Why Ss/medicare Must Be Improved...average American Will Live To 83 Years !

[healthmyths]

Americans living longer as most death rates fall
Americans living longer as most death rates fall The Salt Lake Tribune

FACTS from the above:
— U.S. life expectancy for a child born in 2012 was 78 years and 9½ months, up about six weeks from life expectancy in 2010 and 2011. That’s a record.

— For someone 65, the CDC estimates that men have about 18 years of life left and women about 20½ years. The gaps between men and women grew slightly, compared to 2011.

— There were 2.5 million deaths in 2012, or about 28,000 more than the year before. The increase was expected, reflecting the nation’s growing and aging population, Anderson said.

So you idiots that are against GIVING Americans under age 55 a choice of how their SS/Medicare account is funded.. THINK about the above statement.
A) More people are living way past what the original SS retirement age of 65
(set up in the 1930s when NO one lived beyond age 65!!!))
B) With more people retiring at 65 and using SS for 20+ years it will not be there for most Americans under 55!
C) With more retired people then working people WHO will be paying SS/Medicare??


Solution is simple!
1) Raise for anyone under age 55 the retirement age to 68. Just 3 years will keep the SS fund solvent!
2) Give ANYONE under 55 the CHOICE to :
a) keep the traditional dependence on SS funding retirement or
b) Letting the under 55 American make their own determination as to where the $300,000+ most
Americans pay into SS/Medicare will be invested.

With these two improvements SS/Medicare will be solvent.
Without them HERE is what the Trustees have concluded:
By these Trustees:
Jacob J. Lew, Secretary of the Treasury, and Managing Trustee of the Trust Funds.
Sylvia M. Burwell, Secretary of Health and Human Services, and Trustee.
Charles P. Blahous III, Trustee.
Thomas E. Perez, Secretary of Labor, and Trustee.
Carolyn W. Colvin, Acting Commissioner of Social Security, and Trustee.
Robert D. Reischauer,Trustee.

The most immediate financing challenge facing any of the trust funds is the projected depletion of the Social Security Disability Insurance (DI) Trust Fund in late 2016.
For Social Security as a whole as well as Medicare,
projected long-range costs are not sustainable with currently scheduled financing and will require legislative action to avoid disruptive consequences for beneficiaries and taxpayers.
Earlier action would also provide more opportunity to ameliorate any adverse impacts on vulnerable populations, including lower-income workers and people already significantly dependent on program benefits.

In 2013, 47.0 million people received OASI benefits, 11.0 million received DI benefits, and 52.3 million were covered under Medicare.
In 2014, the projected difference between Social Security’s expenditures and dedicated tax income is $80 billion.
For HI(Medicare), the projected difference between expenditures and dedicated tax and premium income is $25 billion.
Social Security’s Disability Insurance (DI) program Trust Fund asset reserves, which have been declining since 2008, are projected to be fully depleted in 2016, as reported last year.
SOURCE: Trustees Report Summary

 

[pismoe]

awww , number [1] start drinking lots of beer till you get all pie eyed , roll some good tobacco , eat lots of meat , eggs , and number [5] ride a motorcycle and the problem solves itself especially if you do number 1 and number 5 in the same evening .

 

[g5000]

I have long advocated for the eligibility age for SS and Medicare to be raised to 70, and indexed to 9 percent of the population going forward.

Back in the 80s, Congress raised the age to 68. But...it was not to take full effect until 2022! Long after those cowards were all dead.

Only 5.4% of the American population was over 65 when SS was enacted. In 1964, when Medicare was enacted, 9 percent of Americans were over 65.

Today, that figure has swelled to over 13 percent. Less and less workers are supporting more and more retirees. This is an unsustainable path.

We are living longer, we should be working longer.

 

[pismoe]

I think that people ought to be able to keep their soc security money in their pockets rather than having it confiscated . Since that won't fly I have no problem with people retiring as early as possible [62 think it is] but its also up to them to save independently for their retirement or their just quitting paid work

 

[Moonglow]

I'm in real trouble, the men on my side live to be in their 90's.

 

[healthmyths]

I have long advocated for the eligibility age for SS and Medicare to be raised to 70, and indexed to 9 percent of the population going forward.

Back in the 80s, Congress raised the age to 68. But...it was not to take full effect until 2022! Long after those cowards were all dead.

Only 5.4% of the American population was over 65 when SS was enacted. In 1964, when Medicare was enacted, 9 percent of Americans were over 65.

Today, that figure has swelled to over 13 percent. Less and less workers are supporting more and more retirees. This is an unsustainable path.

We are living longer, we should be working longer.

THANK YOU!!! One of the few of us that understand how the numbers work!
And as I pointed out with the average life span now being 83 for men this will definitely make SS/Medicare bankrupt for ANYONE under age 55 for sure!

 

[Moonglow]

Just get used to working later in life, if you can...

 

[Steven_R]

Just get used to working later in life, if you can...

Which presents a whole other set of problems when there is no upward mobility because the blue hairs just won't leave their positions because they simply can't afford to retire.

 

[g5000]

Just get used to working later in life, if you can...

The system is designed so that your SS payments will be larger the longer you work. Even if you work past the eligibility age. So if you work until you are 70, you will draw a bigger check than someone who retires at 65 or 68.

I plan on working until I am 70, but not for the money. I have just seen too many people retire and then quickly go downhill because they are no longer active.

 

[Disir]

People are under the impression that by raising the age of retirement that the businesses will automatically comply and keep people on or be willing to hire them.
That isn't what we are seeing.
Lift the cap.

 

[g5000]

Just get used to working later in life, if you can...

Which presents a whole other set of problems when there is no upward mobility because the blue hairs just won't leave their positions because they simply can't afford to retire.

Perhaps a 35 hour work week then?

 

[healthmyths]

Just get used to working later in life, if you can...

The system is designed so that your SS payments will be larger the longer you work. Even if you work past the eligibility age. So if you work until you are 70, you will draw a bigger check than someone who retires at 65 or 68.

I plan on working until I am 70, but not for the money. I have just seen too many people retire and then quickly go downhill because they are no longer active.

I agree with you! My son and I have a business and I'm 71 which keeps me very very stimulated.
The only problem though is the vast majority of people over 55 are planning to retire at 65 which is fine for them....
But those under 55 now.... according to the SS trustees WILL NOT see that amount the under 55 maybe counting on.
Again...review what I quoted directly from the SS Trustees..

The most immediate financing challenge facing any of the trust funds is the projected depletion of the Social Security Disability Insurance (DI) Trust Fund in late 2016.
For Social Security as a whole as well as Medicare, projected long-range costs are not sustainable with currently scheduled financing and will require legislative action to avoid disruptive consequences for beneficiaries and taxpayers.

Earlier action would also provide more opportunity to ameliorate any adverse impacts on vulnerable populations, including lower-income workers and people already significantly dependent on program benefits.

In 2013, 47.0 million people received OASI benefits, 11.0 million received DI benefits, and 52.3 million were covered under Medicare.
In 2014, the projected difference between Social Security’s expenditures and dedicated tax income is $80 billion.
For HI(Medicare), the projected difference between expenditures and dedicated tax and premium income is $25 billion.
Social Security’s Disability Insurance (DI) program Trust Fund asset reserves, which have been declining since 2008, are projected to be fully depleted in 2016, as reported last year.
SOURCE: Trustees Report Summary