Tigerlure said:
Kasz216 said:
I'm less worried about borrowing from China then I am borrowing from ourselves.
Intergovernmental debt is a bigger deal and generally ignored. (Hence why Clinton was able to "balance" the deficit, yet still raise the hell out of the deficit.
http://www.washingtonpost.com/opinions/its_still_an_empty_lockbox/2011/03/17/ABPpoym_story.html?nav=emailpage
is a good article on it.
Essentially, the US will likely get it's act together on what it owes other people... but likely screw over those who invest in social security, medicare etc. It's own people.
Hence why private social security is actually a GOOD idea.
Because I know if i put my money somwhere privately, that the US government can't steal it to spend it on defense or other welfare programs or whatever...
and in this case it really is stealing since they are spending money that is supposed to be used for social security on other things, replacing them with IOUs.
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That's your preference. After seeing what happened in 08, I don't think most Americans would take a chance on something as large as Social Security in the private sector.
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You do realize the other option is... "government keeps spending it to fund other stuff so it's bankrupt anyway."
All that money is already lost all we have from government is a promise that they will give us those benefits anyway... unless they change their mind, which both parties already argue they have to cut back on at least some.
If you don't want to privatise Social security you may as well be honest about it and completely get rid of the social security tax while keeping the legislated benefits.
Raising taxes eslewhere to cover the cost of the benefits paid out, because there is no money being put into a social security fund for us when we retire... no social security cash vault sitting somewhere.
There is a reason why this used to be a Democrat issue... that issue being that people like us are paying in with a "surplus", that "surplus" is being used to pay for other shit like military spending and when it turns to a deficit, they'll start cutting back benefits...
even though there has been plenty of "surplus" spent elsewhere.
