(June 10, 2011 at 7:21 pm)Atheist Jew Wrote: I meant that it will go bankrupt in a few years and I am sorry if I did not clarify myself the first time. Also I think that only military people who have served a certain amount of years and people who are unemployed(though only if the unemployed people can only be on it for at most 3 months).
Sources: Wall Street Journal, general talk.
No..it will not "go bankrupt" in a few years. That is what the right wingers keep screaming. In reality its liquidity will drop to 75%. Meaning that if we do not make corrections to fix its input vs. output descrepency then those who will be expecting payments in 2023 (not sure if that is the exact date) will only get 3 quarters of payment due compared to the inflated currency/projections we have right now.
The senate should stop using the fund as a source of colateral for foreign loans, and dumping the interest rate payments upon the lower tier incomes, and increase taxes by at least 15% on the upper tier incomes. If this was the plan, then this problem would be fixed in less than a decade.
Currently the plan is "how can I get this huge pile of money into the private sector?".. thus the talks of "privatising Social Security". When that happens, expect the obituary section of your local newspaper to be 4 to 6 pages thick everyday for a good year or so.
