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Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur
Actually, last generation spent their money paying for social security for the previous generation...just like we are currently paying for the previous generation. The concern is that we are reaching the tipping point where there will not be enough people or income tomorrow and in the futre for future generations. Social Security today is solvent. As I understand it it is expected to be solvent well into the 2020's. After that...unless there is massive change...not so much.
That's a mathematical impossibility. Your generation already spent the money that should have gone toward your social security benefts on other things and now you want to double dip.
As such, you're not asking us to "work just like you did," you're asking us to work a lot harder than you did AND to forego a much more sensible retirement solution than SS because you've been so irresponsible. And you want to paint *US* as the heartless ones.
Actually, last generation spent their money paying for social security for the previous generation...just like we are currently paying for the previous generation. The concern is that we are reaching the tipping point where there will not be enough people or income tomorrow and in the futre for future generations. Social Security today is solvent. As I understand it it is expected to be solvent well into the 2020's. After that...unless there is massive change...not so much.
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