Social Security In 2033

[Toro]

Your brain isn't working !

Your brain isn't working !

Are you disputing the 2033 cave in date ?

As is, 75% of promised benefits will be paid in 2033.

Only if the assumptions at that point hold up.

What that is based on (as I understand it) is that is the direct flow through of money...what gets collected in January.....gets paid out in February.

The 75% is based on a health economy.

We take a hit like we did in 2008 and that could drop significantly.

It works the other way too. Strong growth will push it out.

We have been growing below trend because of the collapse in the Housing Bubble. That will right itself.

 

[Listening]

As is, 75% of promised benefits will be paid in 2033.

Only if the assumptions at that point hold up.

What that is based on (as I understand it) is that is the direct flow through of money...what gets collected in January.....gets paid out in February.

The 75% is based on a health economy.

We take a hit like we did in 2008 and that could drop significantly.

It works the other way too. Strong growth will push it out.

We have been growing below trend because of the collapse in the Housing Bubble. That will right itself.

My GUESS is that the projection is not based on an anemic economy.

What is so scary is that if I am right....a prolonged recession could see benefits cut within the next 10 to 15 years.

 

[Listening]

Monthly Statistical Snapshot, March 2012

Average check is 1150/mo.

That is the AVERAGE.

That means that a when benefits go to 75%, a great many people might be living on $500 to $600/month.

What a great program !