re: $5 trillion in savings for social security buyouts?

Getting what you put in is still far better.

The average social security check is $1976 today. Obviously that would increase with inflation down the road, but its comparable to interest you would get from money in market instead (if you invested in bonds, not stock) - the primary difference being SS is basically an annuity whereas the rest you would have the principal to fall back on if you needed it

at 5K/month, that's 60K/yr = 4 years pay (250k)

No thank you.....

quote:

---

Inflation would be 5,000% in one year

---

Not if they invested the money. It could hypothetically be deflationary, if it took the $ out of circulation. I don't trust my fellow Americans to do the right thing though

This is a very bad idea. The way out of the debt is austerity: cutting programs and raising taxes. There is no way around it but nobody has the political fortitude to tell Americans the truth. Social Security is 20% of the yearly budget. Medicare and Defense are 13% each.

They’re probably going to have to privatize social security. It should essentially be something akin to a 401k/403b.

They’re definitely going to need to change things to reign in costs on elderly care. I think the government needs to start making their own generics. The government needs to turn the screws on private healthcare providers. I think funding more residency program grants will commodify MDs and broaden availability thus lower costs for expertise.

Doctor lobbies actively work against expanding residency program grants because it constrains supply and makes their salaries much higher. One of the biggest problems in the US health system is the lack of non-specialized/general practice type doctors.

The smart thing to do to fix the cost of healthcare in this country is to end the days of expensive medical school mostly to gate limited residency availability en route to creating a 300k minimum salary professional. MDs need to be more numerous than JDs in this country. And that’s going to end their days of mystifying their profession and gaming the system to keep their salaries through the roof.

Finally, defense. I think this one is as rife with inefficiency as the others but it is the most intractable problem and the most disastrous if its systemic issues get exposed in wartime. I think the dependence on contractors to do daily operations and R&D is the problem. Seeing how Boeing whistleblowers all end up shooting themselves in the back of the head, I am guessing nobody is fixing this one without meeting that fate too.

During the Bush/Gore campaign I would have easily forfeited everything that I had paid in to not have to pay any more. I'm not sure if I would take that deal now, but I would take the lesser of what I paid in and my employer match or 250k if I don't have to pay in anymore. You could even force me to put it into a 401k type of account and charge a 25% penalty if I take it out early.

I'll make 250k in 6 years taking SS. No thanks

My wife and I could be bought with only what has been paid in to social security for our "benefit."