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truedelphi's Journal
Posted by truedelphi in General Discussion
Mon Oct 31st 2011, 08:39 PM

The article has the words "Brain Damaged" in the header. Currently it is the top article, but if not, you'll need to scroll down.

http://www.tinyrevolution.com/mt/archives/...


<snipping out two important paragraphs>

Specifically regarding Social Security, we're currently transferring about 4.2% of U.S. gross domestic product from current workers to retirees. To pay promised benefits, this will have to increase to 6.2% in 2035 and then decline to 6.0% in 2050 and remain there. (See the 2011 Trustees Report for details.) Those are the only numbers that matter, not what the trust fund was "invested" in.

And this is simply not a problem for a rich society like the U.S. The economy continually grows more productive—95.8% (100-4.2) of today's economy is a lot smaller than 93.8% (100-6.2) of the economy of 2035. So people working in 2035 can produce enough for all the promised Social Security benefits and still be much richer than workers today.

####

My two cents - I threw this link into a small file and added it to my Hard Drive.

http://www.ssa.gov/oact/trsum/index.html
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