|To: skinowski who wrote (90590)||5/24/2012 8:26:40 PM|
|From: bart13||4 Recommendations  Read Replies (1) | Respond to of 101277|
|What you said was:|
The net result is that presently, younger people will have to pay for a huge generation of old baby boomers, who never did anything for them.
What I said was:
Only if you place zero value on parenting and the costs of raising children, etc., which last time I checked was over $200k from birth to 18 years old. And that does not include higher education costs.
... and it remains 100% true.
Your other points about ratios and sustainability are true, and they were true in the early 80s too - and taxes rose to kick the can down the road. We very likely won't be as lucky this time, and *every* generation (I'm almost a geezer) will be screwed - and many many will also likely lose their lives etc. before the pendulum starts to swing the other way.
It *must* play out, whether I like it or not.
Even Greenspan knew what's ahead:
"We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power."
-- Alan Greenspan, appearing before the Senate Banking Committee on February 15, 2005, in response to Democratic Senator Jack Reed of Rhode Island on the topic of funding Social Security.