I would like to pose a question to the presidential candidates in regards to social security. With all this talk about universal health care and absolutely nothing in regards to the social security, how would you handle both programs when we cannot even handle one?
As of this year, baby boomers are beginning to retire and thus begins the crisis. In the next twenty years, 78 million people will be retiring, draining all the resources of this country. USA Today conducted a study and reached the conclusion that we would have to invest $58 trillion today in order to generate enough interest to meet the program's obligations.
Getting rid of the Bush tax cuts may sound great from a stump, yet in reality this would only result in a $500 billion yearly gain. So where are you going to get the other $57.5 trillion dollars? Removing our presence over seas would result in a $1 trillion which would leave us at $56.5 trillion deficit in needed funding.
So my question to you is, how would you fix social security for those baby boomers that have paid into it all of their lives? How can you keep social security afloat meanwhile dreaming of a universal healthcare program?
As with all communism and socialism, it all comes to an end. It certainly seems that socialism (when looking at the accounting) is dead but we all know we cannot get rid of those pesky democrats that buy votes.
Last Year's Shots
12 years ago
1 comment:
I think the Candidates have answered this. They say you have raise the cap on how much income is taxed for social security. As an additional manner, I suppose you continue to redine how benefits are paid out. We always talk about the huge number of baby boomers who are retiring - but not all of them need social security.
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