Jacksonville Jaguars Fan Forums - Choke On It, Liberals

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(08-09-2018, 02:50 PM)mikesez Wrote: [ -> ]
(08-09-2018, 02:29 PM)jj82284 Wrote: [ -> ]U said ur an engineer right? Prove it. Let's see if u can spot ur mistake

...that's not how engineering works. Engineers check each other's work when it's new and important. The only time an engineer works alone is when the thing is exactly the type of thing he or she has done before. It's very hard for any human to find their own mistakes in something he is trying to complete for the first time. Mentoring is part of the process for this reason.

(08-09-2018, 02:47 PM)Byron LeftTown Wrote: [ -> ]Underfunded Social Security is not a problem. $72 billion magically appears in the accounts of recipients every month. It is nothing but a ledger entry.

Underfunded pension plans are a huge problem, though. They are required to have the money they pay out.

Right. The US Treasury can print new money for SS at will.

Other pension programs don't have that nifty feature.

....are we all in agreement that "printing money at will" for any program is probably a bad thing?

(08-10-2018, 10:43 AM)Kane Wrote: [ -> ]
(08-09-2018, 02:50 PM)mikesez Wrote: [ -> ]...that's not how engineering works. Engineers check each other's work when it's new and important. The only time an engineer works alone is when the thing is exactly the type of thing he or she has done before. It's very hard for any human to find their own mistakes in something he is trying to complete for the first time. Mentoring is part of the process for this reason.

Right. The US Treasury can print new money for SS at will.

Other pension programs don't have that nifty feature.

....are we all in agreement that "printing money at will" for any program is probably a bad thing?

Yeah, it's not a great idea. But sometimes it's the only idea.
There are a few mechanisms by which the Treasury introduces new money into circulation. Quantitative easing was a new one.
The danger with expanding the supply of money is that it can create inflation. But inflation only happens when the economy, or a sector of it, is running at full capacity.

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