| In his State of the Union Speech, our
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| | If it is privatized, at least 10 percent
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| president said entitlements, including
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| | of everyone's check will go toward
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| social security, disability and Medicare
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| | 'administration fees' of the company
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| need to be fixed because the fund is
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| | receiving the money to invest. Then
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| depleted.
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| | deduct the broker's fee also.
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| According to the May 2007 report of the
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| | People receiving Social Security do not
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| United States Treasury Office of Economic
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| | need a 'middle man' to handle their money
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| Policy, Social Security and Disability
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| | and charge a fee for doing so.
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| funds available at the end of 2006 were
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| | Payments into the Social Security, or the
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| Seven Hundred Forty-Five Billion Dollars.
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| | Entitlement Fund, are not to be
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| This is far from being depleted as the
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| | co-mingled with taxes collected. These
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| president warned of. All the dire
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| | payments are put into a special 'fund'.
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| predictions we hear are because of
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| | Therefore, the government should not be
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| Hospitalization costs are rising
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| | able to use this money for anything else.
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| exponentially. It is not Social Security
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| | A few years ago, the government started
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| or Disability that is in trouble, as the
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| | taking money out of the Entitlement Fund
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| president alluded to, but medical costs.
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| | and giving IOU's.
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| All numbers quoted are directly from
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| | Over the next ten years Social Security
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| government reports, see below.
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| | and Disability fund assets are expected
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| One hundred sixty-two million people
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| | to double - after 2017 the treasury will
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| contributed to the entitlement fund in
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| | start to pay back what the government
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| 2006, not one hundred twelve million as
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| | 'borrowed' from the entitlement fund -
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| the president said. Perhaps he
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| | this should keep the fund solvent for
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| erroneously deducted the 50 million that
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| | about twenty-three years or through the
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| are receiving benefits. Thirty-four
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| | year 2041. My calculator does not have
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| million are retirees who paid into the
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| | enough places on it to figure out what 23
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| fund, seven million are minor dependents
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| | times 745 billion dollars come to, but
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| of people that died, nine million are
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| | apparently that is how much the
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| people on disability who had also
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| | government raided the entitlement fund
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| contributed to the fund.
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| | for. A quick guess would be almost 20
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| Our president said that Social Security
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| | trillion dollars.
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| should be privatized. This means every
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| | The warning of the entitlement fund being
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| recipient entitled to receiving Social
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| | depleted, and the suggestion of
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| Security, or Social Security Disability,
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| | privatizing reminds me of a public
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| will have to give part of their payment
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| | service commercial on television. It
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| to a broker to invest for them. This is a
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| | reminds me of - 'we are the good
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| win win situation for Wall street and the
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| | telemarketers and senior citizens have
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| stock market, but a Lose Lose situation
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| | had their identity long enough'. Now
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| for Social Security recipients as the
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| | replace 'identity' with social security
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| majority of them live from social
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| | checks.
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| security check to social security check.
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