The Babe Theory Of Political Movements.
Mar. 21, 2005 11:50 AM
Iran's Sham Election In Houston.
June 20, 2005 5:36 AM
Yes, Kanye, Bush Does Care.
Oct. 31, 2005 12:41 AM
Health Care vs. Wealth Care.
Nov. 23, 2005 3:28 PM
Americans Voting With Their Feet.
Nov. 30, 2005 1:33 PM
Idea Majorities Matter.
May 12, 2006 6:15 PM
Twilight Zone Economics.
Oct. 17, 2006 12:30 AM
The "Shrinking" Middle Class.
Dec. 13, 2006 1:01 PM
From Ashes, GOP Opportunities.
Dec. 18, 2006 6:37 PM
Battle Between Entitlements & Pork.
Dec. 21, 2006 12:31 PM
Let Economic Freedom Reign.
Dec. 22, 2006 10:22 PM
Biggest Health Care Moment In Decades.
July 25, 2007 4:32 PM
Unions Antithetical to Liberty.
May 28, 2008 11:12 PM
Right To Work States Rock.
June 9, 2008 12:25 PM
Social Security Reform Thursday.
March 13, 2008
Caption Contest: Enter Today!
Due: July 29, 2008
The Carnival Of Classiness.
Mar. 14, 2006
Quotational Therapy: Obama.
Apr. 4, 2008
Mainstream Melee: Wolfowitz.
May 19, 2007
Pundit Roundtable: Leaks.
July 9, 2006
A WILLisms.com(ic), by Ken McCracken
July 14, 2006
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Social Security Reform Thursday: Week Sixty-Four -- Contingencies & Solutions.
Thursdays are good days for reform, because they fall between Wednesdays and Fridays. And reform is a long-haul process, not a fleeting event. So we're going to keep plugging along with the case for reform, even as the issue goes off the political radar screen.
That's why WILLisms.com offers a chart or graph, every Thursday, pertinent to Social Security reform.
This week's topic:
Social Security Reform Solutions.
Some interesting graphs, courtesy of Social Security administrator James B. Lockhart III and the American Academy of Actuaries.
First, the meltdown target date, which could be as soon as 2030 or as far away as 2064. Likely, though, the date will be closer to 2041:
However, there's a solution. And it's not "raise taxes and raise the retirement age." The solution is a modernized Social Security system. The solution is protected personal retirement accounts:
The bottom (red) line of today's unchanged program is clearly negative and unsustainable. The two other alternatives are typical reform proposals. They both require about $500 billion (net present value) in general revenue transfers but produce strikingly different results in the long term.
So, intelligent reform of Social Security would yield better benefits, and bring the program into long-term solvency. It's a win-win.
The good news is that, as the National Association of Manufacturers blog points out, more than 160 candidates on both sides of the aisle are coming around to the necessity of reform and signing the non-partisan For Our Grandchildren pledge (which you can download here in .pdf format).
It's time for all 435 members of Congress, and all 100 Senators, to sign this pledge. It's time for vulnerable Republicans (electorally-speaking) to stop being so defensive/evasive about Social Security reform. It's time for Democrats to stop scaring old people and stymieing reform entirely. It's time for solutions, not kicking the can down the road.
It's time for reform.
Previous Reform Thursday graphics can be seen here:
-Week One (Costs Exceed Revenues).
Posted by Will Franklin · 26 October 2006 05:22 PM
Right you are Will! It's time for all Members of Congress to sign the For Our Grandchildren Pledge. And I hope that you and your readers will encourage them to do so by signing the For Our Grandchildren Challenge to Congress at:
And while you're at it, check out the transcript of Jim Angle's GREAT story about the FOG Pledge that appeared tonight on Brit Hume's Special Report.http://forourgrandchildren.typepad.com/blog/
Maybe next Thursday you can create a chart from the video clip!!
Posted by: Heidib at October 26, 2006 08:32 PM
Will, thanks so much for your continued documentation of the issues facing Social Security.
I know I've posted some of the information below before, but it really bears repeating in light of the commitment by so many congressional candidates this week to fix Social Security.
All of the following figures can be verified by consulting the Trustees' reports at http://www.ssa.gov/OACT/TR/TR06/index.html.
-- The current Soc Sec shortfall is now $13.4 Trillion. That's up from $10.5 T just three years ago. Most of the increase is simply because of the loss of time.
Leadership means addressing problems before they become intractable crises. It's time to get this done.
Posted by: Feverishb at October 27, 2006 06:30 AM