Beware of steps 'safeguarding' the Social Security System

[lib2DaBone]

http://www.marketwatch.com/story/beware-of-safeguarding-social-security-2010-08-17


PORT WASHINGTON, N.Y. (MarketWatch) -- Contrary to widespread belief inside the Beltway, the Social Security System will not run out of money anytime soon.

In the name of "safeguarding" the Social Security System, the pols are prepared to back such measures as raising the retirement age, hiking income subject to Social Security taxes and reducing the annual cost of living adjustment. This will boost revenues while reducing benefits, thereby keeping the trust fund flush with money.

The high unemployment rate has reduced the number of workers paying taxes into the system, while at the same time it has encouraged many to retire as early as age 62, rather than at the full retirement age of 68.

Once the economy gets back on its feet, income should once again exceed outgo -- at least for a few years.

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No Tweaking allowed. The Goldman Sachs boys want our Social Security money so they can speculate in CHINA... this can not be allowed to happen.

Why did Mr. Obama unleash these dogs at a time like this?

[glitch]

1. Good question. My guess is because some corporations are withholding 1.3 Trillion from the economy.

And this is their ransom to release it.

However considering his appointments and since he appointed an old Clinton hack (Bowles) heavily invested in 'tweaking' Social Security, it may very well coincide with his own idealogy.

[mike r]

2. Fox 'safeguarding' henhouse

is more like it