it is hard to stomach the idea of SS benefits reduction but it is inevitable.

SS system will default fairly soon and if nothing is done to tackle this issue, the results will be devastating.

The question is if the political leadership (both Republicans and Democrats) have the guts to deal with it or if they will try to get a short-term political advantage for themselves while pushing the solution further behind when it will be even more painful.

Vlad
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