[R-G] [BillTottenWeblog] Borrowing from Peter to Pay Paul

[Intense Red]

   An excellent article, full of info and interesting ideas. Sadly, I don't 
see such a system emerging. The ruling class will try to fix the existing 
system and barring a larger collapse, there exists no large social movements 
to pressure the gov't to reorganize the system.

   I would disagree with one point in the article:

 > Interestingly, Social Security and Medicare themselves are in some sense
 > Ponzi schemes, since earlier retirees collect their benefits from the
 > contributions of later workers. These programs, too, may soon be facing
 > bankruptcy, in this case because their mathematical models failed to
 > account for a huge wave of Baby Boomers [...]

   While those programs have been expanded somewhat, the increase in lifespans 
and retirement of the baby boomers have long been calculated and modeled. 
This was the key reason for Carter's series of large increases in FICA taxes. 
He wanted to start saving for their retirement. The key problem was that the 
SS trust fund money was spent by Reagan, Bush Sr., and succeeding presidents.

-- 
George Bush said the US was "addicted" to oil. Remember, addicts have been 
known to commit murder to feed their addiction.