Reply to What Would You Be Willing to Do to Save SS?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You guys are way down in the weeds. The thing is insolvent and you're arguing about mowing the lawn while the house is on fire.[/quote]

It's not insolvent. When the trust fund runs out in 2034 or so, there will still be enough money to pay 75% of benefits forever. The trust fund was an add-on created by Ronald Reagan so he could kick the can down the road by raising taxes without cutting benefits while getting credit for being a fiscal conservative.  But we should go back to what it was before, a pay-as-you-go system, just by balancing income and outflow.  And I repeat if we DO NOTHING, there will be a 25% cut in benefits, but the system will last forever.[/quote]

A) It's paying out more than it's taking in today.
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That was intended.

[quote]
B) Much of what's in the "trust fund" are IOUs, so the money isn't even there. It's been robbed for other things.
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That was not intended, but when Al Gore talked about putting that money a lock box, people thought that was pretty funny.  I voted for Gore, so don't blame me.

[quote]
C) Medicare is even worse off that SS.[/quote]
Separate issue.[/quote]

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