Monday, May 01, 2006

Social Security all out by 2040 they say

Sez the Associate Press: Social Security, Medicare Trust Funds Sink

Look, this very important US safety net would be very easy to bring back to solvency.

One, get our country back in the black in general. Like it was before Bush took office.
Two, SS comes out of the general fund and is all alone. No more borrowing against it. No more using it's trillions of dollars to prop up the US Balance sheet.
Three, the income cap is REMOVED. Everyone pays into it if you earn a paycheck, no matter how big or small.
At the same time, we reduce the rate of this very regressive "tax" so the (working class) people pay less into it each month, yet we're still increasing the balance overall.

Turning SS into private accounts is certainly not the answer because we have all these obligations we have to cover. We'll have to wait for the baby boomers to all retire, then die first.
Even so, we already have private accounts for retirement. They're called IRA's, 401k's, etc..

You know, the budget was doing just fine for the US about 5 years ago or so.
Somehow, it got all screwed up.
Can't imagine how..

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