On Thu, 24 Mar 2005 14:21:02 GMT, "Jim," wrote:


One more thing to consider. SS relies on Government bonds for
additional income. At present, recently purchased bonds pay about 3%.
They have some on file that pay much higher.

Rates are rising, so newer bonds will pay a little more. The rising
rates will help balance things (note i didn't say cure, but help).

Since we have 30-50 years before facing a "crisis" it should require
only minimal changes to fix things. This was done in the 80s and nobody
bitched too much, and again in the 90s when SS for those with income
over some number was taxed. IT *CAN* be done again

The "fixes" in the 80's only moved the inevitable back 20 or so years.
That's not a "fix", it's only a band-aid.

The plan is set up such that it can't be fixed without digging deeper
into everyone's pockets. It needs to be scrapped and a new plan put
into place. The problem is that there are people currently receiving
benefits who put into the plan and deserve them. The only way to keep
most people happy is through a "phased" approach. The president's plan
touches on this strategy. The end result should be a gradual weaning
of people from government dependency, and on to private retirement
accounts of their own choosing.

Dave