A Fiscal ‘Tsunami’

I think letting the people that have salaries over 90K pay social security is a fair, just, part of a solution. However, we must remember that there are very many small businesses under 10 employees that this will hurt. Business owners pay the 7.5 percent on their salary but in effect, since they own the business the business pays the matching 7.5 percent (which really means the business owner pays 15% SS). Many small biz owners try to keep their salary under 90K for this reason. Small biz is an important driver in the economy and there should be some kind of exemption for them since they are really getting doubly taxed.

I think this is a truly exceptional article, and fits every piece of data I have seen. Unfortunately I do not believe that our government is capable of addressing the issue. And I do not believe that the American people of today have the sense of duty to the country to support the tough changes that are required. We have run away from every responsibility since the Korean War. This is not the greatest generation. Our grandchildren will simply have to pay the price as the US becomes the next France.

In making cuts the author completely left out the Department of Human services, the department of education and the agriculture department among others. These are just a few. As far as means testing Social Security goes why would any middle class worker save a dime if they knew that they would be punished with benefit cuts on the back end. Finally, why are American workers put at the end of the line on a bankruptcy deal. I don???t hear anybody talking about cutting the return on Chinese investment money.

In making cuts the author completely left out the Department of Human services, the department of education and the agriculture department among others. These are just a few. As far as means testing Social Security goes why would any middle class worker save a dime if they knew that they would be punished with benefit cuts on the back end.

It is easy for politicians to talk about reducing the benefits of Social Security and of Medicare. The are in the wealthy class and will never need it for the retirement years to survive.

I would like to hear a discussion of our National debt and how it relates to our National net worth. As individuals our net worth is the important number, not our individual debt. Secondly, when individual debt is discussed on a national level, is consideration given to the offsets provided by our retirement plans, such as 401.k's or 403.b's?

Congress is the one out of control by consistantly raiding the SS fund along with the administrations for what ever they deem.
How much SS dollars does the US Governent owe to the SS fund?
dsilva@copper.net

And why doesn't congress change it back to a trust fund that is not touchable for starters.
Also since congress is the body that is at fault their pensions should also be rolled back and repeal the law that allows them to receive the same medical coverage that they receive now that is certainly much better than medicare.
And now Nancy Pelosi and Clinton want to give SS to the illegal aliens.

you think President Bush is going to make all his rich cronies be taxed? i don't think so. That's why he ran for President. To line his pockets with the regular person out here. His and his cronies, brothers, etc. He was never in it to help the people. It's all about the money. Greed, that's what it's called. The more they have, the more they want. They just act like they're trying to help people. I truly believe he is the anti-christ. Always smiling and acting all religious. Yeah. But his day will come. Everyone has to pay for what they leave this world. That's just the way it is. May God help him. He's going to pay for all the injustice, he and his so called Vice President. We all know who really runs everything @ the whitehouse. He's just for show. Just a puppet that Cheyney plays with and uses.

Mr. Walker makes a lot of great points. But please don't call this a "bipartisan" problem. It is the republican party that wants to relentless cut taxes as a way to get votes and as tool to cut services.
Secondly, I wish someone would please explain how we came to cap the social secury taxes at a middle class salary of about $90K and exempt. How can we burden the poor and middle class far more than wealthy people? It is just perverted.
Thirdly, testing people for their lifestyle is absolutely absurd; How many cheeseburgers would we be allowed to have for a certain premium? The idea of insurance is to spread risk, not isolate it. The government can educate people in far more productive ways.

Hey, I know...instead of just releasing the crack dealers from federal prison, let's let everyone (murderers, rapists, gangbangers, terrorists, etc.) out. I'm sure we would save tons of money by not feeding and housing them.

We should end our empire abroad, take the savings and buy annuities for all those who are dependent on SS and let young people completely out. It is an unconstitutional program to begin with and never should have been started. Medicare and Medicaid have caused the health care crisis in this country. Health care is the only area where technology has not caused a decrease in prices. This is due to government subsidization and regulation. Let's get back to the basics and obey the constitution. Let's elect officials that don't promise to rip off the taxpayers to give us a benefit. Let's elect the only man running for president that has a clue about the pending disaster. Vote for Ron Paul. http://www.ronpaul2008.com

I"ve often wondered how and why we got ourselves invovled in Iraq to clean up
what we've had to...policing the world at a cost of what $billions monthly...and then be told by a gov't that Social Security isn't so secure after all.....seems to me
that we should just come up with billions out of the clear blue...like this Iraq mess has caused us and dump the same amount toward social security..why not?
We really think the terrorists are abroad when in essence the gov't will be creating the same when Soc Sec. payments are due...shame on the gov't for thinking those on Soc Security are too feeble to fight for what they've had taken for years!

if you remove the entire ceiling on both medicare and social security on income for individuals you would remove the problems of a shortage of Social Security and Medicare. The problem lies that the people of influence have more to lose. Therefore it will never happen. They will say that business will suffer. One would only have to leave those control in place. Anyway how does an individual paying individual taxes effect the product cost anyway it really shouldn't.

Lastly, if you think about the CEOs that walk way with serverance packages in the millions would close that gap quickly. The inequality of life hardship.

David Walker for President. None of the current candidates are worth voting for

this is something that ought to make every voter in this country shutter in his boots. It just reinforces how irresponsible our elected officials are and what they they will do to the people of this country for politics

This should be required reading for everyone in this country. National "financial security" should not involve outsourcing the holding of our country's debt to financial institutions in China. This is exactly what we are doing. How stupid is that?

This should be required reading for everyone in this country! National "fiscal security" does not involve spending and having the Chinese hold our debt. How stupid is that?