SS & Medicare.. Bankrupt

[Immanuel]

This is horrible.....

Anyone on the right hae any suggestions on what we should do about it?

A good start would be to put aside party differences and sit down together and come to an agreement as to what can be done followed by how to achieve that goal.

I don't see that happening in our lifetimes.

Immie

 

[Immanuel]

SS is not bankrupt.
They have nearly a 3 trillion surplus that our fair govt is holding for them when they need it. Like now.

Holding for them? You mean in T-Bills? Do you suggest they just print 3 trillion dollars between now and the end of the year to cover those needs?

Immie

 

[Lumpy 1]

Lumpy..

I'm still looking for your proposal to resue SS and Medicare

...Why don't you and Political Junky hold your breath... I'll be back...

 

[uscitizen]

SS is not bankrupt.
They have nearly a 3 trillion surplus that our fair govt is holding for them when they need it. Like now.

Holding for them? You mean in T-Bills? Do you suggest they just print 3 trillion dollars between now and the end of the year to cover those needs?

Immie

Talk to Greenspan about that. He engineered the Reagan SS reform so that the govt would have a lot of surplus SS funds to spend.

 

[Immanuel]

SS is not bankrupt.
They have nearly a 3 trillion surplus that our fair govt is holding for them when they need it. Like now.

Holding for them? You mean in T-Bills? Do you suggest they just print 3 trillion dollars between now and the end of the year to cover those needs?

Immie

Talk to Greenspan about that. He engineered the Reagan SS reform so that the govt would have a lot of surplus SS funds to spend.

Haha,

Yeah, like Alan Greenspan is going to give me the time of day let alone talk to me about Fed policy.

Immie

 

[uscitizen]

Holding for them? You mean in T-Bills? Do you suggest they just print 3 trillion dollars between now and the end of the year to cover those needs?

Immie

Talk to Greenspan about that. He engineered the Reagan SS reform so that the govt would have a lot of surplus SS funds to spend.

Haha,

Yeah, like Alan Greenspan is going to give me the time of day let alone talk to me about Fed policy.

Immie

I figure he is hiding pretty well.

 

[Immanuel]

Talk to Greenspan about that. He engineered the Reagan SS reform so that the govt would have a lot of surplus SS funds to spend.

Haha,

Yeah, like Alan Greenspan is going to give me the time of day let alone talk to me about Fed policy.

Immie

I figure he is hiding pretty well.

I figure he is living out his retirement in a location that I couldn't even afford to step foot in let alone sit down with him and have a nice one on one chat with him.

Immie

 

[uscitizen]

Haha,

Yeah, like Alan Greenspan is going to give me the time of day let alone talk to me about Fed policy.

Immie

I figure he is hiding pretty well.

I figure he is living out his retirement in a location that I couldn't even afford to step foot in let alone sit down with him and have a nice one on one chat with him.

Immie

He deserves it, he did his part to serve corporate America.

 

[Lumpy 1]

Well you guys purple yet???

I say , what the heck, use the Democrat plan.. pass more social programs, increase the national debt at an alarming pace, print more money, get more loans from China, pay higher interest rates, destroy incentives for doing business in the United States, increase unemployment, re-distribute wealth, etc. .. then the country goes bankrupt and a deep depression follows..

Me... I jump up on my horse and ride off into the sunset....

 

[jdavij2003]

The reality is these two social programs are bankrupt. The 2009 Social Security and Medicare Trustees Reports show the combined unfunded liability of these two programs has reached nearly $107 trillion. That is approximately 7 times the size of the U.S. economy and 10 times the size of the outstanding national debt.

Where does this debt come from? Who do these programs owe? Are they just making up money to pay out on these programs?

 

[SFC Ollie]

Oh My!

What will we ever do when we totally run out of other peoples money?

 

[uscitizen]

That unfunded liability on SS has to be a projection of how many years out?
They have a nearly 3 trillion surplus on the books.

We all KNOW how projections go. The housing bubble was just going to be a little burp and over by the end of the year.

 

[boedicca]

SS is going negative this year.

The supposed lockbox surplus is just a bunch of treasury bills, much of which we owe to foreign debtholders. The recent treasury auction resulted in an increased interest rate. It won't be long before our annual interest payments on the debt exceed $700B per year.

So much for the "surplus" - which in reality has Already Been Spent.

 

[uscitizen]

SS is going negative this year.

The supposed lockbox surplus is just a bunch of treasury bills, much of which we owe to foreign debtholders. The recent treasury auction resulted in an increased interest rate. It won't be long before our annual interest payments on the debt exceed $700B per year.

So much for the "surplus" - which in reality has Already Been Spent.

So the IOU's of the largest economy on earth are no good?

 

[Immanuel]

SS is going negative this year.

The supposed lockbox surplus is just a bunch of treasury bills, much of which we owe to foreign debtholders. The recent treasury auction resulted in an increased interest rate. It won't be long before our annual interest payments on the debt exceed $700B per year.

So much for the "surplus" - which in reality has Already Been Spent.

So the IOU's of the largest economy on earth are no good?

The Chinese get wind of that and we're even more screwed than we were the moment Obama signed the health care bill.

Immie

 

[boedicca]

Not when deficits and debt are out of control. The debtholders are demanding more interest for a reason - one of which is that our government will be very tempted to deflate the currency in order to repay the debt with cheaper dollars.

That would be just groovy.

(And the Chinese are already on to us - we can't hide.)

 

[AquaAthena]

they stole it from those who earned and will give it to those who didn't.. it's re distribution of wealth.

They didn't steal it yet. Its a theft in-progress. I hope the GOP runs on stopping Obamacare and on fixing SS & Medicare. Stay-tuned....don't give up on stopping Obama. I know a lot of Obama voters with voters-remorse. They won't make the same mistake in 2012.

Yes, they are just getting started. Must ram everything possible, through, before they start running away, in November. Total partisan corrupt politicians. Voting and ramming everything through, that the citizens don't want and can't afford. We will all be taxed in one way or another. This is about government control and power...nothing else. Socialism. *chills*

 

[uscitizen]

I guess we had to steal the money from the second weakest group in our society. the children have no money.

 

[Lumpy 1]

The reality is these two social programs are bankrupt. The 2009 Social Security and Medicare Trustees Reports show the combined unfunded liability of these two programs has reached nearly $107 trillion. That is approximately 7 times the size of the U.S. economy and 10 times the size of the outstanding national debt.

Where does this debt come from? Who do these programs owe? Are they just making up money to pay out on these programs?

Google... Social Security..... Medicare .. cost of Entitlements .. young stranger and welcome.

..

 

[kyzr]

I guess we had to steal the money from the second weakest group in our society. the children have no money.

Actually the boomers/Xers/Yers paid into SS and Medicare so that when they retire they would have a pension and healthcare. Some paid about $300,000 over their working lives. Multiply that by about 100,000,000 retirees and you end up with about 30,000,000,000,000 in benefits owed.

SS will go bankrupt in 2037 and Medicare in 2017. Fixing SS is easy, fixing Medicare will be tough. Lets say that sickest 5% of the population uses ~50% of medical resources, and that ~25% of medical resources are used on the dying. So fixing Medicare is actually simple too if you don't mind denying care to the "gomers" and dying and incurable.

I can't wait to see which party actually throws the dying under the bus since they pissed away the windows that they could have used to fix the system.