Am I correct to assume that right now the SS fund is empty and filled with government’s IOUs? That it’s running as a classical pyramide scheme when beneficiaries receive money from the contributors? And that soon the ratio of taxpayers to recipents will not be enough to have surpluss?
Anyway, what’s going on now? I remember there was some talk about reform and privatization a few years back but nothing came from it. I remember my left leaning coworkers complaining about government wanting to screw us over with this reform. They referred to the faile privatization in Chile (which I don’t know nothing about) and thought the system was ok, it just needed some “tweaking” (probably meaning raising taxes and age requirement). It’s actually quite funny considering that it’s Roosevelt and everyone else who came after him that screw Americans over.
The good thing is, anyone under 30 that I know is not counting on seeing any money from SS and trying to save money in some other way.
What’s in store for us with Obama? Are the Dems going to push for that GLA plan?