Originally Posted by
jungle
The programs have been altered many times over their history, there is no doubt they will have to be altered again in much larger ways and the time horizon is much closer than most people understand.
Think about this for just a minute:
"By 2030, about the midpoint of the baby boomer retirement years, the programs will require nearly half of all income tax dollars."
Add in other proposed spending and it is very easy to understand that all of our backs are going to be pressed against an unyielding economic hard place in the near future.
A complete lack of any figures to the contrary speaks volumes about the truth in this matter. It really doesn't matter how we feel about it, it all comes down to what we can afford.
The limits have already been exceeded by a very wide margin.
Well, two points. One, I don't agree with the figures that produced that analysis. As I said before, they're not taking increased immigration and projected growth fully into account. Two, you're including Medicare and Medicaid programs in the analysis that comes up with the 'half of all income tax dollars by 2030' which is a whole different and IMHO separate discussion.
Medicare reform, in my opinion, is a MUCH more important issue that SS reform. Note I'm not saying that it should be abolished or anything, because I don't think it should be, and even if I did, I'm a pragmatist and I know there's no chance of that happening. But I recognize that dramatic changes and reforms are necessary.
And I agree that SS is supposed to be supplemental, not provide retirement. As I said, a 'small safety net'.