Word: socialism
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Dates: during 1980-1989
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Some analysts doubt that the expected 40-year buildup in the Social Security fund will come to pass. Ben Wattenberg, a senior fellow at the American Enterprise Institute, predicts that within the next decade, soaring health- care costs could overwhelm the Government's Medicare fund, which is partly financed by the same payroll taxes that go for Social Security. If that happens, he says, Congress might keep Medicare going with money from the retirement fund. "And when that money has paid for Medicare, who will finance the retirements of the baby-boom generation?" he asks. Welcome to the budget debates...
...TMFONT 1 d #666666 d {Source: Social Security Administration}]CAPTION...
...Social Security Trust Fund assets in trillions of dollars...
DESCRIPTION: Social Security Trust Fund assets, 1980 and projected into 2050; color illustration of older woman in rocking chair...
...used to be. Incumbents with huge campaign chests scare off all but the most fearless challengers. Add to money the other advantages of incumbency -- free broadcast studios, newsletters that are printed and mailed to constituents at the taxpayers' expense, a staff that helps hundreds of local voters get Social Security checks -- and it is no wonder that only 50 of the 435 House races are being genuinely contested this year...