Heavy Lifting - thoughts and web finds by an economist
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Thursday, March 25, 2010

Uh oh - grab your wallet

On second thought, you might want to grab your 401(k) and IRA's:



Forecasts are remarkably bad (see my post earlier today), but if the current forecast on net SocSec payouts is on the the "right" side of the real number line, that is the negative side, then this would seem to provide an impetus for the federal government to start considering:

a) nationalizing private pensions, 401(k), and IRA funds (la Argentina)
b) requiring private pensions, 401(k), and IRA contributions be put toward Federal Treasury Bonds (ala this voluntary-conversion proposal)
c) trying to kick the can down the road some how by making small changes in retirement age, removing the payroll cap, increasing the payroll tax, reducing benefits.
d) make SocSec means tested (this is my personal bet, along with everything in point c)

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