The tell-tale signs of a coming nightmare: Social security is just the beginning

[Talismen]

At the time of this writing, I am exactly 1 week into my 43rd year on this earth. And because I was raised by my parents, my maternal grandmother and great-grand parents, I knew 20 years ago that the possibility of social security not being there for me at retirement, was quite high. They saw it coming back then, and made sure they didn't blow sunshine up my backside, with regards to what was to come.

Today, we learned just how high that possibility really is:
Link: Social Security fund slides into permanent deficit
(snip)

By STEPHEN OHLEMACHER, Associated Press Stephen Ohlemacher, Associated Press – Thu Jan 27, 11:18 am ET
WASHINGTON – Social Security's finances are getting worse as the economy struggles to recover and millions of baby boomers stand at the brink of retirement.

New congressional projections show Social Security running deficits every year until its trust funds are eventually drained in about 2037.

This year alone, Social Security is projected to collect $45 billion less in payroll taxes than it pays out in retirement, disability and survivor benefits, the nonpartisan Congressional Budget Office said Wednesday. That figure swells to $130 billion when a new one-year cut in payroll taxes is included, though Congress has promised to repay any lost revenue from the tax cut.

The massive retirement program has been feeling the effects of a struggling economy for several years. The program first went into deficit last year — the first deficit since it was last overhauled in the 1980s. But CBO said last year that Social Security would post surpluses for a few more years before permanently slipping into deficits in 2016.

(Read the rest at the link above....)

Keep in mind, FDR (remember he was liberal too) never intended for the SS program to look as it does today, nor did he ever intend for SS to be the only means of retirement income for ANY worker in this country. Check your history, and you'll find that out fast.

Social Security is the "canary" in the economic "coal mine". It's been withering away for more than a few decades, and now, is finally at the point of no return without massive intervention and modification.

Why? Many reasons, not the least of which is the sustained high unemployement numbers, and the fact that more people are "sucking" from the government "teet", rather than making their own way in the world.

So, how do we fix it? Raise the retirement age? Maybe, but, there are those of us who are about 20yrs away from retirement at the current age limit, who'd love to see this not happen.

Ok so....What else? How about offering incentives for folks who are over a certain income level NOT to take their SS funds? Of course, that would mean that a change would have to be made to the law which allows folks to opt-out of the existing mandatory participation/receipt of those funds.

Ahh but....So much needs to be done with the budget, it can become quite overwhelming when one thinks about it.
I'll tell you who has a good start on just what needs to be done to the budget....Rand Paul.
See here:

Link: A detailed look at the Rand Paul spending bill
(snip)

Of course, even this bill would only cut this year's record deficit by one-third. But if you can bring discretionary spending down a notch with something like it, then cut Defense further as the wars in Afghanistan and Iraq wind down, you've gotten to the point where you can look Americans in the eye and tell them you've done everything you can, and it's time to do something about Social Security and Medicare to save the nation from long-term financial collapse.

I've copied down the short version of what gets cut from each agency or department, and the percentage cut. Paul offers a more complete explanation of each item here.

LEGISLATIVE BRANCH...............................$1,283,000,000. (23%)
Notes: The Government Printing Office is abolished.

JUDICIAL BRANCH......................................$2,434,000,000. (32%)

AGRICULTURE............................................$42,542,000,000. (30%)
The Agriculture Research Service, National Institute of Food and Agriculture, Resources Conservation Service, and Foreign Agricultural Service are abolished. The Forest Service gets a $1.2 billion haircut.

COMMERCE...................................................$5,322,000,000. (54%)
National Oceanic And Atmospheric Administration (NOAA) is cut by $857,000,000.

DEFENSE.......................................................$47,500,000,000. (6.5%)

EDUCATION..................................................$78,000,000,000 (83%)
Only the Pell grant program survives.

ENERGY............................................................$44,200,000,000 (100%)
The Defense Department takes over all of Energy's remaining functions (nuclear waste, for example) and about $18 billion of its budget.

Read the rest at the 2nd link above....

Associated link:
http://www.randpaul2010.com/wp-content/uploads/2011/01/Overview-500-billion-cuts-2.pdf


Now, does this have a snow ball's chance in hell of passing, even on a partial level?
Prolly not. But damn...He ain't foolin'! Good on him!

How's about a Paul/Christie ticket in 2012? WOOHOO!

 

[MikeK]

[...]

New congressional projections show Social Security running deficits every year until its trust funds are eventually drained in about 2037.

The health of the Social Security program exists in proportion to the health of the Economy in general. This is not the first time the program has dragged its feet and it won't be the last. But to perceive these occasional bumps in the road as death knells is to succumb to the kind of paranoia which is being promoted by fanatical Libertarians and by corporatist propagandists whose ambitious agenda is to turn the gold-mine, which Social Security is, over to the Wall Street gamblers who are responsible for the present economic crisis.

This year alone, Social Security is projected to collect $45 billion less in payroll taxes than it pays out in retirement, disability and survivor benefits, the nonpartisan Congressional Budget Office said Wednesday. That figure swells to $130 billion when a new one-year cut in payroll taxes is included, though Congress has promised to repay any lost revenue from the tax cut.

Focus on the last sentence in that paragraph and don't assume it to be a false promise. Keep in mind that the only way Social Security will fail is if the entire federal government fails, in which case Social Security's failure will be the least of our problems.

The massive retirement program has been feeling the effects of a struggling economy for several years. The program first went into deficit last year — the first deficit since it was last overhauled in the 1980s. But CBO said last year that Social Security would post surpluses for a few more years before permanently slipping into deficits in 2016.

Again, the U.S. Economy has just undergone a major assault by the Bush Administration. The downturn has put millions of Americans out of work, which means serious reductions in FICA contributions. But the tide appears to be turning so the situation will improve. If it doesn't then certain steps will need to be taken to compensate for the loss. But by no means will the government allow the Social Security program to fail.

Keep in mind, FDR (remember he was liberal too) never intended for the SS program to look as it does today, nor did he ever intend for SS to be the only means of retirement income for ANY worker in this country. Check your history, and you'll find that out fast.

That is true. One thing FDR did not envision was SSI, which in factual reality is not Social Security at all but has simply been placed in that category because of its general nature. And Social Security was not intended to do more than avoid the kind of absolute destitution that occurred throughout the Great Depression. Its purpose is to ensure access to the basic necessities of life or to supplement what otherwise would be inadequate private pensions.

Social Security is the "canary" in the economic "coal mine". It's been withering away for more than a few decades, and now, is finally at the point of no return without massive intervention and modification.

Why? Many reasons, not the least of which is the sustained high unemployement numbers, and the fact that more people are "sucking" from the government "teet", rather than making their own way in the world.

So, how do we fix it? Raise the retirement age? Maybe, but, there are those of us who are about 20yrs away from retirement at the current age limit, who'd love to see this not happen.

Those individuals need to be reminded that actuarial life expectancy is considerably longer than it was when Social Security was implemented in 1935 and asked if given the option would they prefer to have their lives shortened rather than their eligibility age increased. There is nothing unfair or unreasonable about a proportionate adjustment to the eligibility age.

Ok so....What else? How about offering incentives for folks who are over a certain income level NOT to take their SS funds? Of course, that would mean that a change would have to be made to the law which allows folks to opt-out of the existing mandatory participation/receipt of those funds.

Social Security is essentially an insurance program and there should be a means test to disqualify those whose assets and incomes are such that they have no practical need to collect from the program.

In my own situation, if my monthly Social Security payment were reduced by $100 I really wouldn't miss it. And there are many who wouldn't miss a $500 reduction -- or complete elimination of payment. So if need be a means test could be applied to ensure that those who do need the the full Social Security supplement would receive it.

Ahh but....So much needs to be done with the budget, it can become quite overwhelming when one thinks about it.
I'll tell you who has a good start on just what needs to be done to the budget....Rand Paul.
See here:

Link: A detailed look at the Rand Paul spending bill
(snip)

Of course, even this bill would only cut this year's record deficit by one-third. But if you can bring discretionary spending down a notch with something like it, then cut Defense further as the wars in Afghanistan and Iraq wind down, you've gotten to the point where you can look Americans in the eye and tell them you've done everything you can, and it's time to do something about Social Security and Medicare to save the nation from long-term financial collapse.

I've copied down the short version of what gets cut from each agency or department, and the percentage cut. Paul offers a more complete explanation of each item here.

LEGISLATIVE BRANCH...............................$1,283,000,000. (23%)
Notes: The Government Printing Office is abolished.

JUDICIAL BRANCH......................................$2,434,000,000. (32%)

AGRICULTURE............................................$42,542,000,000. (30%)
The Agriculture Research Service, National Institute of Food and Agriculture, Resources Conservation Service, and Foreign Agricultural Service are abolished. The Forest Service gets a $1.2 billion haircut.

COMMERCE...................................................$5,322,000,000. (54%)
National Oceanic And Atmospheric Administration (NOAA) is cut by $857,000,000.

DEFENSE.......................................................$47,500,000,000. (6.5%)

EDUCATION..................................................$78,000,000,000 (83%)
Only the Pell grant program survives.

ENERGY............................................................$44,200,000,000 (100%)
The Defense Department takes over all of Energy's remaining functions (nuclear waste, for example) and about $18 billion of its budget.

Read the rest at the 2nd link above....

Associated link:
http://www.randpaul2010.com/wp-content/uploads/2011/01/Overview-500-billion-cuts-2.pdf


Now, does this have a snow ball's chance in hell of passing, even on a partial level?
Prolly not. But damn...He ain't foolin'! Good on him!

How's about a Paul/Christie ticket in 2012? WOOHOO!

Gee. I wonder. Is it possible that you are a Libertarian??

 

[Talismen]

[...]

New congressional projections show Social Security running deficits every year until its trust funds are eventually drained in about 2037.

The health of the Social Security program exists in proportion to the health of the Economy in general. This is not the first time the program has dragged its feet and it won't be the last. But to perceive these occasional bumps in the road as death knells is to succumb to the kind of paranoia which is being promoted by fanatical Libertarians and by corporatist propagandists whose ambitious agenda is to turn the gold-mine, which Social Security is, over to the Wall Street gamblers who are responsible for the present economic crisis.

"gold-mine"????

Really?

As noted, that "gold-mine" was NEVER meant to be the source of one's retirement, in total.
It was meant to provide for "basic necessities". How anyone can perceive it as a "gold-mine", or 'market' it to gullible American citizens as a "gold-mine" for their golden years, is beyond me.

Further, those "bumps" referred to are coming hard and fast and more frequently as the years tick by. Why is that? Why would a program that is ONLY supposed to provide "basic necessities" (something very simple), be in the red this frequently, this fast since it's inception?

Even further, you've assumed that I'm all for turning the program over to Wall Street.
Wrong. I'm for turning it over to the people who are contributing, whether they want to or not, to the program. The funds are taken from them, out of their earnings, without their consent. This is a constitutional republic, and a free society, and those two things mean that people should be able to control the funding of their own retirements with the money that is basically stolen from them every time the eagle shits.

If someone wants to sinnk their funds into Wall Street...So be it. If they know what they are doing, they'll do a WAY better job than government is doing. It would also force people to actually THINK about their senior years, and their retirement, instead of sitting back on their ass and assuming, incorrectly, that SS will be enough to "get by on" in their later years.

Again, the U.S. Economy has just undergone a major assault by the Bush Administration. The downturn has put millions of Americans out of work, which means serious reductions in FICA contributions. But the tide appears to be turning so the situation will improve. If it doesn't then certain steps will need to be taken to compensate for the loss. But by no means will the government allow the Social Security program to fail.

And there's the money line....Big bad ol' BOOOOOSH did it! No one else. Never ever, no one else.
If you're not "alert" enough to understand that this problem was caused by BOTH parties, over years and years....this is going to turn into a pissing contest, real fast.

Go ring out, jr....You're done.

 

[Oddball]

The Social Security trust fund is just fine.

Remain calm...All is well.

 

[william the wie]

At a minimum Social Security and Medicare eligibility needs to be indexed to life expectancy more or less immediately.

 

[pinqy]

Well, one thing about that budget...he's eliminated all statistical agencies and anyone capable of analyzing the economy, so no one would know how bad things are.

 

[Mini 14]

I've never let SS enter the equation of my retirement. If there is anything there when I'm done (which I highly doubt), I'll spend it on gin and hookers, but I'm not holding my breath.

I say let it die, because the only way to save it is to charge us far more in taxes/cuts/benefits than what we will receive when our day comes.

Anyone thinking it is magically going to get fixed, without it coming directly out of your paycheck NOW, is only fooling themselves. The money has to come from somewhere, and "somewhere" ALWAYS means the taxpayer.

It ain't worth it.

Let it die.

 

[Wry Catcher]

At the time of this writing, I am exactly 1 week into my 43rd year on this earth. And because I was raised by my parents, my maternal grandmother and great-grand parents, I knew 20 years ago that the possibility of social security not being there for me at retirement, was quite high. They saw it coming back then, and made sure they didn't blow sunshine up my backside, with regards to what was to come.

Today, we learned just how high that possibility really is:
Link: Social Security fund slides into permanent deficit
(snip)

By STEPHEN OHLEMACHER, Associated Press Stephen Ohlemacher, Associated Press – Thu Jan 27, 11:18 am ET
WASHINGTON – Social Security's finances are getting worse as the economy struggles to recover and millions of baby boomers stand at the brink of retirement.

New congressional projections show Social Security running deficits every year until its trust funds are eventually drained in about 2037.

This year alone, Social Security is projected to collect $45 billion less in payroll taxes than it pays out in retirement, disability and survivor benefits, the nonpartisan Congressional Budget Office said Wednesday. That figure swells to $130 billion when a new one-year cut in payroll taxes is included, though Congress has promised to repay any lost revenue from the tax cut.

The massive retirement program has been feeling the effects of a struggling economy for several years. The program first went into deficit last year — the first deficit since it was last overhauled in the 1980s. But CBO said last year that Social Security would post surpluses for a few more years before permanently slipping into deficits in 2016.

(Read the rest at the link above....)

Keep in mind, FDR (remember he was liberal too) never intended for the SS program to look as it does today, nor did he ever intend for SS to be the only means of retirement income for ANY worker in this country. Check your history, and you'll find that out fast.

Social Security is the "canary" in the economic "coal mine". It's been withering away for more than a few decades, and now, is finally at the point of no return without massive intervention and modification.

Why? Many reasons, not the least of which is the sustained high unemployement numbers, and the fact that more people are "sucking" from the government "teet", rather than making their own way in the world.

So, how do we fix it? Raise the retirement age? Maybe, but, there are those of us who are about 20yrs away from retirement at the current age limit, who'd love to see this not happen.

Ok so....What else? How about offering incentives for folks who are over a certain income level NOT to take their SS funds? Of course, that would mean that a change would have to be made to the law which allows folks to opt-out of the existing mandatory participation/receipt of those funds.

Ahh but....So much needs to be done with the budget, it can become quite overwhelming when one thinks about it.
I'll tell you who has a good start on just what needs to be done to the budget....Rand Paul.
See here:

Link: A detailed look at the Rand Paul spending bill
(snip)

Of course, even this bill would only cut this year's record deficit by one-third. But if you can bring discretionary spending down a notch with something like it, then cut Defense further as the wars in Afghanistan and Iraq wind down, you've gotten to the point where you can look Americans in the eye and tell them you've done everything you can, and it's time to do something about Social Security and Medicare to save the nation from long-term financial collapse.

I've copied down the short version of what gets cut from each agency or department, and the percentage cut. Paul offers a more complete explanation of each item here.

LEGISLATIVE BRANCH...............................$1,283,000,000. (23%)
Notes: The Government Printing Office is abolished.

JUDICIAL BRANCH......................................$2,434,000,000. (32%)

AGRICULTURE............................................$42,542,000,000. (30%)
The Agriculture Research Service, National Institute of Food and Agriculture, Resources Conservation Service, and Foreign Agricultural Service are abolished. The Forest Service gets a $1.2 billion haircut.

COMMERCE...................................................$5,322,000,000. (54%)
National Oceanic And Atmospheric Administration (NOAA) is cut by $857,000,000.

DEFENSE.......................................................$47,500,000,000. (6.5%)

EDUCATION..................................................$78,000,000,000 (83%)
Only the Pell grant program survives.

ENERGY............................................................$44,200,000,000 (100%)
The Defense Department takes over all of Energy's remaining functions (nuclear waste, for example) and about $18 billion of its budget.

Read the rest at the 2nd link above....

Associated link:
http://www.randpaul2010.com/wp-content/uploads/2011/01/Overview-500-billion-cuts-2.pdf


Now, does this have a snow ball's chance in hell of passing, even on a partial level?
Prolly not. But damn...He ain't foolin'! Good on him!

How's about a Paul/Christie ticket in 2012? WOOHOO!

How does increasing unemployment help anyone? Cutting the federal government sounds good but for two usually overlooked facts.
1. Cuts require cutting jobs, people will lose their jobs at a time of high unemployment;
2. The unemployed will not/can not make their mortgage payments/rent; car payments, go to movies, out to dinner. In other words stimulate the economy.

Cuts must be reasonable not emotional; that is my greatest criticism of the tea party mentality - simple solutions to complex problems.

Some ideas which may help but are politically difficult:

A. Temorarily add a 5% sur tax on income across the board dedicated to debt relief;
B. Raise the Social Security payroll tax 10-fold, to $1,000,000; include earned income and bonus money; all monies collected to be invested safely in well regulated instruments;
C. Add .50 cents/gallon to the gas tax for all non-commercial vehicles in areas where public transportation is available. Income to be used to subsidized and expand public transportaton;
D. Add solar energy roofing to all public buildings in sun belts;
E. Begin the process of building new generation nuclear power plants;
F. Replace the Federal (& State, Local) government fleets by attrition to hybid and electric vehicles;
G. Regulate, regulate and regulate - laws must be enforced. Medicare fraud must be punished by a loss of liberty (Jail, Prison) not finds or warnings;
I. Citziens United v. FEC must be overturned; campaign finance reform must become a reality and false, misleading, slanderous and libelous advertising must not be protected from civil and or criminal penalty.

 

[editec]

Social security is in trouble becauuse the US economy is in trouble.

The US economy is in trouble because the upper classes of this nation have abandoned the social contract that included the lower classes.

FREE TRADE is one example of that betrayal of the social contract.

Continuing to advance the supply side (feeding the rich at the expense of the working classes) still another example of this change in overall social contracting policy.

The social security problem is but a subset of the overall problem this society is facing

 

[chikenwing]

Agreed!! I would gladly give up the 10s of thousands we have already paid in,to not have to pay 10s of thousands more,into what is surly a very stupid and unlikely to return much if anything investment.

The feds have proven themselves to be incompetent in matters of money management,this can't be denied by anyone with a rational mind.

 

[CoolBreeze]

If SS is to survive it must first be taken out of the hands of the politicians who have treated it as their own private slush fund. Remember Kerry and the locked box? What he did not say was that all of the politicians had a key to it. According to law the only thing that SS can be invested in are T-Bills and other government securities. SS must be invested in other than government securities for a higher yield on the excess funds.

 

[georgephillip]

Well, one thing about that budget...he's eliminated all statistical agencies and anyone capable of analyzing the economy, so no one would know how bad things are.

Could you provide some details?

"He"?

Would you agree with the following two paragraphs published last August (2010)?

"The new Social Security Trustees Report showed that the program can pay all benefits long into the future, with no changes whatsoever. If nothing were ever done, the program could pay full benefits until the year 2037, and could still pay 75 percent of scheduled benefits for many decades after this date.

"It would take relatively modest changes to extend the projected period of full funding long past 2037. For example, raising the wage cap to cover 90 percent of wage income, the original target set by the Greenspan commission, would cover 25 percent of the deficit projected over the program's 75-year planning horizon."

CommonDreams

 

[pinqy]

Well, one thing about that budget...he's eliminated all statistical agencies and anyone capable of analyzing the economy, so no one would know how bad things are.

Could you provide some details?

"He"?

From the Rand Paul Spending Bill

The proposal exempts the Employment and Training Administration (including UI benefits), Mine Safety and Health, Office of Workers’ Compensation Programs, and the Occupational Safety and Health Administration. However, this proposal eliminates all other Department of Labor programs.

So this would eliminate the Bureau of Labor Statistics, which calculates Employment, Unemployment, Occupational safety and health statistics (so why OSHA is kept if there's no reporting I don't know), Price levels and changes and others.

[qutoe]The Department of Commerce has consistently been labeled for elimination, specifically by House Republicans during the 1990’s. Aside from a few research programs, the department’s main functions are associated with wasteful corporate welfare. The proposal would scale back the Department of Commerce by 54 percent, including additional
cuts to the National Oceanic and Atmospheric Administration, and the elimination of a arge portion of corporate welfare.[/quote]Both BEA and the Census Bureau are under Commerce, so would face these cuts.

With BLS gone and Census and BEA cut by half, how are we going to measure the economy?

Would you agree with the following two paragraphs published last August (2010)?

"The new Social Security Trustees Report showed that the program can pay all benefits long into the future, with no changes whatsoever. If nothing were ever done, the program could pay full benefits until the year 2037, and could still pay 75 percent of scheduled benefits for many decades after this date.

"It would take relatively modest changes to extend the projected period of full funding long past 2037. For example, raising the wage cap to cover 90 percent of wage income, the original target set by the Greenspan commission, would cover 25 percent of the deficit projected over the program's 75-year planning horizon."

CommonDreams

I haven't studied the matter sufficiently to state an opinion on that specifically.

 

[Truthmatters]

Grover Norquist outlined the republicans true intentions.

He wants to drown our government until its dead

 

[georgephillip]

Well, one thing about that budget...he's eliminated all statistical agencies and anyone capable of analyzing the economy, so no one would know how bad things are.

Could you provide some details?

"He"?

From the Rand Paul Spending Bill

The proposal exempts the Employment and Training Administration (including UI benefits), Mine Safety and Health, Office of Workers’ Compensation Programs, and the Occupational Safety and Health Administration. However, this proposal eliminates all other Department of Labor programs.

So this would eliminate the Bureau of Labor Statistics, which calculates Employment, Unemployment, Occupational safety and health statistics (so why OSHA is kept if there's no reporting I don't know), Price levels and changes and others.

[qutoe]The Department of Commerce has consistently been labeled for elimination, specifically by House Republicans during the 1990’s. Aside from a few research programs, the department’s main functions are associated with wasteful corporate welfare. The proposal would scale back the Department of Commerce by 54 percent, including additional
cuts to the National Oceanic and Atmospheric Administration, and the elimination of a arge portion of corporate welfare.

Both BEA and the Census Bureau are under Commerce, so would face these cuts.

With BLS gone and Census and BEA cut by half, how are we going to measure the economy?

Would you agree with the following two paragraphs published last August (2010)?

"The new Social Security Trustees Report showed that the program can pay all benefits long into the future, with no changes whatsoever. If nothing were ever done, the program could pay full benefits until the year 2037, and could still pay 75 percent of scheduled benefits for many decades after this date.

"It would take relatively modest changes to extend the projected period of full funding long past 2037. For example, raising the wage cap to cover 90 percent of wage income, the original target set by the Greenspan commission, would cover 25 percent of the deficit projected over the program's 75-year planning horizon."

CommonDreams

I haven't studied the matter sufficiently to state an opinion on that specifically.[/QUOTE]
Is it accurate to say Rand Paul's proposal exempts UI benefits but eliminates the agency currently responsible for calculating Unemployment levels?

 

[Terral]

Hi Talsimen:

Hold it right here ...

... Why? Many reasons, not the least of which is the sustained high unemployement numbers, and the fact that more people are "sucking" from the government "teet", rather than making their own way in the world.

First of all, the corrupt Congress and Bush/Obama Administrations have done nothing to protect the JOBS of U.S. Citizens, which is the source of Social Security revenue. NAFTA-like treaties have destroyed the American Manufacturing Base that have shipped those jobs to points all over the earth (China, India, Mexico, etc.). We have 23 guest worker programs that bring in 1.5 million foreign nationals every year even amid high unemployment, so corporate elites can pay slave labor wages to foreigners that pay little in taxes and send money back home to support foreign families.

Jobs are being outsourced overseas and south of the border, which sends even more U.S. workers to the unemployment line and into competition for fewer and fewer domestic jobs. Then you have a corrupt Congress and Obama Administration looking the other way, while U.S. companies pick around expensive U.S. workers in favor of using their cheap 20-million-man Illegal Alien Labor Pool that displaces even more U.S. citizens from the local job markets. Do not blame Americans for needing government assistance, when the government is so willing to allow millions and millions and millions of foreign nationals to run around loose EVERYWHERE stealing our identities and jobs, which only works to destroy the local Consumer/Tax Base; until government jobs must be cut and more pressure is placed on the private sector job market.

We have an entire generation of 18 to 24 year-old U.S. Citizens that have never entered the job market, because nobody in government is doing one thing to protect American jobs. These people do not qualify for unemployment benefits, because an illegal alien has their job and the corrupt government is happy to continue looking the other way.

The entire U.S. economy is imploding in slow motion by design and nothing anybody can do now will stop the coming collapse. Watch and see ...

GL,

Terral

 

[Talismen]

At the time of this writing, I am exactly 1 week into my 43rd year on this earth. And because I was raised by my parents, my maternal grandmother and great-grand parents, I knew 20 years ago that the possibility of social security not being there for me at retirement, was quite high. They saw it coming back then, and made sure they didn't blow sunshine up my backside, with regards to what was to come.

Today, we learned just how high that possibility really is:
Link: Social Security fund slides into permanent deficit
(snip)

By STEPHEN OHLEMACHER, Associated Press Stephen Ohlemacher, Associated Press – Thu Jan 27, 11:18 am ET
WASHINGTON – Social Security's finances are getting worse as the economy struggles to recover and millions of baby boomers stand at the brink of retirement.

New congressional projections show Social Security running deficits every year until its trust funds are eventually drained in about 2037.

This year alone, Social Security is projected to collect $45 billion less in payroll taxes than it pays out in retirement, disability and survivor benefits, the nonpartisan Congressional Budget Office said Wednesday. That figure swells to $130 billion when a new one-year cut in payroll taxes is included, though Congress has promised to repay any lost revenue from the tax cut.

The massive retirement program has been feeling the effects of a struggling economy for several years. The program first went into deficit last year — the first deficit since it was last overhauled in the 1980s. But CBO said last year that Social Security would post surpluses for a few more years before permanently slipping into deficits in 2016.

(Read the rest at the link above....)

Keep in mind, FDR (remember he was liberal too) never intended for the SS program to look as it does today, nor did he ever intend for SS to be the only means of retirement income for ANY worker in this country. Check your history, and you'll find that out fast.

Social Security is the "canary" in the economic "coal mine". It's been withering away for more than a few decades, and now, is finally at the point of no return without massive intervention and modification.

Why? Many reasons, not the least of which is the sustained high unemployement numbers, and the fact that more people are "sucking" from the government "teet", rather than making their own way in the world.

So, how do we fix it? Raise the retirement age? Maybe, but, there are those of us who are about 20yrs away from retirement at the current age limit, who'd love to see this not happen.

Ok so....What else? How about offering incentives for folks who are over a certain income level NOT to take their SS funds? Of course, that would mean that a change would have to be made to the law which allows folks to opt-out of the existing mandatory participation/receipt of those funds.

Ahh but....So much needs to be done with the budget, it can become quite overwhelming when one thinks about it.
I'll tell you who has a good start on just what needs to be done to the budget....Rand Paul.
See here:

Link: A detailed look at the Rand Paul spending bill
(snip)

Of course, even this bill would only cut this year's record deficit by one-third. But if you can bring discretionary spending down a notch with something like it, then cut Defense further as the wars in Afghanistan and Iraq wind down, you've gotten to the point where you can look Americans in the eye and tell them you've done everything you can, and it's time to do something about Social Security and Medicare to save the nation from long-term financial collapse.

I've copied down the short version of what gets cut from each agency or department, and the percentage cut. Paul offers a more complete explanation of each item here.

LEGISLATIVE BRANCH...............................$1,283,000,000. (23%)
Notes: The Government Printing Office is abolished.

JUDICIAL BRANCH......................................$2,434,000,000. (32%)

AGRICULTURE............................................$42,542,000,000. (30%)
The Agriculture Research Service, National Institute of Food and Agriculture, Resources Conservation Service, and Foreign Agricultural Service are abolished. The Forest Service gets a $1.2 billion haircut.

COMMERCE...................................................$5,322,000,000. (54%)
National Oceanic And Atmospheric Administration (NOAA) is cut by $857,000,000.

DEFENSE.......................................................$47,500,000,000. (6.5%)

EDUCATION..................................................$78,000,000,000 (83%)
Only the Pell grant program survives.

ENERGY............................................................$44,200,000,000 (100%)
The Defense Department takes over all of Energy's remaining functions (nuclear waste, for example) and about $18 billion of its budget.

Read the rest at the 2nd link above....

Associated link:
http://www.randpaul2010.com/wp-content/uploads/2011/01/Overview-500-billion-cuts-2.pdf


Now, does this have a snow ball's chance in hell of passing, even on a partial level?
Prolly not. But damn...He ain't foolin'! Good on him!

How's about a Paul/Christie ticket in 2012? WOOHOO!

How does increasing unemployment help anyone? Cutting the federal government sounds good but for two usually overlooked facts.
1. Cuts require cutting jobs, people will lose their jobs at a time of high unemployment;
2. The unemployed will not/can not make their mortgage payments/rent; car payments, go to movies, out to dinner. In other words stimulate the economy.

Cuts must be reasonable not emotional; that is my greatest criticism of the tea party mentality - simple solutions to complex problems.

So...You're worried about job cuts to an incredibly over-bloated, massive federal employee base that only continues to grow in size?

Where, on average, they are paid more than their counter-parts who do similar jobs in the private sector? A private sector that would grow beyond leaps and bounds if much of that government-job bloat would be transferred to the private sector.

Some ideas which may help but are politically difficult:

A. Temorarily add a 5% sur tax on income across the board dedicated to debt relief;

Anything "dedicated" to any aim or goal of government, by government, is ALWAYS diverted for other spending. ALWAYS.

Don't trust government....

B. Raise the Social Security payroll tax 10-fold, to $1,000,000; include earned income and bonus money; all monies collected to be invested safely in well regulated instruments;

Invested by whom? If it's government, forget it, 'cuz they ain't doing a great job now.

C. Add .50 cents/gallon to the gas tax for all non-commercial vehicles in areas where public transportation is available. Income to be used to subsidized and expand public transportaton;

You'll be pissing off everyone who has a job and needs to get to work at a reasonable hour, and NOT when public transportation can get them there.

D. Add solar energy roofing to all public buildings in sun belts;

Ok fine, I don't have a problem with this but...who pays for it?

E. Begin the process of building new generation nuclear power plants;

I'm fine with this too. But, is government going to get out of the way and provide tax incentives to the businesses that will fund these much needed plants?

F. Replace the Federal (& State, Local) government fleets by attrition to hybid and electric vehicles;

This will only work with passenger vehicles. There are certain things government moves and transports that cannot be left up to the weakness of a hybrid engine.

G. Regulate, regulate and regulate - laws must be enforced. Medicare fraud must be punished by a loss of liberty (Jail, Prison) not finds or warnings;

Regulate? Obama claims he wants to DE-regulate, although I don't it.
Yes, punish the fraudsters, in ALL entitlement programs. That includes food stamps, AFDC,...Everything.

I. Citziens United v. FEC must be overturned; campaign finance reform must become a reality and false, misleading, slanderous and libelous advertising must not be protected from civil and or criminal penalty.

Sorry -- free speech rules FOR ALL...Not just Al Franken, Rachel Maddow, Chris Matthews and Keith "do you want fries with that" Olbermann. Also, who gets to decide what is "false, misleading, slanderous and libelous advertising"? Only those in government? Right...Get real.

 

[Talismen]

Hi Talsimen:

Hold it right here ...

... Why? Many reasons, not the least of which is the sustained high unemployement numbers, and the fact that more people are "sucking" from the government "teet", rather than making their own way in the world.

First of all, the corrupt Congress and Bush/Obama Administrations

...And that's as far as I got
You're playing with the standard dem meme too, I see?

So, YOU hold it right there, Jasper...And go ring out, 'cuz you're done too.
Thanks for playing.

 

[editec]

If SS is to survive it must first be taken out of the hands of the politicians who have treated it as their own private slush fund. Remember Kerry and the locked box? What he did not say was that all of the politicians had a key to it. According to law the only thing that SS can be invested in are T-Bills and other government securities. SS must be invested in other than government securities for a higher yield on the excess funds.

Even that would not work if the working classes of the nation and future nation are getting POORER over time.

FHI the working classes purchasing power peaked way back in 1969 or so.

Since that time bad policies in trade and taxation have so disadvantaged working people that they will not be able to contribute enough to keep the social security system solvent over time.

This is, I think, not an accident, but instead a contrived situation.

Basically big capital does not need the fortress America anymore so the flight of capital has been ongoing now for at least my entire adult lifetime.

It is fleeing because it is cheaper to hire workers in poorer nations.

I cannot make it simpler than that.

 

[uscitizen]

"that possibility really is"

Umm the key word here is possibility.

If we adjust the retirement age upwards (due to longer lifetimes) and remove the upper salary cap for SS withholding, the possibility will likely vanish.

At least for the next 100 years.

The real issue with SS is that the govt spent the surplus and does not want to pay it back.