From the Star-Telegram preview of his latest book:
In its 240 pages, Perry covers a wide range of federal issues far beyond those he's touched on repeatedly on the campaign trail this year. He calls social security a "failure" and compares it to a Ponzi scheme.
To post this comment click here:
Otherwise click cancel.
http://www.nytimes.com/2010/03...
In the next 10 yrs a lot of starts are going to have to make some hard choices with regards to cutting benefits for retirees. I am not sure how you can't say social security is not a failure based on the current structure it will be done in 25 yrs. I know that unless changes are made (raising when you collect it, or decreasing payouts) I won't see a dime when I hit the age to collect
Unless your math is different, the defined benefit plans are going to eat up to large a percentage of city, state and county's budgets
Actually, this is largely a problem in the minds of simple people, like Rick Perry. Keep in mind, Rick Perry has consistently underfunded TRS and as a result, it's going to have problems in the future. Of course, the horrible decision making of his appointees has also contributed to the underfunded state.
It's not that the program was designed badly, it's that it was administered badly and the assets were managed poorly. That's Rick Perry's fault, not the retirees. Not exactly the same thing as the alleged issue with SS, just worth mentioning in the context of 'Rick Perry doesn't have a clue'.
This argument about benefit cuts is rather silly. I think the only people buying it are the ones who don't understand finance or would like the system privatized so their company can manage a piece of it. That would be Pete Peterson's reason. I write for Treaty Oak (because, you know, it can't type).
I'm also glad that I've been away from the computer for most of the last few days because I was blockwalking and phonebanking. What has a bigger impact right now: me talking to your neighbor on the phone, convincing her to get out and vote for Democrats, or you anonymously trashing people on the internet?
/I apologize in advance for not responding to what will surely be a witty retort from you. I'm going to be back out in the real world, trying to get Democrats out to vote.
I have news for them. You Republicans would have been better off banging on your neighbor's doors. For the more your thugs try to intimidate minority voters in Houston the more determined they become. If voters were going to vote a mixed ticket they'll sure as hell vote straight D now.
I love how people can't stay on point in regards to the comment section. Is understanding the math involved in the social security/defined benefit plan problem too difficult to understand.
Libby, do you live in Houston?? I do and voted at West Gray and believe me if there was all of this mythical voter intimidation out there it would be on the local news and the state reps for these areas (all Dems) would be out complaining. But they aren't because it is not happening.
Most people do not vote in this country. They have no faith in the politicans. Or the "political process." The e-machines didn't do much to make people believe their vote counts. Most wonder if the vote they vote is the one recorded. But it's always been a problem. From the beginning.
Tomorrow will be a circus. Everywhere. It's a shame more people don't vote. If the people who didn't would I suspect all the incumbents would be history and we would have a new legislature and a new Congress.
As for Social Security, neither Bill White nor Rick Perry care since they're rich, as Phil Gramm put it with regard to health care reform, and so it doesn't affect them. Our state and federal representatives are rich as well and the few who aren't have nice state and federal pensions. So they don't care either. It is a Ponzi scheme at this point. With forced participation. At some point there will be no money. And Congress will point fingers and just bankrupt our great-great-great grandchildren. Who will probably already be paying 90% income tax to pay for it all. Thanks to our present Congress that believes you can just keep borrowing money and cook the books the way Enron did. Which of course is the way the government cooks its books. Enron used the federal government's model for "balanced books." Which sums up how "balanced" our federal books are.
Medicare isn't turning out to be so wonderful either.
A gay man at the West Gray poll who held a Bill White sign was assaulted by another teabagger thug late last week. Fortunately police intervened and the thug was charged with assault.
You must not read the Houston Chronicle or watch local news.
I really thought it was classic Shackleford, clearly clueless about everything. 10 years from now he'll be screaming about prayer in school and Teh Gays while we're all busy doing other things, like living our lives. I envision him, in his final years, a derelict on the streets of Dallas standing at corners and yelling at pedestrians.
Because that's precisely where he's heading.
I write for Treaty Oak (because, you know, it can't type).
If we had no Federal stimulus, and no fiscal policy, the economy would swing from boom to bust. We would now be in a serious depression, with a huge loss of employement, opportunity and consumer confidence.
Perry is involved with this book to make money from his own supporters. I'm surprised it was not pubished by the John Birch Society press and sold at American Opinion bookstores.
