I'm on Social Security and I think it should be phased out altogether. I've made several references in the past as to people being able to have retirement funds - and they will work.
As to Gadaway's comments on the US being broke so how do we repay the "loans" Congress has taken from SS over the years - cut the budgets (better yet, do away with) programs such as Fannie Mae and Freddie Mac. They do not need to be making, and/or forcing other entities to make, loans for mortgages for people who are not financially able to meet the mortgage obligations. *Gasp!* What will those people do for housing? Where would they go? Out on the streets, cold and homeless? Well, no. There's a thing called rental property - apartments, condos, single family homes and the rental rates cover a very broad spectrum. I realize the American Dream is to own a home - but it is not a Constitutional right that we actually do own said house.
Cut back on student loans. There is no Constitutional right to higher education at the expense of others. People who can't add 2+2 or read above a 3rd grade level should not have any expectation that they are entitled to higher education. Those who have busted ass to maintain A/B levels of education should be qualified to receive loans for education - with several expectations - like maintaining those high grades - or lose further loans.
Cut the damned earmarks altogether. That one act should save millions of tax dollars on an ongoing basis.
Make welfare a very temporary source of income and have strict guidelines as to who, when, where and what would qualify someone to receive welfare. It should NOT be a generational permanent source of income. On the other hand, someone may have had some event occur where a temporary helping hand should be offered with the expectation that while that helping hand is being offered the recipient should be doing something to reverse and/or cure the setback.
I think Maddie referred to COLA raises being cut. COLA raises to the best of my knowledge and experience are $100 a year (or just over $8 per month). For 2010 and 2011 there were no COLA raises period. Congress declared in 2009 that there would be no increases in America's living costs therefore no COLA increases were necessary. Of course, costs of food, utilities, housing, and everything else did keep on getting higher and higher and our usable dollars kept shrinking and shrinking. Go figure.
I agree but add up all of that it would not pay back 5% of the IOUs.
85% of the budget is social security, military, interest and Mediare.
Cuts HAVE TO be made in social security nd Medicare. Just a fact.
Raising taxes on the "rich" is not the answer. Never raises revenue.