rightwinger
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- Aug 4, 2009
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- #61
When SS was passed, people lived a few years into their retirement. Now they live decades. Incrementally moving the age to 70 reflects current life expectanciesFar from a Ponzi SchemeSocial Security is an obligation, not a debtSS is solvent
Minor adjustments to retirement age and annual contribution caps will fix it
It is not part of our annual debt
Wrong! It is part of out annual debt. I know it and so does B.O. if it weren’t part of our annual debt, the checks sent out wouldn’t be dependent on raising our debt ceiling.
Obama warns Social Security checks might not be sent Aug. 3
President Obama upped the ante in the ongoing debt-ceiling debate Tuesday, telling CBS News that without raising the ceiling, he can't guarantee that Social Security checks will be sent Aug. 3.
"I cannot guarantee that those checks go out on August 3 if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it," Obama said.
Does that sound like a fully guaranteed and funded entitlement to you?
It is paid by workers in any fiscal year
It is not included in the national debt ceiling
Well apparently B.O. thinks it is, or was he lying when he said it was?
Here are the undeniable facts of this ‘fabulous’ social entitlement which you and other Liberals love-
The cost to tax payers is more than 6 times higher in the first 80 years.
It had funding issues within the first 40 years.
It will be able to pay less than 80% of obligations in only 15 years.
It is a Ponzi scheme in the classic sense. It relies on perpetual growth, and even with perpetual growth it will fail eventually.
In less than 80 years (since FDR) entitlement spending has gone from less than 3% of GDP to nearly 18% of GDP, and in that same period GDP is more than 50 times higher. Do the math. Social Security and other entitlement programs are taking a bigger slice of a bigger pie year after year. Tell me how that is sustainable.
View attachment 250192
Social Security works and is indespendible to hundreds of millions of people
If Congress makes a few simple changes on retirement age and annual contribution limits it is sustainable
In other words continue on the same path Of giving less (raising retirement age) and charging more (raising contributions/taxes).
Those words came out of your mouth and you don’t even realize what you said.
Right now, workers pay in until they reach $125,000 in a year
Double that