Friday, February 25, 2005
Social Security saved! (?)
Sabo to introduce Social Security planAh, now if you are smarter than the Congressman and can see why increasing the interest rate on the bonds in the trust fund won't contribute a whit towards covering the government's cost of financing Social Security, then you can see why the current interest rate on the bonds in the trust fund, and indeed the bonds themselves, do not contribute a whit towards covering the government's cost of financing Social Security.
U.S. Rep. Martin Sabo, D-Minn., announced today that he will introduce a bill in Congress that he says will guarantee Social Security solvency through 2080 by increasing the interest rate on Treasury bonds in the Social Security trust fund... [StarTribune]
On the other hand, if you think increasing the interest rate will ease the future cost of financing Social Security, hey, then don't be piker about it -- increase the rate enough so the trust fund will cover the cost of Medicare too. Then we'll all be home free with our retirements!