As most Americans are now becoming aware, the Social Security “Trust Fund” is not a diversified portfolio but is invested in government IOUs, rather than real assets that will grow in value to pay future benefits.
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Yes, the SS system is present as solvent as your next year's ability to have a job and pay your taxes...yes it is ALL SMOKE AND MIRRORS WITH I.O.U.s...but we sure don't hear Washington standing up and saying that, do we? No, the liberal pinkos want to HIDE what SS is badly, since to them, it is just another source of short term revenue to votes with (the annual taxation surplus in SS) -- only the Repubs (GWB et al) care enough to get the money out of the hands of the Washington elitists, and into something that is tangible and will be UNTOUCHABLE BY WASHINGTON SPENDERS!!! Presently it is a sham of major proportions -- to call it a ponzi scheme is being polite...
As a member of CalPers (and a SS non-participant), I must admit some bias.
Still, what's the big deal? Just wait until the sytem turns upside down in 2018, and watch the Democrats leap into action as the retirees start to take money away from their pork. You SS folks (or your parents or grandparents) believed the Democrats would take care of you. Give 'em a chance to show you what they are capable of!
Feel free to flame my sarcasm. Personally I feel sick that I will be able to retire before my father because of how much the Fed. Gov't. has taken away from him over his lifetime.