Skip to Content.
Sympa Menu

homestead - Re: [Homestead] One More View of Social Security

homestead AT lists.ibiblio.org

Subject: Homestead mailing list

List archive

Chronological Thread  
  • From: Clansgian AT wmconnect.com
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] One More View of Social Security
  • Date: Mon, 14 Feb 2005 11:51:35 EST



> 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




Archive powered by MHonArc 2.6.24.

Top of Page