I know that has been that way since the late 60's.
However you lumped three distinct and separately financed items into
one item and all three are funded differently.
The biggest problem with SS is the number of folks funding it per recipient.
It has been shrinking for some time now especially now that the baby
boomer (my generation) has started being SS eligible.
Stewart
At 08:54 PM 4/18/2009, you wrote:
> lets not lump all those together
>
> SS is supposed to be funded by the Social Security Trust, which is
> mainly financed by bonds.
There is no trust Rev. It's an accounting trick that moves the SS funds
into the general fund and replaces it with an I.O.U.
It really doesn't matter how well intentioned this road is. It's a dead end
of insolvency of tens of trillions of dollars. $99.2 trilion according the
Dallas Fed governor. That's $1.3 million for every family of 4.
http://www.dallasfed.org/news/speeches/fisher/2008/fs080528.cfm
We're gonna need a bigger boat.
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Rev. Stewart A. Marshall
mailto:[email protected]
Prince of Peace www.princeofpeaceozark.org
Ozark, AL SL 82
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