Americas budget plan....we know that there are some issues with it and I'm going to talk about one of them. Social Security. A lot of us know by now that Government will be spending more money than it takes in. Of course this is a huge problem. Bush proposed that we start private investment plans but people say that there are less dramatic ways to keep the system strong.
A reason that the social security system is going bankrupt is that the government is promising more to retirees than it can afford. They haven't been cutting programs or raising taxes so there isn't any money coming to keep the program stable. The program wasn't supposed to be a national retirement program but it evolved into one anyway. Now they are talking about cutting benefits for everyone except those in need and offering private investment accounts with president favors. These would have to be the way to save the program. Others argue that the system is strong the way it is and that the short falls can easily be averted without hurting the economy. the people arguing this say that the program is a national retirement plan that works, you put in your money and in return you get the benefits out of it.
The Supporters say that the program currently runs a surplus and financially brings security to millions of people. They also say that it can be shored up with modest fixes like raising the caps on earnings that can be taxed for Social Security, and gradually raise the retirement age.
I honestly don't know how I fell about this whole thing. It will affect me but by the time that I'm old enough to retire there won't be social security. All i know is that they need to get moving on this soon. I don't want to have to work until I'm 95. Here's a link to a paper talking about this.
There are more issues with the budget here are two other links
http://jamiescurrenteventsblog.blogspot.com/2010/02/issue-1-war-dollars.html
http://megananderson2010.blogspot.com/2010/02/issue-2-spending-what-we-cant-afford.html
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