Truths for people under 45

[VaYank5150]

There will be no Social security when and if you retire.
There will be no public pensions when and if you retire.
Anyone promising something more than 2 years down the line is either lying through their teeth or completely naive about the state of reality.
This government spending will have to be reckoned with and soon.

Some of this have known it to be true for more than 10 years. Where you been?

 

[Sheldon]

Ya' gotta quit listening to Porky Limbaugh.

His "visions" are Big Pharma induced!!!!!

$$$$$

I don't listen to him.

What a fucking clown you are. You realize like half the board has you on ignore?

Wow that guy is still around?

Yep. He's like herpes.

 

[boedicca]

The Demographic Ponzi Scheme is coming undone.

In 1945, there were approximately 42 taxpayers per beneficiary.

Today we're around 3; and within a couple of decades, the ratio will drop to 2.

The only way to solve the problem is to move to a Chilean type of system of privatized accounts with the safety net for only the truly needy. Anyone who is not retired today, even older than 45, should not count on SS.

Social Security is currently solvent until about 2037 so it is bullshit to say that 45 year olds won't get SS.

That is a load of crap.

From the SS Trustees' Report:

Social Security expenditures are expected to exceed tax receipts this year for the first time since 1983. The projected deficit of $41 billion this year (excluding interest income) is attributable to the recession and to an expected $25 billion downward adjustment to 2010 income that corrects for excess payroll tax revenue credited to the trust funds in earlier years. This deficit is expected to shrink substantially for 2011 and to return to small surpluses for years 2012-2014 due to the improving economy. After 2014 deficits are expected to grow rapidly as the baby boom generation’s retirement causes the number of beneficiaries to grow substantially more rapidly than the number of covered workers. The annual deficits will be made up by redeeming trust fund assets in amounts less than interest earnings through 2024, and then by redeeming trust fund assets until reserves are exhausted in 2037, at which point tax income would be sufficient to pay about 75 percent of scheduled benefits through 2084. The projected exhaustion date for the combined OASI and DI Trust Funds is unchanged from last year’s report.

Trustees Report Summary



Starting in 2014, the Trust Fund will have to be used to pay beneficiaries. What does that mean? General tax receipts will have to be diverted to paying SS via Trust Fund IOUs - or the government will take on even more debt.

In 2037, benefits will have to be cut by 25%.

 

[NYcarbineer]

The Demographic Ponzi Scheme is coming undone.

In 1945, there were approximately 42 taxpayers per beneficiary.

Today we're around 3; and within a couple of decades, the ratio will drop to 2.

The only way to solve the problem is to move to a Chilean type of system of privatized accounts with the safety net for only the truly needy. Anyone who is not retired today, even older than 45, should not count on SS.

Social Security is currently solvent until about 2037 so it is bullshit to say that 45 year olds won't get SS.

That is a load of crap.

From the SS Trustees' Report:

Social Security expenditures are expected to exceed tax receipts this year for the first time since 1983. The projected deficit of $41 billion this year (excluding interest income) is attributable to the recession and to an expected $25 billion downward adjustment to 2010 income that corrects for excess payroll tax revenue credited to the trust funds in earlier years. This deficit is expected to shrink substantially for 2011 and to return to small surpluses for years 2012-2014 due to the improving economy. After 2014 deficits are expected to grow rapidly as the baby boom generation’s retirement causes the number of beneficiaries to grow substantially more rapidly than the number of covered workers. The annual deficits will be made up by redeeming trust fund assets in amounts less than interest earnings through 2024, and then by redeeming trust fund assets until reserves are exhausted in 2037, at which point tax income would be sufficient to pay about 75 percent of scheduled benefits through 2084. The projected exhaustion date for the combined OASI and DI Trust Funds is unchanged from last year’s report.

Trustees Report Summary



Starting in 2014, the Trust Fund will have to be used to pay beneficiaries. What does that mean? General tax receipts will have to be diverted to paying SS via Trust Fund IOUs - or the government will take on even more debt.

In 2037, benefits will have to be cut by 25%.

Nothing you said contradicts what I said. You've just wasted my time and yours.

 

[boedicca]

Not entirely a waste. We have yet another bit of proof that you neither read for comprehension nor think logically.

 

[Avatar4321]

There will be no Social security when and if you retire.
There will be no public pensions when and if you retire.
Anyone promising something more than 2 years down the line is either lying through their teeth or completely naive about the state of reality.
This government spending will have to be reckoned with and soon.

And yet you just made such a promise.

btw, I'm pretty sure Republicans have been making your claim since the time of FDR.

Out of curiosity? Where did I promise anyone money?

Prove it or retract your lie.

 

[Soggy in NOLA]

No worries, Obamacare will be the one they get right.

 

[Avatar4321]

There will be no Social security when and if you retire.
There will be no public pensions when and if you retire.
Anyone promising something more than 2 years down the line is either lying through their teeth or completely naive about the state of reality.
This government spending will have to be reckoned with and soon.

Did you just support cutting the payroll tax?

We could increase the payroll taxes and the money wont be there.

So we need to stop taxing and promising spending that wont be there. it's dishonest.

 

[Avatar4321]

There will be no Social security when and if you retire.
There will be no public pensions when and if you retire.
Anyone promising something more than 2 years down the line is either lying through their teeth or completely naive about the state of reality.
This government spending will have to be reckoned with and soon.

Some of this have known it to be true for more than 10 years. Where you been?

Trying to convince people on your side of the aisle to stop spending.

The question is why arent you?

 

[VaYank5150]

There will be no Social security when and if you retire.
There will be no public pensions when and if you retire.
Anyone promising something more than 2 years down the line is either lying through their teeth or completely naive about the state of reality.
This government spending will have to be reckoned with and soon.

Some of this have known it to be true for more than 10 years. Where you been?

Trying to convince people on your side of the aisle to stop spending.

The question is why arent you?

Fair enough question. Now, for those on YOUR side of the aisle who suddenly found their conservative roots again, why didn't they demand any spending cuts while they were demanding extending tax cuts?

By the way, I am all for spending cuts, across the board. And when I say across the board, I include defense spending.

 

[G.T.]

There will be no Social security when and if you retire.
There will be no public pensions when and if you retire.
Anyone promising something more than 2 years down the line is either lying through their teeth or completely naive about the state of reality.
This government spending will have to be reckoned with and soon.

And yet you just made such a promise.

btw, I'm pretty sure Republicans have been making your claim since the time of FDR.

Out of curiosity? Where did I promise anyone money?

Prove it or retract your lie.

Your statement says "anyone promising something more than 2 years down the line"

Ravi said "you just made such a promise" (promising 45 year olds and younger what will happen more than 2 years down the line)...

Where did you get her accusing you of promising "money?"

 

[Jarhead]

Some of this have known it to be true for more than 10 years. Where you been?

Trying to convince people on your side of the aisle to stop spending.

The question is why arent you?

Fair enough question. Now, for those on YOUR side of the aisle who suddenly found their conservative roots again, why didn't they demand any spending cuts while they were demanding extending tax cuts?

By the way, I am all for spending cuts, across the board. And when I say across the board, I include defense spending.

They were.
Where have you been?

 

[Soggy in NOLA]

Trying to convince people on your side of the aisle to stop spending.

The question is why arent you?

Fair enough question. Now, for those on YOUR side of the aisle who suddenly found their conservative roots again, why didn't they demand any spending cuts while they were demanding extending tax cuts?

By the way, I am all for spending cuts, across the board. And when I say across the board, I include defense spending.

They were.
Where have you been?

What do you think the Teaparty movement is about? Oh that's right, it's just about keeping the black man down. I forgot.

 

[Ravi]

There will be no Social security when and if you retire.
There will be no public pensions when and if you retire.
Anyone promising something more than 2 years down the line is either lying through their teeth or completely naive about the state of reality.
This government spending will have to be reckoned with and soon.

And yet you just made such a promise.

btw, I'm pretty sure Republicans have been making your claim since the time of FDR.

Out of curiosity? Where did I promise anyone money?

Prove it or retract your lie.

I didn't say you promised money...you promised something, and the something is that SS will disappear.

Do you have this much of a chip on your shoulder in real life?

 

[Avatar4321]

And yet you just made such a promise.

btw, I'm pretty sure Republicans have been making your claim since the time of FDR.

Out of curiosity? Where did I promise anyone money?

Prove it or retract your lie.

I didn't say you promised money...you promised something, and the something is that SS will disappear.

Do you have this much of a chip on your shoulder in real life?

Oh forgive me. I forgot. Im dealing with people who don't care about context, nor have the intellectual honesty to do so.

Carry on. Ignore the problem.

 

[VaYank5150]

Trying to convince people on your side of the aisle to stop spending.

The question is why arent you?

Fair enough question. Now, for those on YOUR side of the aisle who suddenly found their conservative roots again, why didn't they demand any spending cuts while they were demanding extending tax cuts?

By the way, I am all for spending cuts, across the board. And when I say across the board, I include defense spending.

They were.
Where have you been?

They were demanding spending cuts be part of the Bush tax cut extension? If so, why are they not part of the legislation?

 

[Ravi]

Out of curiosity? Where did I promise anyone money?

Prove it or retract your lie.

I didn't say you promised money...you promised something, and the something is that SS will disappear.

Do you have this much of a chip on your shoulder in real life?

Oh forgive me. I forgot. Im dealing with people who don't care about context, nor have the intellectual honesty to do so.

Carry on. Ignore the problem.

boo fucking hoo...you numbnuts have been crying doom and gloom since the beginning of time.

Next time you accuse someone falsely of lying, be sure to go to confession.

 

[VaYank5150]

Fair enough question. Now, for those on YOUR side of the aisle who suddenly found their conservative roots again, why didn't they demand any spending cuts while they were demanding extending tax cuts?

By the way, I am all for spending cuts, across the board. And when I say across the board, I include defense spending.

They were.
Where have you been?

What do you think the Teaparty movement is about? Oh that's right, it's just about keeping the black man down. I forgot.

"Hands off my government run MediCare" while I march in protest of providing others government provided healthcare, is all I need to know about the Tea Party movement....

 

[Sheldon]

I wouldn't be surprised if the retirement age goes to 75, and SS becomes means tested.

Any group of politicians who seriously wants to change that system will be risking a lot of votes though--there's not much incentive to do it.

 

[Jarhead]

They were.
Where have you been?

What do you think the Teaparty movement is about? Oh that's right, it's just about keeping the black man down. I forgot.

"Hands off my government run MediCare" while I march in protest of providing others government provided healthcare, is all I need to know about the Tea Party movement....

So all you want to know of a movement is what was spun?

That pretty much explains who you are VaYank.