Saturday, February 6, 2010

Unfortunately, Liberals, Privatizing SSI is the Only Answer

Scanned image of author's US Social Security card.Image via Wikipedia
Considering Social Security and Medicare are bankrupt, privatizing will eventually be the only option.
The 2009 Social Security and Medicare Trustees Reports (not the Republican Party) show the combined unfunded liability of these two programs has reached nearly $107 trillion in today's dollars! That is about seven times the size of the U.S. economy and 10 times the size of the outstanding national debt.
The unfunded liability is the difference between the benefits that have been promised to current and future retirees and what will be collected in dedicated taxes and Medicare premiums. In2008 alone, this debt rose by $5 trillion. If no other reform is enacted, this funding gap can only be closed in future years by substantial tax increases, large benefit cuts or both.
Go back and read that again, saying it to yourselves very slowwwwlyyy:
107 trillion, 107 trillion...
Of course, what is the educated liberals cure? Spend more money. You liberals better wise up, look at Argentina and Iceland, because that is where we are headed. Of course, conspiratorialists say that was your plan all along....
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