[rhombus]

Is there any real doubt what will be done? Raise taxes and cut benefits. Of course it’s gonna happen. The question is... where do they draw the line to grandfather people into the current system?

[Jacquerie]

President Bush offered to work with the dems in 2005. They refused to acknowledge there was even a problem. As in the battle for Iraq, the rats cannot allow a “win” to be attributed to any Republican. Pelosi, Reid, old media, et al, have rendered the political atmosphere too toxic for progress.

That said, I suspect and fear you will be right, more taxes, fewer benefits and no personal accounts. Euro-sclerosis here we come.

[Alberta's Child]

Oddly enough, the Clinton administration back in 1993 had the most realistic approach to “fixing” Social Security in the long run . . . i.e., tax Social Security benefits at current income tax rates. This effectively cut Social Security benefits indirectly without really “cutting” them.

[avacado]

"Is there any real doubt what will be done? Raise taxes and cut benefits. Of course it’s gonna happen."

Yep! And it's just amazing that they are going to increase my taxes to support a system that is based on already taking 12.4% of my paycheck!

Just let me have my dang money! Sheeeze... It's mine!

[zek157]

You could also cut the COLA and inflate the dollar.

[jrsmc]

Raise taxes and cut benefits.

The political solution to all of our troubles is to inflate away the debts.

Real Data (not the govt cooked data) shows that M3 is at 18% and real GDP is at -2% that's 20% inflation = hyperinflation.

[ExSES]

As one who was (for a few years in the early 60s) an SSA employee, it was ORIGINALLY a sustainable program! However, the "usual suspects" (CONGRESSCRITTERS) decided to "expand" benefits to cover all manner of people (in lieu of welfare) and buy votes with extravagant benefit increases!

On top of the above, the CONGRESSCRITTERS began to use "surplus SSA funds" to cover any and all general revenue shortfalls (surprised?)

The end result is, that a rather modest "safety net" which "somewhat resembled "insurance, was transformed into the unsustainable mutant that we have today!

Indeed, the preamble to the original Social Security Act boldly stated that it was to be a SUPPLEMENT to retirement funding!

Obviously..., a sterling example of the proverbial "Camel's Nose Under the Tent"????

[GOP_1900AD]

There is another option. Phase the whole thing out. Do it slowly, but, phase it out.