Re: Fact Check: McCain and Social Security
Day Brown
Enron & Worldcom, and the regulation failures we see in the financial
sector, few young people would choose to invest. But young people also
see that Social Security is unfunded and wont be there for them. Neither
presidential candidate either understands the depth of the problem, of
if he does, is up front about the answer.
I do not see that the Greens or Libertarians have a responsible proposal
either. Given the grip of those receiving entitlements and the power
elite manipulating the asset base of the economy, both to achieve near
term ends, there will not be a democratic mandate to do anything, and so
the government will continue to borrow money as long as it can.
Given that many other economies are also inept and corrupt, money from
them will continue to come in from systems that are even more unstable
as long as it can. Of course, without re-investment in these second tier
economies, conditions will deteriorate there, no more money will be made
there. Famine, anarchy, barbarism, and and revolution is likely; without
functional governments, banditry, drugs, and piracy will spread, even to
the point of destroying international trade.
All the currency which now circulates in those economies will come back
with the members of those elites who flee, and that will set off
inflation. The entitlements will be adjusted like always, but a few
months later will be worthless, and that will effectively reduce them to
whatever level the remaining economy can afford.
Mason C
"whatever level the remaining economy can afford" is what will be paid
as Social Security, medical care, food, housing, clothing, and fun.
The total will be greater or less than today depending on the growth of
the economy.
"Money" has nothing to do with it -- but will be flubbered about and
around and up and down and the economy will boom, bust, recess, and
depress -- as it always has as bankers inept and competent wrestle with
the money. Money will go up in value. Money will go down in value.
All said and done, the total of Social Security, medical care, food, housing,
clothing, and fun will be what it is today, probably higher.
MasonC
Langevinger66
securi(et)y gggg they got people internet it will not sell
Day Brown
> "whatever level the remaining economy can afford" is what will be paid
> as Social Security, medical care, food, housing, clothing, and fun.
>
> The total will be greater or less than today depending on the growth of
> the economy.
>
> "Money" has nothing to do with it -- but will be flubbered about and
> around and up and down and the economy will boom, bust, recess, and
> depress -- as it always has as bankers inept and competent wrestle with
> the money. Money will go up in value. Money will go down in value.
>
> All said and done, the total of Social Security, medical care, food, housing,
> clothing, and fun will be what it is today, probably higher.
people, who are a decreasing demographic. At some point, increasing
numbers of them, some of whom I know already, will find ways to live
that do not result in high cash incomes that will be appropriated in the
taxes to support entitlements.
Mason C
"money will have to be made and collected in taxes."
The standard obsolete economics-theory comment. Money can be borrowed.
Money can be printed -- literally. Money can be created as is done now
by the banking system. Money is not the problem. Money is not the solution.
*Goods and Services* are what is needed. They require only labor and natural
resources. Both are abundantly on hand. Both are being used with increasing
efficiency.
MasonC
Day Brown
> "money will have to be made and collected in taxes."
>
> The standard obsolete economics-theory comment. Money can be borrowed.
> Money can be printed -- literally. Money can be created as is done now
> by the banking system. Money is not the problem. Money is not the solution.
>
> *Goods and Services* are what is needed. They require only labor and natural
> resources. Both are abundantly on hand. Both are being used with increasing
> efficiency.
drugs, build the med centers and rest homes, and staff them to take care
of all the elderly.
Patriot Games
wrote:
>Given the volitility of the stock markets,
All "markets" are volatile, that's why they're called "markets."
>the corporate raiding like Enron & Worldcom
The term "corporate raiding" is used to refer to one company raiding
another company's staff and/or customers.
Enron & Worldcom was simply criminals begaving like criminals.
>and the regulation failures we see in the financial sector
There haven't been "regulation failures."
Regulations, or a lack of regulations, does NOT cause hard-working
law-abiding people to suddenly turn into criminals.
>few young people would choose to invest.
Actually, this would be about the BEST time for young people to invest
since they have the time (15 to 20 years) to see an investment grow
and since they can get in cheap.
>But young people also
>see that Social Security is unfunded
Social Security is not unfunded. But it is UNDER funded in the
out-years.
>Neither
>presidential candidate either understands the depth of the problem, of
>if he does, is up front about the answer.
Social Security was fine until Democrats (and some Republicans)
started borrowing from it and didn't pay it back.