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The only part that I disagree with is where Tucker says, “The ‘Social Security Crisis’ will occur when, because of demographic shifts, this annual surplus vanishes over the next 12 years. Suddenly, Congress will no longer have that $100 billion to plug the budget gap every year.”
p>First, the crisis will occur in five years when the annual surplus crop of social security cash starts decreasing. At this point, Congress, used to annual growth in all expenses, will find the deficit is growing much more rapidly than in recent years. To fill the void, Congress will do what it has always done: increase its borrowing each year. By the time 12 years have passed, Congress will, like the proverbial frog in a pot of slowly heating water, not realize that it is time to jump and continue to borrow. There is no “suddenly” that might jolt Congress into action. br> — Hugh A. Dempsey /p> p> Thank you, thank you, thank you. br> —
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