Word: trust
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Dates: during 1990-1999
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According to The Bloomsbury Dictionary of Words, while the word "love" initially meant "find pleasing," it later took on associations with "praise," "trust" and "belief." Thus, the etymology and experience of love resemble each other quite closely. As far as we can tell, both are first about pleasure, later about admiration but finally about trust...
...first episode of the Story of Monica and Bill required the country to get used to the very idea that the President of the United States might have fooled around with an intern and then tried to hush her up, the second installment dared us to trust him. The first week was an All-Starr game, in which a crusading prosecutor, after 3 1/2 frustrating years of sniffing through sour Arkansas land deals, suddenly swooped down on the White House, subpoenas in hand, FBI agents in tow, asserting his right to ask just about anyone just about anything that...
...money that Social Security takes in through FICA taxes exceeds what it pays out in benefits. This year alone, Social Security's surplus will be about $100 billion. That money is held in a trust fund; the value of that fund now exceeds $500 billion. However, because the government spends more on other programs that it takes in, it "borrows" from the Social Security trust fund. For example, this year the government will spend about $50 billion more than it has, but it will borrow Social Security's $100 billion surplus...
...according to moderate estimates, FICA taxes will not cover expected outlays, and Social Security will have to dip into its trust fund (meaning that the rest of the government will have to pay Social Security back). By about 2029, that fund will be depleted and Social Security will only have the money to pay out 75 percent of expected benefits. This is the core of the Social Security problem...
...Fans of the current system wish to solve this imbalance by "tinkering." For example, some combination of benefit cuts, modest tax increases, a change in the investment portfolio of the trust fund and an increase in the retirement age could shore the system up for the next 75 years. Proponents ask why we should radically reform a program that has been so effective for so long. Opponents say that "tinkering" will not be a permanent fix and that there may be a cheaper way to get greater benefits...