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The Water Cooler
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you fix the budget(puzzle)
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<blockquote data-quote="dru" data-source="post: 1361682" data-attributes="member: 3047"><p>even if SS only were to pay out to people who had paid in, the unfunded liabilities that are present WILL bankrupt SS and Medicare and ultimately bankrupt the country (actually it will lead to a hyperinflation in the money supply). </p><p></p><p>Unfortunately, SS and medicare will basically have to end or at least be so transformed from their present state that they will be unrecognizable to us. I believe that the current unfunded liabilities of both programs together are in excess of $100 Trillion dollars </p><p></p><p>Simply saying that SS should only go to those who have paid into it will not help. The retirement age will have to be raised, taxes will have to be raised, or benefits will have to be cut (or some combination of all three)</p><p></p><p>Sadly, I think what will happen is that both government programs will simply collapse under their own weight or become so bloated, that a hyperinflation of the money supply will greatly reduce the purchasing power of SS payments which would be a de facto collapse</p><p></p><p>ETA: When i say "sadly" it doesn't really upset me. I would love fewer things more than to see both programs collapse. But it will suck for those currently depending on it</p></blockquote><p></p>
[QUOTE="dru, post: 1361682, member: 3047"] even if SS only were to pay out to people who had paid in, the unfunded liabilities that are present WILL bankrupt SS and Medicare and ultimately bankrupt the country (actually it will lead to a hyperinflation in the money supply). Unfortunately, SS and medicare will basically have to end or at least be so transformed from their present state that they will be unrecognizable to us. I believe that the current unfunded liabilities of both programs together are in excess of $100 Trillion dollars Simply saying that SS should only go to those who have paid into it will not help. The retirement age will have to be raised, taxes will have to be raised, or benefits will have to be cut (or some combination of all three) Sadly, I think what will happen is that both government programs will simply collapse under their own weight or become so bloated, that a hyperinflation of the money supply will greatly reduce the purchasing power of SS payments which would be a de facto collapse ETA: When i say "sadly" it doesn't really upset me. I would love fewer things more than to see both programs collapse. But it will suck for those currently depending on it [/QUOTE]
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