[Homestead] Social Security: Claims and Facts

Clansgian at wmconnect.com Clansgian at wmconnect.com
Mon Feb 14 12:11:16 EST 2005


> Fact: “A Bush aide, briefing reporters on the condition of anonymity [said] 

> that the individual accounts would do nothing to solve the system’s 

> long-term financial problems.” The long-term gap in revenue would “have to 

> be closed through benefit cuts that have yet to be detailed.” [LAT, 2/3/05; 

> The Washington Post, 2/5/05]

Proponents and advocates of Bush's plan alike are hacking away at straw men 
and no one addressing the real problem so well stated in this rebuttal (but 
ignored and unaddressed as usual):  "the system’s long-term financial problems" 
are because when SS was concieved in the 30's only a limited % of the 
population lived to qualify for the funds and then those who did received the funds for 
only a vew years (on the average).  Now that people live longer and are 
active and healthier longer and we are still more or less unsing actuarial tbles 
from the 30's, people expect to take a taxpayer supported holiday for 1/3 of 
their life.  To bring SS in line with it's original intentions and based on 
modern actuarial reality we'd begin disbursing benefits when people reach their 
late 80's.  Until and unless this happens, it matters little if the system is 
left alone or 'fixed''.  As soon as a large enough % of our population has 
government 'fiat' money in its pockets pursuing the goods and services produced by 
the other 50% (or fewer), prices will rise to the point that no matter how many 
trillions the government holds as IOU's, they will buy nothing.

James




More information about the Homestead mailing list