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| quote: | Originally posted by MisterOpus1
Thanks for your responses. I haven't had much time today to examine the arguments further, but on the whole I do tend to agree that there are some changes that should be made. I'm just personally not convinced that the day of change is now, at least not yet. I need to research this a little further, however, in order to say anything more.
There's also a particular criticism of Bush's SS proposal that I have yet to see answered very well - Bush has reassured seniors on the campaign stump that they'll continue to see their checks, and that their SS money will not be touched. Well let's say that over the next 4 years Bush's proposals come to fruition, and youngins' like us get to play the markets more with our SS. Well, all that money that we would have been normally been placed into the SS fund is now being placed elsewhere. So those folks who retire, say 10-15 yrs. from now - where will their money be? IOW, the shifting of our finances will have a direct impact on the money given to retirees down the road. So how will those retirees be subsidized at all then? |
Silly, we just create more debt!
In all seriousness, that certainly is the most important question. How do you build the bridge to facilitate the change. I think Bush's vision is probably a bit optimistic--as I understand that he wants the money to be better invested, therefore generating a better return, thus facilitating payments to existing SS collectors without creating too much additional debt. Bush is all about a strong economy being the great facilitator. Correct me if I'm wrong.
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