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Fixing the Fiscal Cliff Will Hasten Entitlement Crisis

John5507 Wrote: Nov 22, 2012 2:42 AM
If we had given the SS money to the degenerate, criminal gamblers on wall street in 2004 there would be nothing left RIGHT NOW. Did you miss the meltdown and the subsequent taxpayer funded bailout of the banks that would have had all that money? State pension funds alone lost billions to these criminals and you'd like to give them all of the SS money? That's insane. As is stocking up on canned goods water and ammo.
Robert97 Wrote: Nov 22, 2012 8:45 AM
John, check it out. The Dow Jones Index and similar measures have mostly recovered from the 2009 lows. If SS had invested in stocks, like in Chile, there would be plenty of money for retirees.
Panda Wrote: Nov 22, 2012 5:34 AM
I love how John blames Wall Street--and not the government cronies who empowered them.

You're a riot, John. Not very bright, but still a riot.
The coming fiscal cliff's mix of tax hikes and spending cuts are projected to seriously hamper economic growth over the next two years, and Congressional leaders would be wise to negotiate fixes for the problems. One of the more popular potential fixes, however, is only going to hasten the coming entitlement crisis by worsening the finances of Social Security.

A one-year extension of the employee-side payroll tax cut was passed in December of 2011. It's scheduled to lapse along with the other fiscal cliff policies in 2012. This is a particularly popular tax cut because it goes by and large...