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OT entitlements (was lighthouses)
"Canuck57" wrote in message ... On 11/06/2010 10:49 PM, nom=de=plume wrote: wrote in message ... On Fri, 11 Jun 2010 20:00:37 -0700, "nom=de=plume" wrote: The problem is not entitlements per se, it is unfunded entitlements and that includes SS and Medicare as of this year. We have done exactly what Tyler predicted. We voted benefits in excess of the taxes we are willing to pay. That is also what happened in Greece and most of western Europe. It is an unsustainable system. 40 cents of every dollar in my SS check is borrowed from my kids. You can't even prorate that by the amount taken in by the FICA tax since LBJ put SS in budget but even if you did, the check still includes some borrowed money since FICA does not cover the outlay. Well, if you're not willing to address even one of the major entitlements, then there's no way to fix it. I agree, we're over-extended, but some would lay that at the door of the current administration, when previous went wild with spending and deregulation, then said, oh by the way, we're about to have a financial meltdown, and tried to put the toothpaste back in the tube. The current admin. has been attempting to do that since it got in power, and it actually seems to be working. The next step will be to do something like paygo, but what we can't do is tighten spending. That would result in the same thing happening again. I will lay that on every administration since Eisenhower. He was the last one who actually wanted the government to live within it's budget. Goldwater predicted this Social Security problem in 1964, when we might have actually been able to do something about it. .By 1970 the die was cast and anyone who actually looked at the demographics knew SS was going to go broke. The only arguments was when. In spite of that nobody was willing to propose the fixes that would actually save the system (later retirement ages, stopping the unrealistic growth in benefits and means testing the benefit). They nibble around the edges of this but they will not take the steps necessary to fix it. Greece is looking the same basic problem in the face, with a EU gun at their back and they will have to make the changes. Let's see how that works out. We are in no way comparable to the Greek economy. SS is solvent now and can be fixed. The sky isn't falling. Sort of like the debtor in denial the night before the home is reposessed. It will not happen overnight. Numbers sure look like Obamanomics isn't working one bit. In fact, sending the economy to new depths. -- Taxation, modern day slavery. The loss of economic freedom. No. You're just an idiot. |
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