McCain Vows To Take On Entitlement Plans »
Posted By bigurn 3 months ago in NewsIn a move to assuage Conservatives, John McCain has vowed to reduce spending on entitlement programs such as Social Security. This is a dramatic move for him, but has proved difficult to execute for every other politician who has tried it.
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bigurn
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bigurn3 months ago
This is a move to solidify his base, much as Obama has moved to the center to solidify his base. I don't know that there is a consensus about how to resolve the coming Social Security problem, but the longer we wait to do something the more likely it is that taxation will be left as the best option.
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libsRfunny3 months ago
Taxation never is a best option, but sometimes it is the only option. I like the investment option Bush tried to get through. But the AARP is powerful and will stand in the way of any kind of meaningful reform.
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baddad59Comment removed: User banned.19 Replies
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cptnkrk3 months ago
That plan was very modest in scope. 5% of the total SS money paid in any given period.
I was lucky early on and did not have to pay SS (until I got a different job). I invested the amount I would have paid for those 14 years in private funds instead. My retirement income will be significantly higher than SS even if I don't pay in any more.
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Wolfie20073 months ago
I also liked Bush's social security investment plan, it's too late for me but it would be wonderful for my children and grandchildren. They instituted a similar plan in Chili back in the 80's and it works great for them.
I despise the AARP. The AARP fleeces old folks all the while telling them how much they care. The AARP are an organization of confidence men.
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jimdoze3 months ago
The AARP is a stick-it-to-the-kids organization. Before long, each worker will be working half the year to involuntarily support a dozen bingo players.
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cptnkrk3 months ago
Most people seem to join the AARP for the discounts they offer. My father recently quit the AARP after I showed him the causes they were supporting in his name and showed him a place he could get the same deals without the AARP baggage.
They claim they represent all their members but in truth many (if not most) members don't know or even care what they are doing in their names.
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aniokly3 months ago
More, and more Americans are deciding on their own to provide for their own financial future. Government has never been the answer if you want to be independent. A governemnt that can do anything for you can do anything to you. We often discuss what would happen if the Government took away the S S check? While life woud be difficult we would survive.
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aniokly3 months ago
When we are young we don't think about older age. We bought stuff like Nike when no one even thought about sponcering Michael Jordan, and my Uncle told us to save 10% of our income. Just 10%. It adds up quickly. and you don't even notice. Yes, we didn't have lots of money, we were not rich so it can be done.
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flyonthewallzz3 months ago
I have the budget in front of me, in another computer.
I have filtered for discretionary spending and filtered out the DOD. (About $600 billion)
FY2007 I get a total of about $450 billion.
The list still contains some heavy hitters that I think y'all may not consider entitlement spending. Such as The VA, The Dept of Homeland Security, The Dept. of Energy (nuclear weapons), The dept. of Justice.
I then took the list and filtered it to my best guess as to what type of discretionary spending a conservative may not wish to pay for and I got about $174 Billion.
(health, education, Social services, pollution control ect.).
Before you holler at me, let me make it clear that I was only looking at discretionary spending. I was looking at his freeze in discretionary spending concept.
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flyonthewallzz3 months ago
As a point of interest: at first glance it appears that the interest on our dept. is about FY2007 $240 Billion but it really was more like $445 billion. ( there are negative numbers added to the column that come from collecting interest from Social insurance contributions)
I don't know how he could swing it?
If I appear to be spinning, I apologies. Ask me to look up something and I will do so objectively.
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bigurn3 months ago
The DOD is part of discretionary spending. I would like to see a gradual reduction in DOD expenditures with the lessening of our involvement in Iraq (probably starting FY09) and over two terms, just for fun.
Could it be possible to pay for most of the discretionary spending concept with a concurrent reduction in DOD expenditures, on the assumption that current Iraq/Afghan expenditures are truly discretionary?
Assume 5% reduction in 09, rising 5%/year over two terms.
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