Social Security funds are designed so that no politition can get their
hands on them. Just imagine what would happen if President Bush or some
other politition got their hands on SS funds thinking that they could
invest them better and lost it all. This is what an IRA is for and it
still allows the SS funds to grow.

According to the SSA, there will be plenty of funds until the year 2030
at least. No doubt long after I'm gone and maybe even you. Last year
the increase was 2.1% not the 1.6 or 1.8% you spoke of in your post.

I do believe the SSA also predicted the funds to last until 2030 with an
average 2.0% increase each year. This still=A0isn't enough money to
live on and for most, a part time job willbe needed until you die.

--


OT - Social Security

Group: rec.woodworking Date: Tue, Mar 2, 2004, 9:49am (MST-1) From:
(Larry=A0Blanchard)

OK, I cringe at starting another offtopic thread, but this one should be
of interest to many on this group.

According to an article in my morning paper, the dire warnings about
Social Security going broke in a few decades are based on the economy
growing at a rate of 1.6% a year. For the last 75 years, the economy,
according to the article, has grown at an average rate of 3.6%.

The economics professor quoted in the article is of the opinion that the
"crisis" has been manufactured by the mutual funds and other investment
types to tout privatizing of Social Security. That's a big pile of money
they'd love to get their hands on.

Please don't let this degenerate into yet another philosophy harangue.
The only question to be debated is whether the article is accurate or
not.

It appears to me that even if the average rate is halved, it's about 10%
higher (1.8% vs 1.6%) than the crisis estimates used.
--
Where ARE those Iraqi WMDs?

--
Woody


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