Discussion in 'Politics' started by Truthmatters, Feb 6, 2012.
5 myths about Social Security - 1 - retirement savings - MSN Money
If you want to know the truth about Social Security, don't ask a politician or a pundit.
There's just too much misinformation floating around about the retirement system, and it's coming from both sides of the political spectrum. Some on the left claim that everything is just dandy and no major changes need to be made, which is hogwash. Some on the right claim the system is irreparable, which is hooey as well.
Stranded in between are the confused millions who contribute to and benefit from the system. They just want to know if Social Security will be there for them when they need it.
The answer is yes, if the politicians can ever get their acts together.
And if nothing is done before 2037 the Government still has to find the money from somewhere to pay back the IOU's and as your link states that will cause problems long before 2037.
If nothing is done BEFORE 2037, in 2037, assuming ( big assumption) that the current rate of people paying in stays the same and the number drawing benefits does not increase more then projected, only 75 percent of the money needed to pay for benefits will be available.
The program is in jeopardy and no one seems to want to do anything about it. And no we can't just keep changing when people are eligible to draw their money.
Since you are a lefty, perhaps you could tell us what the left plans to do about Social Security? The right has presented several plans over the years and all have been ignored.
What has the right presented besides "partial privitization"? That would have only reduced the money being paid into it even more (worsening the situation) and face it, we all know how the stock market has been doing. Diverting SS money into investments would have proved disasterous.
This is the 4th post since the thread was started 45 minutes ago. Why is it still labelled "Old"?
Its a liesmatters thread....
her hack shit gets old fast.
Here's how they think they're going to avoid the gallows when the system collaspes:
"Over the years, the surplus has been lent to the federal government to pay for other programs. In return, the trust fund received IOUs in the form of special-issue, interest-paying Treasury bonds. These bonds are backed by the full faith and credit of the U.S. government, just as regular Treasurys are."
Note "Special issue" bonds, these are bonds that can't be sold to anyone other than the US government (ie: Wampum)
So assuming you have a 401K, are you going to be OK when the powers that be decide to roll them into your SSI "account" ?
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