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Originally Posted by theking
To the best of my knowledge the President has yet to come up with a plan to cover the predicted shortfall...of funds that will become critical in forty years or so.
It is my understanding that privatizing a portion of SS...actually will remove two trillion dollars from SS and does zero...nada...to resolve the short fall of available funds...that will become critical in forty years or so and in fact the two trillion dollars removed from SS will increase the short fall problem.
There are only a hand full of ways to resolve the short fall of funds that will become critical in forty years or so and to the best of my knowledge the President has not offered up a plan with any real solutions to this problem...just as the Democrats have not at this point...but I do think that most Democrats are against privatization.
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I dont believe that is accurate.
The first statement he had was to encourage debate on possible solutions. He even said anything but raising payroll taxes. The democrats stopped participating in the debate at that point.
How many people at that rally do you think will know if the plan is designed to be optional or not and what percentage is designed to be placed in private accounts?
The privitization is not designed to "fix" social security, but is but one step in the process to alleviate shortfalls in the future. It is desinged to supplement the traditional checks.
I'm pretty sure the protesters have just been told that their grandmas are going to loose their money.
I also think you are discounting the increased return that will available in the future to those who choose to participate in the private accounts. Wouldn't the increased return be a good opportunity for young people beginning to pay in.
I'm not an expert on the proposals out there, but I do know that this is the 2nd major issue in the last 5 years that democrats have demanded and then done a 180 when president Bush decided to follow through.