Quote:
|
Originally Posted by flstf
Oh, I don't know, maybe something like 1000% inflation or when I go to buy bread they won't accept my little pieces of paper with pictures of dead presidents on them.
|
Agreed! The money won't be very useful.
The break down isn't at a magic point. If money halves in value every year, is that a broken monitary system?
Right now the economy is growing at a steady 3% (real) rate with relatively low unemployment. If that is your standard, 1% with 50% more unemployment (ie, 5% to 7.5%) is 'bad'.
The great depression was really fucking bad. People starved.
Quote:
|
Originally Posted by KMA-628
From the SS website: LINK
I really have no idea where you are getting your information from, specifically regarding all the "supposed to" comments. |
You object to my claim that social security was redesigned to have a surplus in the 1980s, so when the pig in the python started retiring that accumulated surplus would be availiable?
I can find citations. Possibly on the web, but definately somewhere, if you want them.
Quote:
|
Unless I am reading this wrong, self-supporting is the same thing as "pay-as-you-go".
|
I assumed you meant "pay-as-you-go" to mean "you use this year's revenue to pay this year's expenses". I am disagreeing with that -- maybe that isn't what you meant. Possibly that was the design at one point, but it was changed in the 80s by R.R.'s administration.
At the same time, theoretically social security could carry a debt -- this could be wise in some demographic situations (a high retiree-to-worker ratio that is expected to drop rapidly), because social security has a future income stream to borrow against. Practically, this won't be nessicary until at least 2050+, if I remember correctly.