You are entirely correct, Sir.<quoted text>Never too late.
Take it off line and repay the money they took out of it with int at market rate to start. then put the " tax" [ fica] rate back to where it was.
And make it against the law for the gov. to raid it again.
any investment the S.S. system puts money into should be insured and give the fund a market rate of return.[ not some 1% fed bond thing ]
There are a lot of things that could be done to save it.
Have a nice day
But I would take the additional obvious step of taking the program out of the federal government's hands altogether. Leaving it with them is like leaving a proven recidivist drunk access to the car keys. They WILL crash it again. They cannot help themselves. It is IMPOSSIBLE to "make it against the law for the gov. to raid it again," because the Congress you're counting on to "make it against the law ... " are the same irresponsible deadbeats who are going to raid it! That's putting the fox in charge of the henhouse.
Let's not be that stupid AGAIN. Enough is enough - and 70 years of experience with the permanent professional political class in Washington should be more than enough to tell these fraudsters "you're FIRED" as far as being responsible custodians of the Nation's retirement security is concerned.
Friedman's paper here - http://www.socialsecurity.org/pubs/articles/b...
... is just as valid now as it was in 1999.
If only his advice had been followed then.
But as you say - it is not too late now.