[Homestead] One More View of Social Security

Rob becidawa at hctc.com
Mon Feb 14 22:00:35 EST 2005

At  2/13/2005 11:17 PM, you wrote:

>The Skinny on Social Security

his was a good article if the numbers quoted were accurate.

>By Michael I. Niman, ArtVoice 2/10/05
>The corporate media has been making a lot of noise lately about the
>so-called "Social Security crisis." And those in the alternative media
>have been assuring us that there is no crisis, based on interviews
>conducted with a plethora of economists both in government and academia.
>Here are the facts. Lots of Americans were born during the 15 or so
>years following the end of World War Two. We call this the baby boom.
>Boomers have demographically passed through time like a big fat rat
>flushed down the toilet, clogging public schools, colleges and
>ultimately the job market with their mass. The big fear is that
>ultimately when this demographic blip reaches retirement age in about
>ten years, they'll burst the Social Security pipeline and throw the
>system into ruin.
>Social Security administrators, however, saw this blip coming a
>generation ago, and adjusted payroll taxes so that the payroll system
>would run a surplus - enough to support itself until the last of the
>baby boomers die of old age.
>Here are the numbers.
>At this point (2028 or later), Social Security will dig into the nest
>egg it built up specifically for the purpose of getting over this
>hump. The trustees, including a number of Bush administration cabinet
>officials, predict that this nest egg will be depleted in 2042. The
>Congressional Budget office predicts this will occur in 2052.

In 2052 I'll be 99 years old, that really does put it into perspective.

I have not been watching much of the media lately, do they keep bringing up 
Mr. Bush's numbers and ignoring the others?

I suspect that again, this is the time to follow the money if you want to 
know what's really happening.

becidawa at hctc.com 

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