| Hey guys there is no "trust fund". That 'inconvenient truth' came out of the global warming fanatic,Gores, mouth. It's no more than an obligation to pay you out of the general fund when you retire. The federal money machine is nothing more than a big system of incoming tax dollars offset by direct payments and IOUs. Social Security payments are both.
I read that when it was conceived it took contributions from some 30 people to eventually pay off one retiree. It is now down to something like 5 contributors. With baby boomers coming closer to retirement it's soon going to be in the red.
Solutions? Raise the contribution percentages. Allow contributors to use some of their contributions for private investment.(zee touches on that) Devise a new system.
What has been done in the past few years, by a cowardly do nothing Congress, is nothing. I also fault Bush. He didn't push hard enough for reform. Nor did Clinton.
It is an important issue and demonstrates how inefficient our congress has become. They seem more interesteed in the Iraq War than they are in solving our internal problems?
Thus we play the fools with the time, and the spirits of the wise sit in the clouds and mock us. |