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To: jessduntno

Some of these are very good like term limits.

The one on SS won’t fly anymore than it did in 2005 because the country is broke . One could have made the principled/moral case that the shrinking SS monthly surplus should be saved instead of spent (phony trust fund) on other programs. But it makes no sense for the US to borrow money from China, to create a personal savings account for votes.


11 posted on 01/25/2010 8:47:29 AM PST by sickoflibs ( "It's not the taxes, the redistribution is spending you demand stupid")
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To: sickoflibs
Social Security suffered the same sort of fate as what happened when the State of Florida's convinced voters to approve a state lottery. It's not exactly the same, but the results have been quite similar.

Floridians had consistently been against a state lottery. Then its supporters came along and promised every penny raised by the lottery would go directly to education. They wrote in all sorts of assurances that lottery money could not be used on anything but education. Here was our chance to something ‘for the children.”

Voters fell for it hook, line and sinker. Sure enough, tons of funds began flowing into education from the lottery. And all of it went to education as promised. But after a year or two it became obvious that for every penny brought in for education, another penny or more was cut from the general funds that had always been used for education.

As a result the overall funding of education went down. Education was not enhanced at all.

Now we have an education system is always short of funds AND the money that once went to education is spent on some other state policy or program.

Turns out the availability of lottery funds not been used to enhance education, but to damage it!

The Feds have taken social security funds for years and poured them into the general fund where they were spent on all sorts of things. Money that was supposed to be set aside to pay benefits to those who had paid, at gun point, into the fund their entire working life was put to work, not earning interest in investments, but rather to make the federal deficit look smaller. Then when all that money was not enough, they began borrowing money at the going rates. So, in essence we ended up with a fund that wasn't growing but actually getting smaller. And the IOU’s being issued by the Feds for the stolen money would become more and more worthless as the interest costs to government on borrowed funds continued to rise.

To compound the problem the fund was so rich at one point that it was decided to forgo a scheduled increase in the money workers were paying into the fund.

I have no idea how it would be done, but I would like to see where SS would be today had it been run the way it was intended. The collections put in a trust fund invested in the private sector, and the increases in employee contributions not been cut instead of increased as planned.

I know there's lots wrong with both my analogy and my understanding of where SS went wrong. I invite those with more understanding of this to educate me. Please.

31 posted on 01/25/2010 10:20:30 AM PST by jwparkerjr
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