Social Security = 15 trillion dollar cost?

[byronm]

Is it true the 1-2 trillion dollar figure is only the first 10 years and the new plan allows for borrowing of 15 trillion dollars over the next 45 years to make it "solvent"??

Heard this on morning sedition this morning and i wasn't even aware of the 45 year plan..

thats NUTS

[shraby]

1. If they just put that money into the current

social security fund, there would be no problems for a loooong time. As it is, social security is in fine shape for quite a while.

[byronm]

3. If they just raised the ss cap on deductions

we would be fine..

Many economists say there is more money in SS than could ever be spent even at current and future "baby boombing" retirement levels.

[papau]

2. They use a 75 year time frame to get a 3 trillion problem, but a 10

year time frame to get a $2 trillion dollar transition cost.

Over 75 years - apples to apples - the transition cost is 15 trillion dollars