| How to Deal with Social Security
The 2007 budget total is about 2.77 trillion dollars, of which 581 Bil dollars is spent on Social Security. That's 21% of the budget, and that goes up every year. (whitehouse.gov/omb/budget)
My solution would be to find a way to replace the current program with one that doesn't rely on todays workforce to pay for today's retired.
Other solutions are to raise the Social Security Tax, lower benefits, and others, but these really just delay the inevitable fact that Social Security is a huge drain on resources.
I realize that the program was enacted during the Great Depression in order to help the disabled and elderly. It is a great program that has worked very well for many years, but with todays people living longer, the program is falling apart.
What do you think is a solution to this problem? Should Social Security be ended because of the problems that will arise by trying to end it or modify it in fifteen to twenty years when benefits outweigh taxes taken in? |