ragu: > ... Doug's answer is accurate and gets to the > point, the real question is why so many people think that a system set > up like this i.e. "pay as you go" where the young pay for the old is > undesirable.
OASI used to be set up as a "pay as you go system" until the Greenspan reforms of the 1980s, when they started the trust fund. Nowadays, the young are paying _more than_ enough to pay for the old, allowing the fund to accumulate (except when GDP is especially low). The issue of the young people like you paying for old geezers like me (;-)) is a different question, a more serious one than the stuff about Ponzi schemes. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
