On Apr 28, 2011, at 11:07 AM, Julio Huato wrote: > Bottom line: We want the needs of people to be met.
Well, yes. But I don't get what you're getting at. You talk about the wonders of deficit spending. Sure, up to a point, but that's not really the issue. You're basically conceding that the idea of a SS surplus is a fiction, and making good on promised benefits will require new borrowing. There's no reserve to be drawn down. Benefits will have to be funded by future incomes - the whole thing is pay as you go. There is a tiny political problem: the ruling class doesn't give a damn about the needs of the people. So if and/or when there comes a need to tax or borrow to make good on promised benefits, what do you imagine this ruling class and its likely descendant is going to do? My guess is cut benefits, unless there's a serious upsurge in the class struggle. Doug _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
