Joe Doakes from Como Park emails:
Social Security admits outgo will exceed income in four years, as older workers retire and start taking money out instead of paying it in. They think they can stave off disaster until 2034, if the General Fund will repay the IOUs it has written over the last 40 years. But everyone agrees that eventually, the program will collapse unless changes are made.
Liberals claim the program can be saved by small changes. I don’t think that will work.
Social Security is like trying to fill a bathtub that you forgot to plug. When the bath faucet was running full blast, the water level was good. But when you begin to close the bath faucet, the water coming in can’t keep with the water going out. Eventually, the tub runs dry.
The small changes that Liberals propose are like adding water from the sink. By teaspoon.
It’s not going to work.
That’s what I wish the presidential debates would have covered. “Candidates, how will you solve this problem?” I already know Hillary’s plan is to tax the rich (use a tablespoon instead of a teaspoon). I would have liked to hear the details of Trump’s plan.
The problem we have is that both parties have suggested they can “solve” the problem – not just Social Security, but the entire debt and deficit issue – via means that cause no pain to the taxpayer, or in Hillary’s case only pain to other taxpayers.