Social Security: Near-Bankrupt

[JimBowie1958]

They should let folks opt out of SS, I'd rather my kids invest that 6% privately than get 12% that the government plays with for 40 years with unknown end game results. The whole thing is a safety net for stupid folks who fail to plan for their retirement - it's outlived it's time, and its affordability as well. It should be phased out, just like we should phase out retirement for gov workers; another benefit that's outlived it's time/affordability. While I do agree SS is a debt that we must pay to the older folks who already paid in their whole lives (and planned their retirements with SS in mind,) the younger folks who are starting work now need to be responsible for their own futures again. Sunset it.

The only problem with that is that SS goes into the general budget and then Congress steals it right out in the open.

 

[Political Junky]

Social Security cash flow suddenly negative | Washington Examiner

Here’s something I didn’t know, from financial blogger Bruce Krasting (via John Ellis): Social Security tax receipts for the first half of 2010: $346.9 billion; Social Security benefits payments for the same period: $347.3 billion. Before this year, projections have always been that Social Security wouldn’t cross that line into negative cash flow for five years or so. Now it’s a reality. Congress has been spending Social Security’s positive cash flow for years. Now there’s no positive cash flow to spend.

Ten years before the worst doomsayers predicted, Social Security has become a net drag on the budget...and will continue to grow our near-catastrophic national debt.

The Mooney Times and other wingnuts have been reporting this for decades.

 

[danielpalos]

Capitalism died in 1929. Socialism has been bailing it out, ever since.

Implementation of certain socialist policies and practices does not constitute an established Socialist system.

Yes, it does. Socialism has been bailing out capitalism, ever since 1929.

 

[danielpalos]

Capitalism died in 1929. Socialism has been bailing it out, ever since.

Implementation of certain socialist policies and practices does not constitute an established Socialist system.

Social Security no more establishes a Socialist SYSTEM than my singing in the shower constitutes opera.

roflmao, Gawd, no it does not

dears, simply using the Other Peoples money and adding to the Peoples' debt, is socialist, not capitalist.

Only the right wing, never gets it.

 

[EverCurious]

They should let folks opt out of SS, I'd rather my kids invest that 6% privately than get 12% that the government plays with for 40 years with unknown end game results. The whole thing is a safety net for stupid folks who fail to plan for their retirement - it's outlived it's time, and its affordability as well. It should be phased out, just like we should phase out retirement for gov workers; another benefit that's outlived it's time/affordability. While I do agree SS is a debt that we must pay to the older folks who already paid in their whole lives (and planned their retirements with SS in mind,) the younger folks who are starting work now need to be responsible for their own futures again. Sunset it.

The only problem with that is that SS goes into the general budget and then Congress steals it right out in the open.

True, and sadly that's why it'll never go away. Politicians have never had any problem stealing their grandkids money to pay for their toys [pet projects.]

 

[deanrd]

Near bankrupt?

It will be able to pay out full benefits until 2035 and after that, revenue coming in covers 79%.

Do some research.

 

[deanrd]

In 2035, I'll be 80 and if I'm still alive I'll be at the tail end of the Baby Boomers.

Republicans only want to cut benefits to figure out a way to move even more money to the wealthy. We know that for a fact.

 

[EverCurious]

No the GOP wants to cut shit to pay for their pet projects, same as the DNC does. Politicians suck ass, nothing new.

 

[MikeK]

Capitalism died in 1929. Socialism has been bailing it out, ever since.

Implementation of certain socialist policies and practices does not constitute an established Socialist system.

Yes, it does. Socialism has been bailing out capitalism, ever since 1929.

So in spite of the presence of thousands of millionaires, hundreds of billionaires and a raging stock market, you believe the U.S. is a socialist society? Do you have any idea of what socialism is?

 

[deanrd]

No the GOP wants to cut shit to pay for their pet projects, same as the DNC does. Politicians suck ass, nothing new.

They have one project. Just one. A single project. The redistribution of the wealth of the nation to the top 1%. That's it. That's all they have. In fact, it's all they want.

 

[EverCurious]

No the GOP wants to cut shit to pay for their pet projects, same as the DNC does. Politicians suck ass, nothing new.

They have one project. Just one. A single project. The redistribution of the wealth of the nation to the top 1%. That's it. That's all they have. In fact, it's all they want.

And you're a partisan hack who's intellectually dishonest...

 

[danielpalos]

Capitalism died in 1929. Socialism has been bailing it out, ever since.

Implementation of certain socialist policies and practices does not constitute an established Socialist system.

Yes, it does. Socialism has been bailing out capitalism, ever since 1929.

So in spite of the presence of thousands of millionaires, hundreds of billionaires and a raging stock market, you believe the U.S. is a socialist society? Do you have any idea of what socialism is?

Yes, I do. Unlike the right wing, I understand socialism is the organization of society via a social contract.

We have a Constitution.

 

[danielpalos]

No the GOP wants to cut shit to pay for their pet projects, same as the DNC does. Politicians suck ass, nothing new.

They have one project. Just one. A single project. The redistribution of the wealth of the nation to the top 1%. That's it. That's all they have. In fact, it's all they want.

Only socialism does that.

 

[RealDave]

Don't worry! Obama is going to "bend the cost curve on health care". Then we can use those savings to save Social Security! What we really need is another Stimulus!!!! Let's just Tax the rich!! Get some skin in the game!! To each according to his needs....

PS - I have some nice swamp land in Florida for sale too, it's in the path of development......

It did. Health insurance costs increased at a slower rate under the ACA>

You people are the most uninformed pack of idiots ever.

 

[RealDave]

Social Security cash flow suddenly negative | Washington Examiner

Here’s something I didn’t know, from financial blogger Bruce Krasting (via John Ellis): Social Security tax receipts for the first half of 2010: $346.9 billion; Social Security benefits payments for the same period: $347.3 billion. Before this year, projections have always been that Social Security wouldn’t cross that line into negative cash flow for five years or so. Now it’s a reality. Congress has been spending Social Security’s positive cash flow for years. Now there’s no positive cash flow to spend.

Ten years before the worst doomsayers predicted, Social Security has become a net drag on the budget...and will continue to grow our near-catastrophic national debt.

Lying fuck

Income still is larger that outgo.

 

[MikeK]

Yes, I do. Unlike the right wing, I understand socialism is the organization of society via a social contract.

We have a Constitution.

You really don't know what you're talking about.

If we inhabited a socialist state and you were found to be profiting from lending money and collecting interest on the debt, which is just one very basic form of capitalism, you would be tossed into prison -- or stood against a wall and shot.

Unless you don't mind making a fool of yourself by blathering on about something you know nothing about I suggest you take a night course on basic government and do some reading.

 

[danielpalos]

Yes, I do. Unlike the right wing, I understand socialism is the organization of society via a social contract.

We have a Constitution.

You really don't know what you're talking about.

If we inhabited a socialist state and you were found to be profiting from lending money and collecting interest on the debt, which is just one very basic form of capitalism, you would be tossed into prison -- or stood against a wall and shot.

Unless you don't mind making a fool of yourself by blathering on about something you know nothing about I suggest you take a night course on basic government and do some reading.

Projecting much, right winger? I gave you a valid argument.

We have a Constitution. What a difference, a Constitution, makes.

 

[Staidhup]

Back to the topic, the two problems confronting Social Security are simply people are living beyond age 65 and the income threshold cap, beyond which one does not have to pay into social security. The cap was adopted as to create the perception of equality in that a single high wage earner earning over $127,200 would not have to pay the 6.2% SS tax because they would never receive the benefit from the program. So abolish the limit and you reduce a substantial portion of the unfunded liability and transform it into what FDR visualized. So how equal is that to the man that earns less than $127,200 his whole life and the one that works in the ivory tower?

The overwhelming issue remaining is the use of the funds collected and rate of return received investing the corpus in US backed Bonds, which anyone on a fixed income will know yields about the same as or less then the rate of inflation. Oh well, carry on, I just had to get this off my chest.

 

[Zander]

Don't worry! Obama is going to "bend the cost curve on health care". Then we can use those savings to save Social Security! What we really need is another Stimulus!!!! Let's just Tax the rich!! Get some skin in the game!! To each according to his needs....

PS - I have some nice swamp land in Florida for sale too, it's in the path of development......

It did. Health insurance costs increased at a slower rate under the ACA>

You people are the most uninformed pack of idiots ever.

Wrong.

Obamacare failed to "bend the curve".

Effects of the ACA on Health Care Cost Containment
What Happened to Bending the Cost Curve? - AAF
ObamaCare’s Failed Cost Controls
Obamacare Was Going to Lower Health Care Costs. What Actually Happened.
Why Obamacare Failed to Lower Healthcare Costs – Healthcare in America

We are now spending nearly one out of every five dollars of our national income on health care, far in excess of other developed countries.

 

[danielpalos]

Let's end the drug war to help pay for healthcare.