Social Security--Is it really a fix?

[Theresa Lynn]

President Bush says that if we don't fix social security, there will be 30% cuts in benefits because the fund is inadequate. Yet, under the Bush proposal, the cuts will be approximately 27% for the middle class and all but the very poor. The wealthy already are capped, so they probably would not be affected. So, perhaps my background as a math teacher, a CFP certificant and tax lawyer is inadequate....could someone explain why this is a FIX?

I don't follow the logic.

Thanks!

Theresa Lynn

[Demosthenes]

That's because there are two kinds of mathematics, math in the real world and math inside the Beltway. One always comes up with the same answer given the same problem, the other tends to impart spin to any problem and answer. Reminds me of an old joke;

Three applicants for a job meet with the CEO who says "I only have one question for each of you, what is 2 plus 2?"

The first applicant pulls out his TI scientific calculator, performs various functions and confidently announces "The answer is 4."

The second applicant, a finance major pulls out his laptop starts Excel, runs various scenarios and says "The answer is conclusively 4".

The third applicant, a government economist, looks back at the CEO and slyly says "What do you want it to be?"

With apologies to mathematicians, finance majors, and some governement economists.

[Bird]

No, it's not a fix. It's a distraction. The real problem is an out-of-control operating deficit, which has been masked by the SS surplus.