Posted on 09/23/2009 5:05:53 PM PDT by Kaslin
Entitlements: That day when Social Security pays out more in benefits than it takes in with payroll taxes is no longer years away. It's here now. Reform, alas, is not.
It's widely known that Social Security is headed for deep financial problems. But mainly because projections didn't have the program running deficits until almost 2020, there's been little urgency to make changes in the system.
Typical. Politicians are generally inclined to avoid making decisions on such difficult issues. When President Bush proposed a partial privatization plan four years ago, Congress deferred because most members figured they wouldn't be in office when the crisis hit. Rather than risk their prospects in the next election, they left the mess to the next generation.
But time is shorter than they thought.
(Excerpt) Read more at investors.com ...
where are jobs
Excellent question since 0bama claimed he created over a million jobs
Look a little harder and you’ll find Clinton talked about privatization long before Bush.
Privatization would have been a good thing
In Mexico, China and India. Can anyone count in DC, when jobs move overseas, you lose your tax base.
ping!
Figures. We turn 62 in 2018. It’ll be “needs” based o race-based by then.
Ping list for the discussion of the politics and social (and sometimes nostalgic) aspects that directly effects Generation Reagan / Generation-X (Those born from 1965-1981) including all the spending previous generations are doing that Gen-X and Y will end up paying for.
Freep mail me to be added or dropped. See my home page for details and previous articles.
Look a little harder, and you find that Goldwater talked about privatization.
Look a little harder and you’ll find Clinton talked about privatization long before Bush.
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So what happened to prevent Clinton to get some privatization passed when the House was full of fiscal conservatives (1995-2000)?
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