Thoughts on 'Social Security Reform'

[eeldip]

i think the social security system is going bankrupt, and i don't think anything other than cutting the millitary budget by a couple hundred billion will fix it. not to mention fixing just about every other budget crisis we've got...

why do you think this? when is it going bankrupt?

according to every single accounting of the system SS is totally fine until 2048. at that point it doesnt have the money to pay out at the rate promised, but it still has plenty of money.

if the bush tax cuts for incomes over $350,000 were rolled back the deficit expected in 2048 could be covered easily.

fixing social security is quite easy, and doesnt require much effort or time or even money!

[apropos of nothing]

THE PRESIDENT: Because the -- all which is on the table begins to address the big cost drivers. For example, how benefits are calculate, for example, is on the table; whether or not benefits rise based upon wage increases or price increases. There's a series of parts of the formula that are being considered. And when you couple that, those different cost drivers, affecting those -- changing those with personal accounts, the idea is to get what has been promised more likely to be -- or closer delivered to what has been promised.

Does that make any sense to you? It's kind of muddled. Look, there's a series of things that cause the -- like, for example, benefits are calculated based upon the increase of wages, as opposed to the increase of prices. Some have suggested that we calculate -- the benefits will rise based upon inflation, as opposed to wage increases. There is a reform that would help solve the red if that were put into effect. In other words, how fast benefits grow, how fast the promised benefits grow, if those -- if that growth is affected, it will help on the red.

Okay, better? I'll keep working on it.

Translation: "Perhaps my man-servent tied the cravat a little severely this morning."

[Mr PC]

Wren-

I think you are using examples and too enthusiastically extrapolating them out to define private industry as a whole.

I think CEO's often get paid too much, but unless I own stock in their company, it's not my business. I also think there can be too much coziness between the corporate boards and the officers, but I'm not sure I would want laws written to try to fix it.

People at the top of these companies can and do get fired. ("Take that, Mr. CEO! Now you won't be able to play golf at the company's country club. Go back to the other two you belong to!")

There will be many exceptions, but I think that because the business world lives and dies by numbers and performance, there is an accountability for not performing.

PC

[andyg666]

why do you think this? when is it going bankrupt?

why? economic collapse brought on by energy crisis.

when? sooner than 2048...

[eeldip]

why do you think this? when is it going bankrupt?

why? economic collapse brought on by energy crisis.

when? sooner than 2048...

yea, ok. actually if that happens. you are right!