Delphi bankrupt; GM to Follow; the CEO Speaks

[moomin]

Heh. Here I come back to 'Poly for a helping of Civ godness, now that IV is imminent, decide despite better judgement to visit OT, and find an actual interesting thread. Will wonders never cease?

Good speech, btw, except for the bits that are a tad too unsubtly a public staking out of a negotiating stance vs. GM. Does not, however, materially detract from the rest.

[Zkribbler]

Originally posted by DanS
I know that my generation is only going to be paying for SS, not receiving it.

Not true. Even if no changes are made to Soc. Sec., recipients can receive their full payments until 2050. At that point, we'll have to make a choice: drop benefits by 20% or increase the retirement age to 70.

The only thing that will bk the system is if Bu****es manage to privatize it, bleeding off what would have been incoming funds and moving these monies into private accounts.

[DanS]

It didn't even last past the second page.

In any event, I don't think those numbers are correct. I think the drop in benefits would be more like 30% - 35%, or the increase in Social Security taxes would be almost 40%.

[mrmitchell]

In any event, I don't think those numbers are correct. I think the drop in benefits would be more like 30% - 35%, or the increase in Social Security taxes would be almost 40%.

You're right. Social Security is probably a lost cause. But I think I've found a way to help with the coming energy crisis:

Take all the Republicans who are trying to make up horror stories about the future of Social Security, and put them all in one room facing in one direction towards a lot of wind power turbines. Have a sacrificial Democrat in the room to spark the discussion (with a comment like "gee, isn't the idea of NOT tossing our geezers out onto the streets a great plan?"). Then, as all the Republicans start up, all the hot air they're letting out will rotate the turbines and eliminate our foreign dependency forever...

[Alexander's Horse]

I'm in a defined benefit scheme

[child of Thor]

I plan to 'self-sufficient' my way when i'm old and retired - my grandparents did it through the war and still keep it going at a surprising rate these days in their 80's. In the next few years i plan to move closer to them to finish of my 'education' before its too late and thier knowledge is lost to my future generations.

I dont believe in debt - never have and never will, i always live within my means and have made myself adaptable to change.
Still a big storm is coming on these issues, blank cheques cant keep being underwritten and one day it will come home to roost.
All it will take is ...say a few misguided wars or some such?

[Alexander's Horse]

that article is very thoughtful - how did that guy ever end up in business?

[DanS]

That's just the way things work in the US. The high flyers have good choices beyond the iron rice bowl of government employment.