Re: Re: Re: What Really Happened To CT Farm Country (Central Tractor)

Posted by Jim WI on April 25, 2002 at 10:44:21 from (63.161.86.254):

In Reply to: Re: Re: What Really Happened To CT Farm Country (Central Tractor) posted by Mike on April 24, 2002 at 13:18:53:

You're right that the budget now includes SS taxes taken in and SS benefits paid out. It didn't used to be calculated that way.

However, the problem is worse than that. The SS "Trust Fund" is invested only in federal government bonds. The trust fund has been running higher income than expenses for quite a few years now but is anticipated to begin having higher expenses than income some time around 2013 or so. At that time, the trust fund will have to cash in some of those bonds. Where do you think the money to pay those bonds will come from? Somehow I don't expect we'll sell off any of the property owned by the government -- I'm expecting some pretty hefty tax increases unless something changes dramatically.

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