One of the problems with too much democracy is that the mob of baby boomers will be large enough to outvote the folks paying into the system. The checks will be written, the taxes will be raised, all other spending will stop just to pay SS and all that goes with it. The economy is doomed to fail in a vain effort to pay for the ponzi scam that is SS. I do hope you all have a plan B cause you are gonna need it.
The other scary possibility is that we could see runaway inflation in the future.
This could happen if future presidents and future Congresses are determined to pay all promised Social Security benefits come hell or high water. In that case, they would simply run the printing presses overtime to create the money to pay the Social Security benefits as promised. The fact that they will be devalued dollars will not matter. The only thing that would matter would be that the politicians could claim that all promises made to Soc. Security recipients have been kept.
Another factor will be that all future Presidents and Congresses will look at the problem in two or four year increments, corresponding to election cycles. And they will look for ways to take care of paying benefits for the next two to four years, without considering a long term solution.
The other scary possibility is that we could see runaway inflation in the future.
This could happen if future presidents and future Congresses are determined to pay all promised Social Security benefits come hell or high water. In that case, they would simply run the printing presses overtime to create the money to pay the Social Security benefits as promised. The fact that they will be devalued dollars will not matter. The only thing that would matter would be that the politicians could claim that all promises made to Soc. Security recipients have been kept.
Another factor will be that all future Presidents and Congresses will look at the problem in two or four year increments, corresponding to election cycles. And they will look for ways to take care of paying benefits for the next two to four years, without considering a long term solution.
Put the welfare mob to work, and let them pay in...That’s the 800lb gorilla in the room.
“You all”? Who is “you all”, and do you think you won’t somehow have to pay also?