CDZ Social Security Trust Fund will go broke in 17 years

[Zander]

4 steps to ensure the program is properly funded:

1) Gradually Raise "Full" retirement age to 68 - then index to life expectancy going forward.
2) Raise the cap on taxable earnings to cover 90% of earning (about $275,000 today) - index to wage growth so that it remains at 90%
3) Increase payroll tax by 1% (1/2% employer and 1/2% employee)
4) Use chained CPI for COLA increases.

Viola!! Social Security is fixed for 100 years minimum.

 

[Dale Smith]

4 steps to ensure the program is properly funded:

1) Gradually Raise "Full" retirement age to 68 - then index to life expectancy going forward.
2) Raise the cap on taxable earnings to cover 90% of earning (about $275,000 today) - index to wage growth so that it remains at 90%
3) Increase payroll tax by 1% (1/2% employer and 1/2% employee)
4) Use chained CPI for COLA increases.

Viola!! Social Security is fixed for 100 years minimum.

#1 Social Security is a massive Ponzi scheme.

#2 "Da gubermint" doesn't contribute a dime to it. It all comes out of your pocket and that of your employer but they do have the power to "gift" the money to those that never put into the system.

#3 When you are born, a birth certificate is created on bond paper and using actuary tables, they assign it a monetary value and then it is monetized because under the UCC, anything can be monetized and used as a negotiable instrument. The bond matures when you turn 18. By signing up for Social Security and accepting a "benefit', you make yourself a de-facto employee of USA.INC and they become trustee of that bond.

Edward Mandell House had this to say in a private meeting with Woodrow Wilson (President) [1913-1921]

“[Very] soon, every American will be required to register their biological property in a National system designed to keep track of the people and that will operate under the ancient system of pledging. By such methodology, we can compel people to submit to our agenda, which will affect our security as a chargeback for our fiat paper currency. Every American will be forced to register or suffer not being able to work and earn a living. They will be our chattel, and we will hold the security interest over them forever, by operation of the law merchant under the scheme of secured transactions. Americans, by unknowingly or unwittingly delivering the bills of lading to us will be rendered bankrupt and insolvent, forever to remain economic slaves through taxation, secured by their pledges. They will be stripped of their rights and given a commercial value designed to make us a profit and they will be non the wiser, for not one man in a million could ever figure our plans and, if by accident one or two would figure it out, we have in our arsenal plausible deniability. After all, this is the only logical way to fund government, by floating liens and debt to the registrants in the form of benefits and privileges. This will inevitably reap to us huge profits beyond our wildest expectations and leave every American a contributor or to this fraud which we will call “Social Insurance.” Without realizing it, every American will insure us for any loss we may incur and in this manner; every American will unknowingly be our servant, however begrudgingly. The people will become helpless and without any hope for their redemption and, we will employ the high office of the President of our dummy corporation to foment this plot against America.”

 

[Zander]

4 steps to ensure the program is properly funded:

1) Gradually Raise "Full" retirement age to 68 - then index to life expectancy going forward.
2) Raise the cap on taxable earnings to cover 90% of earning (about $275,000 today) - index to wage growth so that it remains at 90%
3) Increase payroll tax by 1% (1/2% employer and 1/2% employee)
4) Use chained CPI for COLA increases.

Viola!! Social Security is fixed for 100 years minimum.

#1 Social Security is a massive Ponzi scheme.

#2 "Da gubermint" doesn't contribute a dime to it. It all comes out of your pocket and that of your employer but they do have the power to "gift" the money to those that never put into the system.

#3 When you are born, a birth certificate is created on bond paper and using actuary tables, they assign it a monetary value and then it is monetized because under the UCC, anything can be monetized and used as a negotiable instrument. The bond matures when you turn 18. By signing up for Social Security and accepting a "benefit', you make yourself a de-facto employee of USA.INC and they become trustee of that bond.

Edward Mandell House had this to say in a private meeting with Woodrow Wilson (President) [1913-1921]

“[Very] soon, every American will be required to register their biological property in a National system designed to keep track of the people and that will operate under the ancient system of pledging. By such methodology, we can compel people to submit to our agenda, which will affect our security as a chargeback for our fiat paper currency. Every American will be forced to register or suffer not being able to work and earn a living. They will be our chattel, and we will hold the security interest over them forever, by operation of the law merchant under the scheme of secured transactions. Americans, by unknowingly or unwittingly delivering the bills of lading to us will be rendered bankrupt and insolvent, forever to remain economic slaves through taxation, secured by their pledges. They will be stripped of their rights and given a commercial value designed to make us a profit and they will be non the wiser, for not one man in a million could ever figure our plans and, if by accident one or two would figure it out, we have in our arsenal plausible deniability. After all, this is the only logical way to fund government, by floating liens and debt to the registrants in the form of benefits and privileges. This will inevitably reap to us huge profits beyond our wildest expectations and leave every American a contributor or to this fraud which we will call “Social Insurance.” Without realizing it, every American will insure us for any loss we may incur and in this manner; every American will unknowingly be our servant, however begrudgingly. The people will become helpless and without any hope for their redemption and, we will employ the high office of the President of our dummy corporation to foment this plot against America.”

Feel free to not collect Social Security.

I want mine. I've paid too much into it!

 

[Dale Smith]

4 steps to ensure the program is properly funded:

1) Gradually Raise "Full" retirement age to 68 - then index to life expectancy going forward.
2) Raise the cap on taxable earnings to cover 90% of earning (about $275,000 today) - index to wage growth so that it remains at 90%
3) Increase payroll tax by 1% (1/2% employer and 1/2% employee)
4) Use chained CPI for COLA increases.

Viola!! Social Security is fixed for 100 years minimum.

#1 Social Security is a massive Ponzi scheme.

#2 "Da gubermint" doesn't contribute a dime to it. It all comes out of your pocket and that of your employer but they do have the power to "gift" the money to those that never put into the system.

#3 When you are born, a birth certificate is created on bond paper and using actuary tables, they assign it a monetary value and then it is monetized because under the UCC, anything can be monetized and used as a negotiable instrument. The bond matures when you turn 18. By signing up for Social Security and accepting a "benefit', you make yourself a de-facto employee of USA.INC and they become trustee of that bond.

Edward Mandell House had this to say in a private meeting with Woodrow Wilson (President) [1913-1921]

“[Very] soon, every American will be required to register their biological property in a National system designed to keep track of the people and that will operate under the ancient system of pledging. By such methodology, we can compel people to submit to our agenda, which will affect our security as a chargeback for our fiat paper currency. Every American will be forced to register or suffer not being able to work and earn a living. They will be our chattel, and we will hold the security interest over them forever, by operation of the law merchant under the scheme of secured transactions. Americans, by unknowingly or unwittingly delivering the bills of lading to us will be rendered bankrupt and insolvent, forever to remain economic slaves through taxation, secured by their pledges. They will be stripped of their rights and given a commercial value designed to make us a profit and they will be non the wiser, for not one man in a million could ever figure our plans and, if by accident one or two would figure it out, we have in our arsenal plausible deniability. After all, this is the only logical way to fund government, by floating liens and debt to the registrants in the form of benefits and privileges. This will inevitably reap to us huge profits beyond our wildest expectations and leave every American a contributor or to this fraud which we will call “Social Insurance.” Without realizing it, every American will insure us for any loss we may incur and in this manner; every American will unknowingly be our servant, however begrudgingly. The people will become helpless and without any hope for their redemption and, we will employ the high office of the President of our dummy corporation to foment this plot against America.”

Feel free to not collect Social Security.

I want mine. I've paid too much into it!

And you should, after all, you paid for it...even including what your employer paid in on your behalf because had they not had to of paid it, they could have paid you more. I just hope you are able to get back a pittance of what you have paid in. People have no clue as to how badly that they have been fucked over.......if they did? There would be a torch and pitchfork party in D.C.

 

[Dale Smith]

4 steps to ensure the program is properly funded:

1) Gradually Raise "Full" retirement age to 68 - then index to life expectancy going forward.
2) Raise the cap on taxable earnings to cover 90% of earning (about $275,000 today) - index to wage growth so that it remains at 90%
3) Increase payroll tax by 1% (1/2% employer and 1/2% employee)
4) Use chained CPI for COLA increases.

Viola!! Social Security is fixed for 100 years minimum.

#1 Social Security is a massive Ponzi scheme.

#2 "Da gubermint" doesn't contribute a dime to it. It all comes out of your pocket and that of your employer but they do have the power to "gift" the money to those that never put into the system.

#3 When you are born, a birth certificate is created on bond paper and using actuary tables, they assign it a monetary value and then it is monetized because under the UCC, anything can be monetized and used as a negotiable instrument. The bond matures when you turn 18. By signing up for Social Security and accepting a "benefit', you make yourself a de-facto employee of USA.INC and they become trustee of that bond.

Edward Mandell House had this to say in a private meeting with Woodrow Wilson (President) [1913-1921]

“[Very] soon, every American will be required to register their biological property in a National system designed to keep track of the people and that will operate under the ancient system of pledging. By such methodology, we can compel people to submit to our agenda, which will affect our security as a chargeback for our fiat paper currency. Every American will be forced to register or suffer not being able to work and earn a living. They will be our chattel, and we will hold the security interest over them forever, by operation of the law merchant under the scheme of secured transactions. Americans, by unknowingly or unwittingly delivering the bills of lading to us will be rendered bankrupt and insolvent, forever to remain economic slaves through taxation, secured by their pledges. They will be stripped of their rights and given a commercial value designed to make us a profit and they will be non the wiser, for not one man in a million could ever figure our plans and, if by accident one or two would figure it out, we have in our arsenal plausible deniability. After all, this is the only logical way to fund government, by floating liens and debt to the registrants in the form of benefits and privileges. This will inevitably reap to us huge profits beyond our wildest expectations and leave every American a contributor or to this fraud which we will call “Social Insurance.” Without realizing it, every American will insure us for any loss we may incur and in this manner; every American will unknowingly be our servant, however begrudgingly. The people will become helpless and without any hope for their redemption and, we will employ the high office of the President of our dummy corporation to foment this plot against America.”

Feel free to not collect Social Security.

I want mine. I've paid too much into it!

And you should, after all, you paid for it...even including what your employer paid in on your behalf because had they not had to of paid it, they could have paid you more. I just hope you are able to get back a pittance of what you have paid in. People have no clue as to how badly that they have been fucked over.......if they did? There would be a torch and pitchfork party in D.C.

One more thing, it TOTALLY pisses me off when neocons claim it is an "entitlement program" when it was your fiat currency being withheld to fund it to begin with. If anyone has an "entitlement program" as it pertains to retirement, that would be those that were and are in Congress that get a sweeeeeet retirement package for serving even one term.

 

[Tax Man]

This has been in the works ever since Saint Ronnie The Ray Goon raided the trust fund to keep his reign in the black. Needles to say repukes never have figured out how they would replenish the fund.

Jesus Christ. How old are you? You speak like a toddler. Reagan is responsible and there was no way to fix it? I recall clearly any attempt to fix it brought outcries from the left as starving recipients.

I have to keep the language simple and the wording plain. That way even you should have been able to understand. Sorry you do not grasp the enormity of the problem he created.

 

[Tax Man]

The problem with the whole Ponzi scheme (for that's what it is) is people who take out more than they put into it.

Which is why it was setup as a trust so it could make money to pay for future debt.

 

[Iceweasel]

The problem with the whole Ponzi scheme (for that's what it is) is people who take out more than they put into it.

Which is why it was setup as a trust so it could make money to pay for future debt.

How much money is in that "trust fund"? Do you know? It's an IOU not a trust fund.

 

[Skull Pilot]

Each year the trustees for the SSTF are required to publish a report to the President and the Congress on the financial condition of the SSTF. This year it came out last friday afternoon, and it ain't good. Excerpts:

The Social Security report finds that the "trust fund" will run out of money in just 17 years. The news only gets worse from there.

The program's unfunded liability over the next 75 years is now $12.5 trillion, which is up from $11.4 trillion last year and $4.7 trillion a decade ago. In other words, Social Security's long-term unfunded liability has increased by 166% in the span of 10 years.

And on a cash flow basis, Social Security is now losing money every year. Last year it was $54 billion in the red. In a decade the annual shortfall will reach $215 billion – after adjusting for inflation.


What it basically means is that unless the SSA program is changed, the checks that SSTF beneficiaries will get will be reduced significantly. If you add in the Disability Insurance (DI) into the mix you get the total OASDI program: (OAS - Old Age & Survivors)

The Trustees also project that annual cost for the OASDI program will exceed non-interest income throughout the projection period, and will exceed total income beginning in 2022 under the intermediate assumptions. The projected hypothetical combined OASI and DI Trust Fund asset reserves increase through 2021, begin to decline in 2022, and become depleted and unable to pay scheduled benefits in full on a timely basis in 2034. At the time of depletion of these combined reserves, continuing income to the combined trust funds would be sufficient to pay 77 percent of scheduled benefits.


The good news is that this problem can be averted. It's called "the Chilean Model," as 2012 presidential candidate Herman Cain put it, in what was his effort to get the voters to get serious about the issue.

The Chilean Model, the system of private savings accounts for retirement, is practiced in 30 countries. It was developed on a nationwide scale by José Piñera, the former labor minister of Chile during the 1970s, when the country was a socialist rubble and the coffers were bare, and it has worked every time it's been tried.


https://www.ssa.gov/OACT/TR/2017/tr2017.pdf

FYI it's already broke

There is not one red cent in the fictitious SS trust fund

 

[Toddsterpatriot]

This has been in the works ever since Saint Ronnie The Ray Goon raided the trust fund to keep his reign in the black. Needles to say repukes never have figured out how they would replenish the fund.

/---- Hey Dope - only Congress can spend the money and President Reagan was saddled with a DemocRAT Congress for most of his administration. As DemocRAT SOTH Tip BELCH O'Neil used to say about every Reagan budget "DEAD ON ARRIVAL." So if anyone raided the SS Trust Fund( Besides there is no such thing.) then it was the DemocRATS.

Trust Fund Data



Ronald Reagan and The Great Social Security Heist
Allen W. Smith, Ph.D. October 11, 2013 Current Events, Retirement Comments (414)

Ronald Reagan was one of the most popular presidents in modern history. As a former Hollywood actor, he had an uncommon degree of charisma. The conservatives absolutely loved Reagan for his efforts to reduce the size of government, but most liberals hated him with a passion. Reagan is still revered by a lot of Americans. This reverence for Ronald Reagan helps to explain how he was able to fool most of the American people to a degree unparalleled by any other modern president. With the help of Alan Greenspan, Reagan pulled off one of the greatest frauds ever perpetrated against the American people.

It is so ironic that many people, today, still believe that Ronald Reagan came galloping up on a great white horse to sound the alarm that Social Security was in deep financial trouble. He then allegedly figured out a solution to the problem and rammed his legislative proposal through Congress in a three-month period. On April 20, 1983, the signing ceremony for the new legislation took place with great fanfare. Below are some of Reagan’s remarks at the signing ceremony.

This bill demonstrates for all time our nation’s ironclad commitment to social security. It assures the elderly that America will always keep the promises made in troubled times a half a century ago. It assures those who are still working that they, too, have a pact with the future. From this day forward, they have our pledge that they will get their fair share of benefits when they retire…

Thanks.
Now do you have a source that actually backs up your claim?

Well you could do a little google search but i guess that is too much work for your lazy ass.

I googled, couldn't find any backup for your stupid claim.
I guess you were wrong.

 

[Toddsterpatriot]

This has been in the works ever since Saint Ronnie The Ray Goon raided the trust fund to keep his reign in the black. Needles to say repukes never have figured out how they would replenish the fund.

Jesus Christ. How old are you? You speak like a toddler. Reagan is responsible and there was no way to fix it? I recall clearly any attempt to fix it brought outcries from the left as starving recipients.

I have to keep the language simple and the wording plain. That way even you should have been able to understand. Sorry you do not grasp the enormity of the problem he created.

Sorry you do not grasp the enormity of the problem he created.

Explain it. With backup.
Unless you have none.

 

[debbiedowner]

Time to raise (or better yet, eliminate) the earnings cap.

They should have eliminated the earnings cap years ago.

BTW a couple or maybe 3 years ago they said at that time it was going to run dry in 13 years. What happened?

 

[Zander]

4 steps to ensure the program is properly funded:

1) Gradually Raise "Full" retirement age to 68 - then index to life expectancy going forward.
2) Raise the cap on taxable earnings to cover 90% of earning (about $275,000 today) - index to wage growth so that it remains at 90%
3) Increase payroll tax by 1% (1/2% employer and 1/2% employee)
4) Use chained CPI for COLA increases.

Viola!! Social Security is fixed for 100 years minimum.

#1 Social Security is a massive Ponzi scheme.

#2 "Da gubermint" doesn't contribute a dime to it. It all comes out of your pocket and that of your employer but they do have the power to "gift" the money to those that never put into the system.

#3 When you are born, a birth certificate is created on bond paper and using actuary tables, they assign it a monetary value and then it is monetized because under the UCC, anything can be monetized and used as a negotiable instrument. The bond matures when you turn 18. By signing up for Social Security and accepting a "benefit', you make yourself a de-facto employee of USA.INC and they become trustee of that bond.

Edward Mandell House had this to say in a private meeting with Woodrow Wilson (President) [1913-1921]

“[Very] soon, every American will be required to register their biological property in a National system designed to keep track of the people and that will operate under the ancient system of pledging. By such methodology, we can compel people to submit to our agenda, which will affect our security as a chargeback for our fiat paper currency. Every American will be forced to register or suffer not being able to work and earn a living. They will be our chattel, and we will hold the security interest over them forever, by operation of the law merchant under the scheme of secured transactions. Americans, by unknowingly or unwittingly delivering the bills of lading to us will be rendered bankrupt and insolvent, forever to remain economic slaves through taxation, secured by their pledges. They will be stripped of their rights and given a commercial value designed to make us a profit and they will be non the wiser, for not one man in a million could ever figure our plans and, if by accident one or two would figure it out, we have in our arsenal plausible deniability. After all, this is the only logical way to fund government, by floating liens and debt to the registrants in the form of benefits and privileges. This will inevitably reap to us huge profits beyond our wildest expectations and leave every American a contributor or to this fraud which we will call “Social Insurance.” Without realizing it, every American will insure us for any loss we may incur and in this manner; every American will unknowingly be our servant, however begrudgingly. The people will become helpless and without any hope for their redemption and, we will employ the high office of the President of our dummy corporation to foment this plot against America.”

Feel free to not collect Social Security.

I want mine. I've paid too much into it!

And you should, after all, you paid for it...even including what your employer paid in on your behalf because had they not had to of paid it, they could have paid you more. I just hope you are able to get back a pittance of what you have paid in. People have no clue as to how badly that they have been fucked over.......if they did? There would be a torch and pitchfork party in D.C.

One more thing, it TOTALLY pisses me off when neocons claim it is an "entitlement program" when it was your fiat currency being withheld to fund it to begin with. If anyone has an "entitlement program" as it pertains to retirement, that would be those that were and are in Congress that get a sweeeeeet retirement package for serving even one term.

It is not an entitlement, it's a government run (sic) insurance scheme.

The only reason it is going broke is because the government is involved.

 

[flacaltenn]

4 steps to ensure the program is properly funded:

1) Gradually Raise "Full" retirement age to 68 - then index to life expectancy going forward.
2) Raise the cap on taxable earnings to cover 90% of earning (about $275,000 today) - index to wage growth so that it remains at 90%
3) Increase payroll tax by 1% (1/2% employer and 1/2% employee)
4) Use chained CPI for COLA increases.

Viola!! Social Security is fixed for 100 years minimum.

Not sure I want to see 68 yr old roofers forced to work to age 68. This is an asinine requirement for getting your benefits. Especially if you WRECK your health getting to retirement.

Raising caps just destroys this whole UNIVERSAL deal. It makes it another welfare program. If that's done, America will never trust any "UNIVERSAL" program again. MAKE it a welfare program. Don't fuck around the edges.

Going to 14% of income for self-employed is a non-starter. It was originally PROMISED never to exceed 1 or 2% of income. So much for the analytics and projections of ANY Govt program.. Chimps could be more prescient.

 

[flacaltenn]

Each year the trustees for the SSTF are required to publish a report to the President and the Congress on the financial condition of the SSTF. This year it came out last friday afternoon, and it ain't good. Excerpts:

The Social Security report finds that the "trust fund" will run out of money in just 17 years. The news only gets worse from there.

The program's unfunded liability over the next 75 years is now $12.5 trillion, which is up from $11.4 trillion last year and $4.7 trillion a decade ago. In other words, Social Security's long-term unfunded liability has increased by 166% in the span of 10 years.

And on a cash flow basis, Social Security is now losing money every year. Last year it was $54 billion in the red. In a decade the annual shortfall will reach $215 billion – after adjusting for inflation.


What it basically means is that unless the SSA program is changed, the checks that SSTF beneficiaries will get will be reduced significantly. If you add in the Disability Insurance (DI) into the mix you get the total OASDI program: (OAS - Old Age & Survivors)

The Trustees also project that annual cost for the OASDI program will exceed non-interest income throughout the projection period, and will exceed total income beginning in 2022 under the intermediate assumptions. The projected hypothetical combined OASI and DI Trust Fund asset reserves increase through 2021, begin to decline in 2022, and become depleted and unable to pay scheduled benefits in full on a timely basis in 2034. At the time of depletion of these combined reserves, continuing income to the combined trust funds would be sufficient to pay 77 percent of scheduled benefits.


The good news is that this problem can be averted. It's called "the Chilean Model," as 2012 presidential candidate Herman Cain put it, in what was his effort to get the voters to get serious about the issue.

The Chilean Model, the system of private savings accounts for retirement, is practiced in 30 countries. It was developed on a nationwide scale by José Piñera, the former labor minister of Chile during the 1970s, when the country was a socialist rubble and the coffers were bare, and it has worked every time it's been tried.


https://www.ssa.gov/OACT/TR/2017/tr2017.pdf

This is the twice a year topic that comes up where everyone PRETENDS that there IS a Trust Fund and that it's just piled DEEP with valuable stuff to be hocked if EVER the SSA income goes negative.

And everyone just put their heads in the sand and PRETENDS the SSA income stream hasn't already gone DEAD ASS BROKE since about 2010. 6 to 8 years AHEAD of the projections.

There is NOTHING of VALUE in the Trust Fund. NOTHING to magically redeem to cover the CURRENT OCCURING SHORTFALLS. And every month, the Treasury gets an IOU from the "Trust Fund" and issues BRAND NEW DEBT -- paid for by China and others to cover the MOUNTING deficits.

That NEW debt is the 2nd time some current victims were robbed. They were robbed when Congress spent the money and put an accounting notation into the off-book "Trust Fund" and NEVER BOOKED THE DEBT on the annual budget. Spent it on mohair subsidies and bullets and bureaucratic fantasies.

Then the same working poor that got robbed find TODAY -- that same amount PLUS ficticious interest is RE-FINANCED in their names by issuing ACTUAL Treasuries in order to write the checks. That's the 2nd theft.

This is all a farce. Greatest Show on Earth in terms of the slight of hand.

 

[Dale Smith]

Each year the trustees for the SSTF are required to publish a report to the President and the Congress on the financial condition of the SSTF. This year it came out last friday afternoon, and it ain't good. Excerpts:

The Social Security report finds that the "trust fund" will run out of money in just 17 years. The news only gets worse from there.

The program's unfunded liability over the next 75 years is now $12.5 trillion, which is up from $11.4 trillion last year and $4.7 trillion a decade ago. In other words, Social Security's long-term unfunded liability has increased by 166% in the span of 10 years.

And on a cash flow basis, Social Security is now losing money every year. Last year it was $54 billion in the red. In a decade the annual shortfall will reach $215 billion – after adjusting for inflation.


What it basically means is that unless the SSA program is changed, the checks that SSTF beneficiaries will get will be reduced significantly. If you add in the Disability Insurance (DI) into the mix you get the total OASDI program: (OAS - Old Age & Survivors)

The Trustees also project that annual cost for the OASDI program will exceed non-interest income throughout the projection period, and will exceed total income beginning in 2022 under the intermediate assumptions. The projected hypothetical combined OASI and DI Trust Fund asset reserves increase through 2021, begin to decline in 2022, and become depleted and unable to pay scheduled benefits in full on a timely basis in 2034. At the time of depletion of these combined reserves, continuing income to the combined trust funds would be sufficient to pay 77 percent of scheduled benefits.


The good news is that this problem can be averted. It's called "the Chilean Model," as 2012 presidential candidate Herman Cain put it, in what was his effort to get the voters to get serious about the issue.

The Chilean Model, the system of private savings accounts for retirement, is practiced in 30 countries. It was developed on a nationwide scale by José Piñera, the former labor minister of Chile during the 1970s, when the country was a socialist rubble and the coffers were bare, and it has worked every time it's been tried.


https://www.ssa.gov/OACT/TR/2017/tr2017.pdf

This is the twice a year topic that comes up where everyone PRETENDS that there IS a Trust Fund and that it's just piled DEEP with valuable stuff to be hocked if EVER the SSA income goes negative.

And everyone just put their heads in the sand and PRETENDS the SSA income stream hasn't already gone DEAD ASS BROKE since about 2010. 6 to 8 years AHEAD of the projections.

There is NOTHING of VALUE in the Trust Fund. NOTHING to magically redeem to cover the CURRENT OCCURING SHORTFALLS. And every month, the Treasury gets an IOU from the "Trust Fund" and issues BRAND NEW DEBT -- paid for by China and others to cover the MOUNTING deficits.

That NEW debt is the 2nd time some current victims were robbed. They were robbed when Congress spent the money and put an accounting notation into the off-book "Trust Fund" and NEVER BOOKED THE DEBT on the annual budget. Spent it on mohair subsidies and bullets and bureaucratic fantasies.

Then the same working poor that got robbed find TODAY -- that same amount PLUS ficticious interest is RE-FINANCED in their names by issuing ACTUAL Treasuries in order to write the checks. That's the 2nd theft.

This is all a farce. Greatest Show on Earth in terms of the slight of hand.

I wonder if you know just how "dead on" you actually are with that assessment. I often hate the fact that I know the things I do but lack the ability to articulate in a way that could reach more people. I sometimes compare it to a guy that sees an F-5 tornado bearing down on a grocery store and he runs into warn the shoppers but can't speak....he stands there ready....but nothing can come out of his mouth......that is me.

 

[flacaltenn]

Each year the trustees for the SSTF are required to publish a report to the President and the Congress on the financial condition of the SSTF. This year it came out last friday afternoon, and it ain't good. Excerpts:

The Social Security report finds that the "trust fund" will run out of money in just 17 years. The news only gets worse from there.

The program's unfunded liability over the next 75 years is now $12.5 trillion, which is up from $11.4 trillion last year and $4.7 trillion a decade ago. In other words, Social Security's long-term unfunded liability has increased by 166% in the span of 10 years.

And on a cash flow basis, Social Security is now losing money every year. Last year it was $54 billion in the red. In a decade the annual shortfall will reach $215 billion – after adjusting for inflation.


What it basically means is that unless the SSA program is changed, the checks that SSTF beneficiaries will get will be reduced significantly. If you add in the Disability Insurance (DI) into the mix you get the total OASDI program: (OAS - Old Age & Survivors)

The Trustees also project that annual cost for the OASDI program will exceed non-interest income throughout the projection period, and will exceed total income beginning in 2022 under the intermediate assumptions. The projected hypothetical combined OASI and DI Trust Fund asset reserves increase through 2021, begin to decline in 2022, and become depleted and unable to pay scheduled benefits in full on a timely basis in 2034. At the time of depletion of these combined reserves, continuing income to the combined trust funds would be sufficient to pay 77 percent of scheduled benefits.


The good news is that this problem can be averted. It's called "the Chilean Model," as 2012 presidential candidate Herman Cain put it, in what was his effort to get the voters to get serious about the issue.

The Chilean Model, the system of private savings accounts for retirement, is practiced in 30 countries. It was developed on a nationwide scale by José Piñera, the former labor minister of Chile during the 1970s, when the country was a socialist rubble and the coffers were bare, and it has worked every time it's been tried.


https://www.ssa.gov/OACT/TR/2017/tr2017.pdf

This is the twice a year topic that comes up where everyone PRETENDS that there IS a Trust Fund and that it's just piled DEEP with valuable stuff to be hocked if EVER the SSA income goes negative.

And everyone just put their heads in the sand and PRETENDS the SSA income stream hasn't already gone DEAD ASS BROKE since about 2010. 6 to 8 years AHEAD of the projections.

There is NOTHING of VALUE in the Trust Fund. NOTHING to magically redeem to cover the CURRENT OCCURING SHORTFALLS. And every month, the Treasury gets an IOU from the "Trust Fund" and issues BRAND NEW DEBT -- paid for by China and others to cover the MOUNTING deficits.

That NEW debt is the 2nd time some current victims were robbed. They were robbed when Congress spent the money and put an accounting notation into the off-book "Trust Fund" and NEVER BOOKED THE DEBT on the annual budget. Spent it on mohair subsidies and bullets and bureaucratic fantasies.

Then the same working poor that got robbed find TODAY -- that same amount PLUS ficticious interest is RE-FINANCED in their names by issuing ACTUAL Treasuries in order to write the checks. That's the 2nd theft.

This is all a farce. Greatest Show on Earth in terms of the slight of hand.

I wonder if you know just how "dead on" you actually are with that assessment. I often hate the fact that I know the things I do but lack the ability to articulate in a way that could reach more people. I sometimes compare it to a guy that sees an F-5 tornado bearing down on a grocery store and he runs into warn the shoppers but can't speak....he stands there ready....but nothing can come out of his mouth......that is me.

Don't worry. 96% of Congress critter freeze up in FEAR of discussing the "SSA Trust Fund" or lockboxes or any of the other horseshit inventions that were meant to cover the Grand Larceny that was the squandering of the SSA Surplus income. Excellent description of how our Leadership cowers in fear over the realities of a broke ass Universal Insurance program that they PILFERED for decades...

SOME have spoken out. Brave souls. And unexpectedly. Like Harry Reid or Al Gore.

But it's all in the yearly SSA prospectus. Like they say on Wall Street -- you should read and understand the prospectus before investing. And every year -- the SSA spends 12 pages on how cash and treasure is bulging out of the Trust Fund WITH INTEREST -- and on the last pages -- there's a little disclaimer in fine print that explains that NOTHING IN THE TRUST FUND -- can be actually used to cover future or current shortfalls.

That's near criminal behavior. If a private company did that -- there would be screams and hollers for litigation..

 

[Mikeoxenormous]

The problem with the whole Ponzi scheme (for that's what it is) is people who take out more than they put into it.

Yeah, like the liberals who fake an injury , get Social Security disability, then go out and play golf, or get a second job, under the table. Liberals(who are immoral) will do whatever to get that extra buck, and I just pray to God that the government starts investigating those who are scamming. Throw their ass in Jail..

 

[jwoodie]

Each year the trustees for the SSTF are required to publish a report to the President and the Congress on the financial condition of the SSTF. This year it came out last friday afternoon, and it ain't good. Excerpts:

The Social Security report finds that the "trust fund" will run out of money in just 17 years. The news only gets worse from there.

The program's unfunded liability over the next 75 years is now $12.5 trillion, which is up from $11.4 trillion last year and $4.7 trillion a decade ago. In other words, Social Security's long-term unfunded liability has increased by 166% in the span of 10 years.

And on a cash flow basis, Social Security is now losing money every year. Last year it was $54 billion in the red. In a decade the annual shortfall will reach $215 billion – after adjusting for inflation.


What it basically means is that unless the SSA program is changed, the checks that SSTF beneficiaries will get will be reduced significantly. If you add in the Disability Insurance (DI) into the mix you get the total OASDI program: (OAS - Old Age & Survivors)

The Trustees also project that annual cost for the OASDI program will exceed non-interest income throughout the projection period, and will exceed total income beginning in 2022 under the intermediate assumptions. The projected hypothetical combined OASI and DI Trust Fund asset reserves increase through 2021, begin to decline in 2022, and become depleted and unable to pay scheduled benefits in full on a timely basis in 2034. At the time of depletion of these combined reserves, continuing income to the combined trust funds would be sufficient to pay 77 percent of scheduled benefits.


The good news is that this problem can be averted. It's called "the Chilean Model," as 2012 presidential candidate Herman Cain put it, in what was his effort to get the voters to get serious about the issue.

The Chilean Model, the system of private savings accounts for retirement, is practiced in 30 countries. It was developed on a nationwide scale by José Piñera, the former labor minister of Chile during the 1970s, when the country was a socialist rubble and the coffers were bare, and it has worked every time it's been tried.

You really don't understand the basic economics of Social Security, do you?

 

[task0778]

Each year the trustees for the SSTF are required to publish a report to the President and the Congress on the financial condition of the SSTF. This year it came out last friday afternoon, and it ain't good. Excerpts:

The Social Security report finds that the "trust fund" will run out of money in just 17 years. The news only gets worse from there.

The program's unfunded liability over the next 75 years is now $12.5 trillion, which is up from $11.4 trillion last year and $4.7 trillion a decade ago. In other words, Social Security's long-term unfunded liability has increased by 166% in the span of 10 years.

And on a cash flow basis, Social Security is now losing money every year. Last year it was $54 billion in the red. In a decade the annual shortfall will reach $215 billion – after adjusting for inflation.


What it basically means is that unless the SSA program is changed, the checks that SSTF beneficiaries will get will be reduced significantly. If you add in the Disability Insurance (DI) into the mix you get the total OASDI program: (OAS - Old Age & Survivors)

The Trustees also project that annual cost for the OASDI program will exceed non-interest income throughout the projection period, and will exceed total income beginning in 2022 under the intermediate assumptions. The projected hypothetical combined OASI and DI Trust Fund asset reserves increase through 2021, begin to decline in 2022, and become depleted and unable to pay scheduled benefits in full on a timely basis in 2034. At the time of depletion of these combined reserves, continuing income to the combined trust funds would be sufficient to pay 77 percent of scheduled benefits.


The good news is that this problem can be averted. It's called "the Chilean Model," as 2012 presidential candidate Herman Cain put it, in what was his effort to get the voters to get serious about the issue.

The Chilean Model, the system of private savings accounts for retirement, is practiced in 30 countries. It was developed on a nationwide scale by José Piñera, the former labor minister of Chile during the 1970s, when the country was a socialist rubble and the coffers were bare, and it has worked every time it's been tried.

You really don't understand the basic economics of Social Security, do you?

Yeah, I kinda think I do. Maybe you should cut the crap and specify where I am wrong.