Saturday, December 18, 2004

Social Security Info

"Social Security is just fine. There won't any problems with it until . . . "

For a long as I can remember, the primary argument concerning Social Security has been not that it will eventually go broke, but when.

With me, it went in one ear and out the other for decades. At first I was young, mid-twenties? With so many working years ahead, what did it matter? Besides, Social Security had always been there -- which, of course, isn't true but it seemed that way -- so it always would be!

In reality, it won't.

The system is on the path to its own self-destruction by dint of its very design and pay-as-you-go structure.
From the Wall Street Journal, background information on the crumbling pyramid scheme known as Social Security: Without reform, it will destroy itself

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