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Are you suggesting the U.S. government which is currently over 15 trillion dollars in debt and climbing would be better at planing for people's retirement? Bec
by pmorici 14y ago
Are you suggesting the U.S. government which is currently over 15 trillion dollars in debt and climbing would be better at planing for people's retirement? Because all evidence points to the contrary (for example if there is a surplus in social security taxes they spend the money on other stuff instead of saving or investing it). In fact one of the reasons it's so hard to save for retirement these days is because interest rates are being kept insanely low by government policy in order to support the ballooning debt.
What ever happened to spending less and saving more, and since when did having to move into a smaller house and spend less extravagantly in retirement become some horrible hardship that required collective intervention?
- Thrymr 14y agoWell, they do invest the surplus of social security taxes in Treasury bonds and other U.S. government securities: http://www.ssa.gov/OACT/ProgData/describeoasi.html http://www.ssa.gov/OACT/ProgData/describeoasi.html The trouble comes when Social Security stops bringing in a surplus and has to start redeeming the trust fund. Then the Treasury has to start paying back the ~$3 trillion it will have borrowed. We'll see how that goes.
- simonh 14y agoGreat idea! I have some surplussavings. What I'll do is lend it to myself so I can spend it on stuff now, then demand it back from myself in 10 years time. Genius! Except what actually happens is we demand it back from our children after we've retired. Sucks to be them.
- Cushman 14y ago> the U.S. government which is currently over 15 trillion dollars in debt As opposed to US consumer debt which is only, what, 11 trillion?
- pmorici 14y agoConsumer debt is an individual personnel choice, government debt is not.