In response to:

Study: "Debt Problem Began Four Decades Ago"

elko-mike Wrote: Jan 22, 2013 1:01 PM
Yes, but it creates a moral hazard and disconnects individuals from the cost of their decisions. That recipe creates bad signals to markets and with politicians controlling the checkbook rapidly becomes inefficient, wasteful, and too expensive. As a matter of fact more than 30 countries have found that it is best to let people earn their benefits rather than bestow them from government, and thus they've privatized their systems. See http://www.conservativedailynews.com/2012/10/the-real-reason-why-democrats-do-not-want-to-privatize-social-security/
elko-mike Wrote: Jan 22, 2013 1:49 PM
"and it is but this hand-to-mouth retired element that should at all receive Social Security upon retirement "

There are several questions that need to be answered before such a strong assertion can be made reasonably. I assume you have all the answers.
1. Is it the role of government to step in?
2. If so what level of government?
3. Are you assuming SS is a national program when you make this claim?
4. How do you prevent a moral hazard?
5. What about reasonable rates of return?
6. What about survivor benefits?
7. How are assets to be managed if this is a government program?
OBAMA-DRAMA Wrote: Jan 22, 2013 1:04 PM
elko...

What I posted must become law of this land... nothing different... and nothing less.
A new report from the Federal Reserve Bank of St. Louis reminds Americans that, contrary to the narrative that huge deficits and debt are merely a recent product of the Great Recession, the problem began over forty years ago.

Daniel Thornton, the St. Louis Fed's Vice President and economic adviser, finds what conservatives have been saying all along is true: it's steadily increasing government spending, not a lack of tax revenues, that's causing all of this.

[A]fter 1970, both revenues and expenditures increased on average relative to the previous two decades; however, revenue increased marginally while...
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