[Homestead] One More View of Social Security

Clansgian at wmconnect.com Clansgian at wmconnect.com
Mon Feb 14 11:51:35 EST 2005



> The retirement system, by design, has been running a huge surplus. Its
> "oil" exists not under the ground, but in the form of government
> securities, currently valued at well over $1.5 trillion. The system's
> actuaries predict that Social Security will have $5.3 trillion in
> assets by 2018 


Lynda, what is your take on this quote from the article?   You already know 
my lean on this:  the $5.3 trillion in "assets" is only the government's 
promise to tax its citizens and businesses.  Isn't that a "good news - bad news" 
type thing.  In 2018 the SS says, "We've got good news and bad news ... the good 
news is that SS has $5.3 trillion dollars, the bad news is that you taxes go 
up by $5.3 trillion to pay for it."


James



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