"Pity the Kids"

Wall Street Journal

[mft112345]

"General Revenue Transfers to Social Security and Medicare as a Percentage of income taxes:

2003 – 3.6%

2010 – 8.6%

2020 – 28.6%

2030 – 52.7%

2040 – 66.4%

2050 – 76.1%

2060 – 88.0%

2070 – 101.6%

Notes: Federal Income Taxes are estimated to be 10.89% of GDP, which is the 50-year average. Source: Social Security and Medicare Trustees Reports and Thomas Saving."

How Are We to Pay for All This? By THOMAS R. SAVING Wall Street Journal September 22, 2004; Page A28

[mft112345]

Track Louisiana's U.S. Senate candidates replies to questions about this problem at http://www.geocities.com/mft1234

[neutrino]

Interesting. And yet, frankly, I wonder if we won't see a resurgence of the great regulators of population - famine, pestilence, and war.

[Amalie]

The war is already here. Truth be told, the great experiment of Social Security has no good end to it. It will take a brave and wise government to begin dealing with it for what it is - a complete disaster in the making. If Bush can get personal savings accounts through and people can begin to see that SS is NOT the sole source of retuirement income, it may be held in check. Regardless, any major solution will need to be soon, as the most spoiled generation in the world's history (baby boomers) are coming to the age when SS benefits will drive every vote they make, making changes almost impossible.