Habu, ya might re-read your response and ask yourself whether it’s you or me running the voter registration drive to build a “End-it-don’t-mend-it” coalition on Social Security.

Here’s the problem. There are only three avenues open to us on Social Security. One, tax the hell out of everyone working to continue paying current benefit levels to retirees. Even if younger generations had a more sympathetic view of the Boomers, that just won’t be sustainable given the damage done to our economy. Take a look at Allen Barton’s “Holy Bleeping Expletive” PJTV Financial review. The numbers just don’t work. Like I said before, there’s too much work to be done rebuilding our economy – as a society we can’t afford to have all the money going to people who aren’t doing the work. Retired Boomers won’t be doing the work.

Option Two is to continue mortgaging the country to China. Assuming they will continue to be willing and able to buy. They’ve got a huge population implosion coming themselves. Their massive savings have been an effort to deal with their looming people shortage, but as Europe is finding out, money is a poor substitute. China may decide their national savings binge isn’t going to work and try something different (frightening to contemplate what that might be). And even if they are willing to continue funding us, if you think my 23 year old nephew, who could probably bench press you and your 300 lbs, is going to work for Chung Kim so you can have a cushy retirement, you’ve made a slight miscalculation. Even so, given the numbers, we don’t have enough equity left in the old Homestead to fund the Boomers all the way through their retirement, especially once the credit rating slips. You should fear the country being forclosed on by China more than letting GenX supervise your heart medication. China will have enough of their own old people. If they have to start trimming budgets over here as part of the takeover, they’re not going to need blue-haired Americans.

Option three is to repudiate Social Security obligations. Truth is, at some point, we are going to have to repudiate something. We won’t be able to afford the payments on everything we’ve obligated ourselves to. Nothing bitter or emotional about that analysis, the numbers are dispassionate. So, we’ll have to choose, and the country will choose to screw the old folks, because they won’t be part of the future.

Limited “mend-it-don’t-end-it” measures won’t work. Means-testing might have worked years ago, but the recent market crash plus Obama pouring gasoline on the embers will destroy whatever private savings most Boomers had. You may be the exception, but if we start means testing, most of your generation will fail the test. Not enough savings to be had there. Same with raising the retirement age, unless we’re willing to raise it to 107. Any sort of “mending” of Social Security that actually solves the problem will be indistinguishable from ending it.

If you’ve got another way to solve the problem, let me know.