Wednesday, February 25, 2009

Another POV

According to the best guess of the Congressional Budget Office, Social Security is well funded until 2040, about 6 election cycles from now. (By the way, it is well funded because the baby boomers agreed to tax themselves to pay for their own as well as their parent's retirement, so as not to impose too large a burden on the smaller baby boomlet of their children.)

There is no question that the US pays the most for health care. It has a poor return for that compared to the rest of the developed part of the world.

Of the $1.4 some odd trillion the world spends on War, the US spends $771 trillion, or 48% of the total.

Based on the above facts, it is obvious that the only way to achieve fiscal balance is by cutting Social Security benefits.



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