Tuesday, March 29, 2005

Subject: Let’s ride out the problem: Larry if the Social Security problem is due to a combination of demographic facts: the baby boom retirement bubble and the spending of Social Security surpluses (generated largely by the productivity of the baby boomers) that should have been saved to shore up the program. Here is what I don’t get: If the baby boom represents a population bubble, the problem is temporary. We just need to wait until that generation dies off. And if the surpluses were spent on items that should have been paid to by general revenues, then they should be repaid from general revenues. Why can’t Congress suck it up, rescind the tax cuts for the wealthy, repay spent surpluses and ride out the baby boom retirement bubble? MS

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