America needs to live within means

To the editor:

Would you believe it? Social Security does not have a crisis. The current and preceding administrations have perpetuated a financial problem. For decades, administrations have spent money accumulated by America's faithful workers in the Social Security Trust Fund and replaced it with promises (bonds). Accumulations in this fund are estimated to run as much as $5 trillion by the time the funds are needed to supplement payments to future retirees -- enough to last for as much as 50 years. Now the crisis looms that there seems no way to pay this money back.

America has not yet learned to live within its means. The real crisis is that it may never learn. However, there is time for America to wake up, to step up and to keep its promise to itself.

GILBERT DEGENHARDT, Cape Girardeau