Social Security insolvency is a right wing myth meant to scare you

OohPooPahDoo

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Social Security insolvency is a right wing myth meant to scare you.


Seriously. A few points:

1) Many morons have called SS a Ponzi scheme. This is a brain dead characterization. The reason Ponzi schemes fail is because they eventually run out of new investors. Unless we stop having children - there will always be new tax revenues into the system.

2) If nothing is done, Social Security can continue to pay benefits under current law for at least a couple of decades. After that, it can only pay benefits at about 80% - but for as far as can be seen into the future, it can continue to pay at that level - thus, even if the politicians do absolutely nothing - 80% of the program is solvent for as far as can be forecast.

3) Ultimately, the ability of a society to support its retirees and disabled - that is, the ability of those who produce to produce enough for those who cannot produce (either because they are too old to work, or disabled) - doesn't really depend on the particular investment vehicle that those who do not produce use. If the worker to retiree ratio is 2:1 as opposed to 10:1, the workers in the 2:1 situation will have to produce more for the retirees than those in the 10:1 situation. The only exceptions are things that you can actually save for retirement - like a house. Other than your house - everything you need in retirement will have to be made by somebody during (or right before) your retirement.



4) Social Security taxes do not get wasted - most of them go to pay current benefits. If their is extra, the trust fund buys bonds. If their is not enough, they sell some of their bonds. This does push the burden around in time - this is no secret and no one ever tried to cover it up - but over many decades, the SS Trust Fund will spend the same as it takes in (plus interest paid on its Trust Fund balance).
 

kyzr

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Social Security insolvency is a right wing myth meant to scare you.


Seriously. A few points:

1) Many morons have called SS a Ponzi scheme. This is a brain dead characterization. The reason Ponzi schemes fail is because they eventually run out of new investors. Unless we stop having children - there will always be new tax revenues into the system.

2) If nothing is done, Social Security can continue to pay benefits under current law for at least a couple of decades. After that, it can only pay benefits at about 80% - but for as far as can be seen into the future, it can continue to pay at that level - thus, even if the politicians do absolutely nothing - 80% of the program is solvent for as far as can be forecast.

3) Ultimately, the ability of a society to support its retirees and disabled - that is, the ability of those who produce to produce enough for those who cannot produce (either because they are too old to work, or disabled) - doesn't really depend on the particular investment vehicle that those who do not produce use. If the worker to retiree ratio is 2:1 as opposed to 10:1, the workers in the 2:1 situation will have to produce more for the retirees than those in the 10:1 situation. The only exceptions are things that you can actually save for retirement - like a house. Other than your house - everything you need in retirement will have to be made by somebody during (or right before) your retirement.



4) Social Security taxes do not get wasted - most of them go to pay current benefits. If there is extra, the trust fund buys bonds. If their is not enough, they sell some of their bonds. This does push the burden around in time - this is no secret and no one ever tried to cover it up - but over many decades, the SS Trust Fund will spend the same as it takes in (plus interest paid on its Trust Fund balance).
1. It is a ponzi scheme because the population is declining, and the unemployment rate is increasing, which means not enough money to meet obligations (in 2037)

2. Correct, but its better to fix SS now than to wait

3. Not an accounting major are you? Please read the SS Trustee Report. (SS is fixable Medicare is a mess)

4. Its the COMBINATION of SS & Medicare entitlements that is the problem. They OWE $50-trillion in benefits, and can't cover them all. We need them fixed, not idiots who keep saying "there is no problem".

Trustees Report Summary
Conclusion
Projected long-run program costs for both Medicare and Social Security are not sustainable under currently scheduled financing, and will require legislative corrections if disruptive consequences for beneficiaries and taxpayers are to be avoided.
 

CrusaderFrank

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"I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it" Barack "Social Security Really is Bankrupt" Obama, the Downgraded President
 

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Dems 2008: These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis

Dems 2011: These two entities—Social Security and Medicare—are not facing any kind of financial crisis
 

bigrebnc1775

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Social Security insolvency is a right wing myth meant to scare you.


Seriously. A few points:

1) Many morons have called SS a Ponzi scheme. This is a brain dead characterization. The reason Ponzi schemes fail is because they eventually run out of new investors. Unless we stop having children - there will always be new tax revenues into the system.

2) If nothing is done, Social Security can continue to pay benefits under current law for at least a couple of decades. After that, it can only pay benefits at about 80% - but for as far as can be seen into the future, it can continue to pay at that level - thus, even if the politicians do absolutely nothing - 80% of the program is solvent for as far as can be forecast.

3) Ultimately, the ability of a society to support its retirees and disabled - that is, the ability of those who produce to produce enough for those who cannot produce (either because they are too old to work, or disabled) - doesn't really depend on the particular investment vehicle that those who do not produce use. If the worker to retiree ratio is 2:1 as opposed to 10:1, the workers in the 2:1 situation will have to produce more for the retirees than those in the 10:1 situation. The only exceptions are things that you can actually save for retirement - like a house. Other than your house - everything you need in retirement will have to be made by somebody during (or right before) your retirement.



4) Social Security taxes do not get wasted - most of them go to pay current benefits. If their is extra, the trust fund buys bonds. If their is not enough, they sell some of their bonds. This does push the burden around in time - this is no secret and no one ever tried to cover it up - but over many decades, the SS Trust Fund will spend the same as it takes in (plus interest paid on its Trust Fund balance).
If Social Security insolvency is a myth why did obama use social security checks as a hostage to get the debt ceiling limit raised?
 

uscitizen

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Dems 2008: These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis

Dems 2011: These two entities—Social Security and Medicare—are not facing any kind of financial crisis


Republicans 2008 the economy is sound.
Republicans 2011 The economy sucks and it is all Obama,s fault.
 

uscitizen

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Social Security insolvency is a right wing myth meant to scare you.


Seriously. A few points:

1) Many morons have called SS a Ponzi scheme. This is a brain dead characterization. The reason Ponzi schemes fail is because they eventually run out of new investors. Unless we stop having children - there will always be new tax revenues into the system.

2) If nothing is done, Social Security can continue to pay benefits under current law for at least a couple of decades. After that, it can only pay benefits at about 80% - but for as far as can be seen into the future, it can continue to pay at that level - thus, even if the politicians do absolutely nothing - 80% of the program is solvent for as far as can be forecast.

3) Ultimately, the ability of a society to support its retirees and disabled - that is, the ability of those who produce to produce enough for those who cannot produce (either because they are too old to work, or disabled) - doesn't really depend on the particular investment vehicle that those who do not produce use. If the worker to retiree ratio is 2:1 as opposed to 10:1, the workers in the 2:1 situation will have to produce more for the retirees than those in the 10:1 situation. The only exceptions are things that you can actually save for retirement - like a house. Other than your house - everything you need in retirement will have to be made by somebody during (or right before) your retirement.



4) Social Security taxes do not get wasted - most of them go to pay current benefits. If their is extra, the trust fund buys bonds. If their is not enough, they sell some of their bonds. This does push the burden around in time - this is no secret and no one ever tried to cover it up - but over many decades, the SS Trust Fund will spend the same as it takes in (plus interest paid on its Trust Fund balance).
If Social Security insolvency is a myth why did obama use social security checks as a hostage to get the debt ceiling limit raised?
Umm if the people that prinit the checks are liad off no checks will be printed.
Kind of like going to your bank on a holiday, money in there but you can't get it out.
 

CrusaderFrank

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Social Security insolvency is a right wing myth meant to scare you.


Seriously. A few points:

1) Many morons have called SS a Ponzi scheme. This is a brain dead characterization. The reason Ponzi schemes fail is because they eventually run out of new investors. Unless we stop having children - there will always be new tax revenues into the system.

2) If nothing is done, Social Security can continue to pay benefits under current law for at least a couple of decades. After that, it can only pay benefits at about 80% - but for as far as can be seen into the future, it can continue to pay at that level - thus, even if the politicians do absolutely nothing - 80% of the program is solvent for as far as can be forecast.

3) Ultimately, the ability of a society to support its retirees and disabled - that is, the ability of those who produce to produce enough for those who cannot produce (either because they are too old to work, or disabled) - doesn't really depend on the particular investment vehicle that those who do not produce use. If the worker to retiree ratio is 2:1 as opposed to 10:1, the workers in the 2:1 situation will have to produce more for the retirees than those in the 10:1 situation. The only exceptions are things that you can actually save for retirement - like a house. Other than your house - everything you need in retirement will have to be made by somebody during (or right before) your retirement.



4) Social Security taxes do not get wasted - most of them go to pay current benefits. If their is extra, the trust fund buys bonds. If their is not enough, they sell some of their bonds. This does push the burden around in time - this is no secret and no one ever tried to cover it up - but over many decades, the SS Trust Fund will spend the same as it takes in (plus interest paid on its Trust Fund balance).
If Social Security insolvency is a myth why did obama use social security checks as a hostage to get the debt ceiling limit raised?

Well, er, um...Tea Party!
 

Oddball

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Social Security insolvency is a right wing myth meant to scare you.


Seriously. A few points:

1) Many morons have called SS a Ponzi scheme. This is a brain dead characterization. The reason Ponzi schemes fail is because they eventually run out of new investors. Unless we stop having children - there will always be new tax revenues into the system.

2) If nothing is done, Social Security can continue to pay benefits under current law for at least a couple of decades. After that, it can only pay benefits at about 80% - but for as far as can be seen into the future, it can continue to pay at that level - thus, even if the politicians do absolutely nothing - 80% of the program is solvent for as far as can be forecast.

3) Ultimately, the ability of a society to support its retirees and disabled - that is, the ability of those who produce to produce enough for those who cannot produce (either because they are too old to work, or disabled) - doesn't really depend on the particular investment vehicle that those who do not produce use. If the worker to retiree ratio is 2:1 as opposed to 10:1, the workers in the 2:1 situation will have to produce more for the retirees than those in the 10:1 situation. The only exceptions are things that you can actually save for retirement - like a house. Other than your house - everything you need in retirement will have to be made by somebody during (or right before) your retirement.



4) Social Security taxes do not get wasted - most of them go to pay current benefits. If their is extra, the trust fund buys bonds. If their is not enough, they sell some of their bonds. This does push the burden around in time - this is no secret and no one ever tried to cover it up - but over many decades, the SS Trust Fund will spend the same as it takes in (plus interest paid on its Trust Fund balance).
 

CrusaderFrank

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Dems 2008: These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis

Dems 2011: These two entities—Social Security and Medicare—are not facing any kind of financial crisis
Republicans 2008 the economy is sound.
Republicans 2011 The economy sucks and it is all Obama,s fault.
Topic: here

You: Not here.

See the problem?
 

uscitizen

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Another myth is the pie chart showing the vast SS expendatures, the vast majority of that moeny comes from dedicated SS contributions from employees and employers. A small amount is coming from the general fund in the form of repayment of "borrowed SS trust fund surplus funds".


Imagine how military expendatures would look if the SS portion was accurate.
 

uscitizen

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Dems 2008: These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis

Dems 2011: These two entities—Social Security and Medicare—are not facing any kind of financial crisis
Republicans 2008 the economy is sound.
Republicans 2011 The economy sucks and it is all Obama,s fault.
Topic: here

You: Not here.

See the problem?
How could I be there, I am here.

My here is not your here. Thanks be to God!
 

whitehall

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Every sane person interested in the subject admts that social security is not solvent. So the myth must be that social security is doing fine. Barney Frank actually told Americans that Fannie Mae was doing fine when he must have known that it was in deep financial trouble. Frank did nothing to curtail the Fannie collapse. Perhaps it was on purpose or perhaps he was a fool. You be the judge and you be the judge of people who say social security is solvent.
 

uscitizen

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SS is solvent that is a fact. The 2+ trillion that the US govt owes SS is the only problem for a couple of decades.
 

bigrebnc1775

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Social Security insolvency is a right wing myth meant to scare you.


Seriously. A few points:

1) Many morons have called SS a Ponzi scheme. This is a brain dead characterization. The reason Ponzi schemes fail is because they eventually run out of new investors. Unless we stop having children - there will always be new tax revenues into the system.

2) If nothing is done, Social Security can continue to pay benefits under current law for at least a couple of decades. After that, it can only pay benefits at about 80% - but for as far as can be seen into the future, it can continue to pay at that level - thus, even if the politicians do absolutely nothing - 80% of the program is solvent for as far as can be forecast.

3) Ultimately, the ability of a society to support its retirees and disabled - that is, the ability of those who produce to produce enough for those who cannot produce (either because they are too old to work, or disabled) - doesn't really depend on the particular investment vehicle that those who do not produce use. If the worker to retiree ratio is 2:1 as opposed to 10:1, the workers in the 2:1 situation will have to produce more for the retirees than those in the 10:1 situation. The only exceptions are things that you can actually save for retirement - like a house. Other than your house - everything you need in retirement will have to be made by somebody during (or right before) your retirement.



4) Social Security taxes do not get wasted - most of them go to pay current benefits. If their is extra, the trust fund buys bonds. If their is not enough, they sell some of their bonds. This does push the burden around in time - this is no secret and no one ever tried to cover it up - but over many decades, the SS Trust Fund will spend the same as it takes in (plus interest paid on its Trust Fund balance).
If Social Security insolvency is a myth why did obama use social security checks as a hostage to get the debt ceiling limit raised?
Umm if the people that prinit the checks are liad off no checks will be printed.
Kind of like going to your bank on a holiday, money in there but you can't get it out.
Have you ever heard of direct deposit? I may be wrong but I think thats how it works now.
 

uscitizen

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If Social Security insolvency is a myth why did obama use social security checks as a hostage to get the debt ceiling limit raised?
Umm if the people that prinit the checks are liad off no checks will be printed.
Kind of like going to your bank on a holiday, money in there but you can't get it out.
Have you ever heard of direct deposit? I may be wrong but I think thats how it works now.
Umm yes but it still takes human employees to fire off the programs to perform the payments by direct deposit.
Do all SS recipients have direct deposit for their benefit checks?
 

bigrebnc1775

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Umm if the people that prinit the checks are liad off no checks will be printed.
Kind of like going to your bank on a holiday, money in there but you can't get it out.
Have you ever heard of direct deposit? I may be wrong but I think thats how it works now.
Umm yes but it still takes human employees to fire off the programs to perform the payments by direct deposit.
Do all SS recipients have direct deposit for their benefit checks?
It's automated
 

NYcarbineer

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Social Security insolvency is a right wing myth meant to scare you.


Seriously. A few points:

1) Many morons have called SS a Ponzi scheme. This is a brain dead characterization. The reason Ponzi schemes fail is because they eventually run out of new investors. Unless we stop having children - there will always be new tax revenues into the system.

2) If nothing is done, Social Security can continue to pay benefits under current law for at least a couple of decades. After that, it can only pay benefits at about 80% - but for as far as can be seen into the future, it can continue to pay at that level - thus, even if the politicians do absolutely nothing - 80% of the program is solvent for as far as can be forecast.

3) Ultimately, the ability of a society to support its retirees and disabled - that is, the ability of those who produce to produce enough for those who cannot produce (either because they are too old to work, or disabled) - doesn't really depend on the particular investment vehicle that those who do not produce use. If the worker to retiree ratio is 2:1 as opposed to 10:1, the workers in the 2:1 situation will have to produce more for the retirees than those in the 10:1 situation. The only exceptions are things that you can actually save for retirement - like a house. Other than your house - everything you need in retirement will have to be made by somebody during (or right before) your retirement.



4) Social Security taxes do not get wasted - most of them go to pay current benefits. If their is extra, the trust fund buys bonds. If their is not enough, they sell some of their bonds. This does push the burden around in time - this is no secret and no one ever tried to cover it up - but over many decades, the SS Trust Fund will spend the same as it takes in (plus interest paid on its Trust Fund balance).
If Social Security insolvency is a myth why did obama use social security checks as a hostage to get the debt ceiling limit raised?
To give the nuts on the Right a taste of their own medicine. :lol::lol::lol::lol:
 

NYcarbineer

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Every sane person interested in the subject admts that social security is not solvent. So the myth must be that social security is doing fine. Barney Frank actually told Americans that Fannie Mae was doing fine when he must have known that it was in deep financial trouble. Frank did nothing to curtail the Fannie collapse. Perhaps it was on purpose or perhaps he was a fool. You be the judge and you be the judge of people who say social security is solvent.
Social Security paid all its obligations in 2010 with money to spare, and will do so again this year.

That by definition means it's currently solvent.

Any sane person can see that.
 

bigrebnc1775

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Social Security insolvency is a right wing myth meant to scare you.


Seriously. A few points:

1) Many morons have called SS a Ponzi scheme. This is a brain dead characterization. The reason Ponzi schemes fail is because they eventually run out of new investors. Unless we stop having children - there will always be new tax revenues into the system.

2) If nothing is done, Social Security can continue to pay benefits under current law for at least a couple of decades. After that, it can only pay benefits at about 80% - but for as far as can be seen into the future, it can continue to pay at that level - thus, even if the politicians do absolutely nothing - 80% of the program is solvent for as far as can be forecast.

3) Ultimately, the ability of a society to support its retirees and disabled - that is, the ability of those who produce to produce enough for those who cannot produce (either because they are too old to work, or disabled) - doesn't really depend on the particular investment vehicle that those who do not produce use. If the worker to retiree ratio is 2:1 as opposed to 10:1, the workers in the 2:1 situation will have to produce more for the retirees than those in the 10:1 situation. The only exceptions are things that you can actually save for retirement - like a house. Other than your house - everything you need in retirement will have to be made by somebody during (or right before) your retirement.



4) Social Security taxes do not get wasted - most of them go to pay current benefits. If their is extra, the trust fund buys bonds. If their is not enough, they sell some of their bonds. This does push the burden around in time - this is no secret and no one ever tried to cover it up - but over many decades, the SS Trust Fund will spend the same as it takes in (plus interest paid on its Trust Fund balance).
If Social Security insolvency is a myth why did obama use social security checks as a hostage to get the debt ceiling limit raised?
To give the nuts on the Right a taste of their own medicine. :lol::lol::lol::lol:
So you admit obama lied and was a terrorist by holding hostage money due to retired people?
 

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