From USA Today: “Social Security: Easy to fix, but where’s the political courage?”
With people living longer, the program pays an unsustainable amount in benefits and would already be in the red if not for contributions from the massive baby boom generation, now on the verge of retirement.I’m not! Just leave me and my 401(k) alone and everything will be cool.
Emerging from last week's elections, President Bush and congressional Democrats vowed bipartisan cooperation in solving the nation's big problems. Fixing Social Security before it's too late should be high on the list. But don't bet on it.
1 comment:
The dirty little secret is that Reagan and the congrssional Dems cut a deal to put the surplus towards covering the deficit in return for raising SS taxes. Brilliant.
Now the SS "trust fund" is full of IOUs dependent on some future politicians raising taxes to cover the shortfall. That was the day that SS was doomed.
My prediction is that SS will become a means tested program and survivors benefits be cut.
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