Social Security Benefits to Rise 5.8 Percent Next Year

[Angel Heart]

50 million on Social Security.... WOW... That's 1 out of every 6 Americans. That's not a good equation considering we haven't even added in the baby boomers.

I'm happy to hear about the increase on the individual but worried that we are only pushing the date that Social Security runs upside down. Where there's more money going out than coming in. What happens then? We need Social Security reform before that happens. It will not please everyone no matter what way we do it.

 

[Care4all]

What is it about benefitting from the bubble is it that you do not understand ?
We will NOW begin to pay for all that shit that looked so great at the time .

so it WASN'T the republican congress as CLAIMED?

what created the bubble and when did it start?

so higher taxes on the wealthy and corporations during a bubble doesn't hurt us or stop a bubble from occuring????

 

[Care4all]

50 million on Social Security.... WOW... That's 1 out of every 6 Americans. That's not a good equation considering we haven't even added in the baby boomers.

I'm happy to hear about the increase on the individual but worried that we are only pushing the date that Social Security runs upside down. Where there's more money going out than coming in. What happens then? We need Social Security reform before that happens. It will not please everyone no matter what way we do it.

34 million are receiving SS retirement benefits

Monthly Statistical Snapshot, August 2008

 

[editec]

Clinton reduced spending particularly by cutting back on welfare. Add to that social side of the reduction in spending, those military cuts he initiated since the cold war was over.


And much of Clinton's fortune as it regarded the revenue side also had to do with Bush I having had the the good sense to raise taxes, too, when it seems necessary, plus eht fact that the Fed was dropping rates, PLUS the increases of productivity from the computer revolution were fginally manifesting, too.

That tax cut probably cost Bush I the relection, so I think we need to remind ourselves that sometimes POTUSs surprise us by taking the right path even when it costs them personally. Kudos to George I, for that brave move.


As to Greenspan, Clinton had no more control over FED desisions than NiXXon ,Carter, or Reagan, did.

The Fed's high rates duing the Nixxon, Ford, Carter and the first two years unders Reagan, were their method of ending stagflation. Those years were rought on economies, too.

Rememgber what the DOW was duing Reagans first two years? Hovering aroud 400, wasn't it? Wasn't his fault.

And then the Fed started easing on rates seriously and the "REAGAN miracle happened" ...remember that? That's wasn't because of him, either.

Presidents do NOT control the economy, folks...the FED does.

Nixxon and Carter didn't destroy the economy, and Reagan and Clinton didn't turn it into miracles, either...the FED controlled all of that by turning on the capital tap or turning it off by fiat, AFAIC.

So what was my point?

Oh yeah, now I remember, doesn't matter who is POTUS, they won't be in charge of our economy.

We handed that control over to private bankers who dominate the FED in 1913.

I think the FED broke the economy, folks. I don't think they meant to, but they certainly SNAFU'd it this time.

Ombama or McCain they won't be able to fix it as long as the FED runs the economy...which is obviously does.

 

[Care4all]

What is it about benefitting from the bubble is it that you do not understand ?
We will NOW begin to pay for all that shit that looked so great at the time .

also dillo, we had a HUGE housing bubble under president bush, no?

How come the republican congress for 6 years under bush couldn't balance their budget if it was the bubble or was the republican congress that made the clinton era financially sound as implied? huh?

that should give you some pause on your opinion...

 

[WillowTree]

I just heard seniors that made $1090 will make $1160. Not exact numbers, but very close. I remember it wasn't quite $100 increase.

1 month before the election? Are republicans good or what. Welcome back Florida to the Red states.

dooooooooooooh! Last time I checked Democrats were in the majority!

 

[MalibuMan]

If we can afford a couple wars I think we can afford to give our seniors enough money to buy food.

You think only old people are on Social Sec?

My son is 9 and has been getting a SS check every month for the last 4 years.

 

[Care4all]

You think only old people are on Social Sec?

My son is 9 and has been getting a SS check every month for the last 4 years.

fyi!
It's not the same program as the social security retirement program and does not come out of the SS payroll tax that we pay for our own retirements, though the Social security administration does handle the distribution of such...

 

[MalibuMan]

fyi!
It's not the same program as the social security retirement program and does not come out of the SS payroll tax that we pay for our own retirements, though the Social security administration does handle the distribution of such...

FYI. My son is getting money from his mom's social security she paid in while she was alive. He gets 858 dollars a month until he is 18.

 

[Care4all]

FYI. My son is getting money from his mom's social security she paid in while she was alive. He gets 858 dollars a month until he is 18.

ohhhhh, excellent....i am certain it helps you rear him without your wife...

i still believe this involves early death insurance benefits, which does not come out of retirement benefits though administered by the SS dept....but not 100% certain....will look it up....

care

UPDATE:

i was wrong and thinking of SSI payments so you are right, that does come out of payroll taxes!

SSI- Immigrants who had never paid into the system became eligible for SSI benefits when they reached age 65. SSI is not a Social Security benefit, but a welfare program, because the elderly and disabled poor are entitled to SSI regardless of work history. Likewise, SSI is not an entitlement, because there is no right to SSI payments.

 

[Zoomie1980]

"Right now many senior citizens are feeling depressed because things seem out of control. They feel like they are in a boat being whipped around by rough seas," said Sung Won Sohn, an economics professor at the Smith School of Business at California State University. "Their purchasing power has been going down because of higher prices for food and energy and a lot of other things while their savings have taken a hit because of what is happening in the markets."

In the past two months....

Fuel prices are down almost 50%!!!

Food prices are down 22%

The overall cost of living has DROPPED at an annual rate of 20% the past two months......

Not sure where these idiots in these articles are getting the data. It's certainly not current.

 

[Zoomie1980]

i would suggest you check your facts....

clinton RAN on reducing the deficit, WHICH HE DID....

House narrowly approves Clinton's economic package. / nwi.com

without the help of any republican's vote on his economic plan...

What he did, worked....while the repubs swore it would be the end of the world for America.... they had to EAT THEIR WORDS when all was said and done....

I don't discount he had the help of the republican congress, but what set us on that road was Bill clinton's economic plan and deficit reduction plan that was passed his first full year in office....

to deny such is ignoring history.

he reduced the budget deficit to zero and then for two years the budget had a surplus...THAT'S A FACT, not fiction....it might have even been 3 years, i will have to double check....and there is no spin that the otherside can provide that discounts the facts about the budget deficit reduction that was accomplished under Clinton... sorry!

Clinton didn't "DO" anything. Not one single Clinton initiated domestic legislative initiative was passed by any Congress in either term. Not ONE!!! the single biggest domestic piece of legislation in his 8 years was Welfare reform, which was rammed down his throat by a Republican majority. His Capitital Gains cut was another congressional action rammed down his throat against his will. He could have vetoed both but didn't for reasons unknown.....

Those are the FACTS.

 

[Skull Pilot]

i would suggest you check your facts....

clinton RAN on reducing the deficit, WHICH HE DID....

House narrowly approves Clinton's economic package. / nwi.com

without the help of any republican's vote on his economic plan...

What he did, worked....while the repubs swore it would be the end of the world for America.... they had to EAT THEIR WORDS when all was said and done....

I don't discount he had the help of the republican congress, but what set us on that road was Bill clinton's economic plan and deficit reduction plan that was passed his first full year in office....

to deny such is ignoring history.

he reduced the budget deficit to zero and then for two years the budget had a surplus...THAT'S A FACT, not fiction....it might have even been 3 years, i will have to double check....and there is no spin that the otherside can provide that discounts the facts about the budget deficit reduction that was accomplished under Clinton... sorry!

http://findarticles.com/p/articles/mi_m1282/is_n16_v48/ai_18614099/pg_2?tag=artBody;col1


how much of the credit for the impressive drop in the deficit this year does the Administration deserve? The standard spin from the White House these days is that the "enormous progress" on the deficit vindicates the Clinton "$500-billion deficit-reduction" package of 1993. It turns out we can roughly calculate how much of the deficit decline is attributable to Clinton, and how much to Newt Gingrich and the Republican Congress. Back in April 1995, just before the Republicans released their seven-year balanced-budget plan, the CBO announced that Clinton's deficit-reduction plan would produce $211 billion of red ink in 1996.

Instead, the deficit will fall to $117 billion. That's a $94-billion improvement -- almost entirely attributable to the GOP budget. Over the entire seven-year budget window, the Gingrich plan chops a shade over $1 trillion ($1,000,000,000,000) of deficit spending from the Clintonomics baseline.

The budget deficit would be lower still had it not been for Bill Clinton's vetoes of Republican Medicare, Medicaid, welfare, and appropriations bills. Those vetoes canceled an estimated $10 to $15 billion in budget cuts for 1996 -- savings that would have been magnified in future years.

read the whole article

 

[sparky]

summation>>>>i think we're going to get the tired part of retirement....

 

[Ravi]

It's always so funny to read things here about Clinton.

If a piece of legislation Republicans supported was signed by Clinton, it was rammed down his throat, unless of course it turned out to be bad legislation...in that case Clinton forced the Republicans into supporting it.



The funniest concept Republicans ever claimed for themselves is the concept of personal responsibility.

 

[Care4all]

http://findarticles.com/p/articles/mi_m1282/is_n16_v48/ai_18614099/pg_2?tag=artBody;col1


how much of the credit for the impressive drop in the deficit this year does the Administration deserve? The standard spin from the White House these days is that the "enormous progress" on the deficit vindicates the Clinton "$500-billion deficit-reduction" package of 1993. It turns out we can roughly calculate how much of the deficit decline is attributable to Clinton, and how much to Newt Gingrich and the Republican Congress. Back in April 1995, just before the Republicans released their seven-year balanced-budget plan, the CBO announced that Clinton's deficit-reduction plan would produce $211 billion of red ink in 1996.

Instead, the deficit will fall to $117 billion. That's a $94-billion improvement -- almost entirely attributable to the GOP budget. Over the entire seven-year budget window, the Gingrich plan chops a shade over $1 trillion ($1,000,000,000,000) of deficit spending from the Clintonomics baseline.

The budget deficit would be lower still had it not been for Bill Clinton's vetoes of Republican Medicare, Medicaid, welfare, and appropriations bills. Those vetoes canceled an estimated $10 to $15 billion in budget cuts for 1996 -- savings that would have been magnified in future years.

read the whole article

the article is wayyyyy too partisan and biased and old for me to take stock in...you shouldn't either...
Leadership is what lead the repubs down the RIGHT road, just look what the repubs did without leadership, under GWB...
Care