Bob wrote:Today is not exactly like the 80's.2seaoat wrote: It is exactly where we were in the 80s
There wasn't an enourmous wave of baby boomers about to become beneficiaries in the 80's.
We hadn't yet outsourced millions of middle class wage jobs in the 80's. Jobs that once contributed the revenues to keep social security healthy.
The government wasn't $16 trillion in debt in the 80's and there wasn't as large of a portion of government revenues needed to pay interest on the debt making that money not available for other expenditures like social security.
The early part of the baby boomers are also dying off as well. Many, like my father (born in 1942) worked hard, physical jobs and their health is failing. My dad was a parachute rigger in the Navy for 31 years. I think swimming in Pensacola Bay behind NAS in the winters while training AOCs in water survival really took a toll on his body along with the thousands of PLFs he demonstrated in the near ten years he spent at NASC during two tours of duty. Even as a Master Chief he was quite hands on with the work just before he retired. He has bad knees that cause him lots of pain for which the Navy pays disability, but they totally dissed him on the hip injuries sustained which causes him even more pain now and in need of a hip replacement that the VA refuses to acknowledge as part of the issue. While working as an electrician at the North American Mission Board after losing his job with Enron (thanks Ken Lay), he had a seizure while up on a ladder doing some HVAC work. He was not allowed to drive for six months after that which caused him to lose that job because he had no way to afford cab fare to work. He eventually got SS Disability about 5 years ago, but still, he wanted to work and would do so today (he can drive now), but he's just physically unable due to the hip and knee issues. You can't do HVAC and Electrical if you are unable to bounce up and down ladders.