Social Security: It's worse than you think

[Toro]

SS should be run like a real pension fund. And those who want to invest their own savings should be allowed to do so.

The problem with any real changes to SS or Medicare is, the people don't want it. Those programs are very popular, just the way they are.

That is a problem. Because if they aren't changed, they are going to eventually run dry. And those who think something will be there for them are going to be unpleasantly surprised.

 

[NYcarbineer]

Social Security still has a $2.7 trillion surplus and is good to around 2033 - even with no changes.

Plus, Social Security doesn't cost the government one penny - other than the interest paid on the government bonds held by Social Security - just like China and other holders of U.S. debt.

Social Security is the largest holder of U.S. debt - which is why NaziCons would like to **** it over.

So, what if the U.S. can't pay back the debt owed SS... ever consider that? WTF is $2T of IOU's actually worth if the guarantor is already $16T in debt and climbing?

Use your head for once.

The US doesn't have to pay the 3 trillion back. That is one of the big myths on this subject. the trust fund is invested money, like you would invest your retirement funds. you live off the interest generated you don't draw down the principal. that's why SS only needs to be adjusted,

to at least keep annual outflow equal to or less than incoming payroll taxes plus earned interest.

 

[Quantum Windbag]

The problem with any real changes to SS or Medicare is, the people don't want it. Those programs are very popular, just the way they are.

Except when they are not.. as stated so many times before.. if it is SO popular, why make it that there is no choice but to participate?? If it is that good, it would be flocked to even if there is an opt out for other choices

Poll: Social Security still popular - Maggie Haberman - POLITICO.com

8 in 10 adults like SS.

Those programs are wildly popular, despite how either of us feel about them.

Don't you think we should do something to make sure it actually works?

 

[Quantum Windbag]

Social Security still has a $2.7 trillion surplus and is good to around 2033 - even with no changes.

Plus, Social Security doesn't cost the government one penny - other than the interest paid on the government bonds held by Social Security - just like China and other holders of U.S. debt.

Social Security is the largest holder of U.S. debt - which is why NaziCons would like to **** it over.

So, what if the U.S. can't pay back the debt owed SS... ever consider that? WTF is $2T of IOU's actually worth if the guarantor is already $16T in debt and climbing?

Use your head for once.

The US doesn't have to pay the 3 trillion back. That is one of the big myths on this subject. the trust fund is invested money, like you would invest your retirement funds. you live off the interest generated you don't draw down the principal. that's why SS only needs to be adjusted,

to at least keep annual outflow equal to or less than incoming payroll taxes plus earned interest.

That only works if you don't understand math.

 

[NYcarbineer]

So, what if the U.S. can't pay back the debt owed SS... ever consider that? WTF is $2T of IOU's actually worth if the guarantor is already $16T in debt and climbing?

Use your head for once.

The US doesn't have to pay the 3 trillion back. That is one of the big myths on this subject. the trust fund is invested money, like you would invest your retirement funds. you live off the interest generated you don't draw down the principal. that's why SS only needs to be adjusted,

to at least keep annual outflow equal to or less than incoming payroll taxes plus earned interest.

That only works if you don't understand math.

There's no need to be an asshole with every post you make. We get it. You're an asshole.

Now tell me what is wrong with the math specifically.

 

[Toro]

The US doesn't have to pay the 3 trillion back. That is one of the big myths on this subject. the trust fund is invested money, like you would invest your retirement funds. you live off the interest generated you don't draw down the principal. that's why SS only needs to be adjusted,

to at least keep annual outflow equal to or less than incoming payroll taxes plus earned interest.

That only works if you don't understand math.

There's no need to be an asshole with every post you make. We get it. You're an asshole.

Now tell me what is wrong with the math specifically.

The return isn't high enough to make it solvent. That's the point. If it were like a real pension fund, it would solve this problem.

 

[NYcarbineer]

That only works if you don't understand math.

There's no need to be an asshole with every post you make. We get it. You're an asshole.

Now tell me what is wrong with the math specifically.

The return isn't high enough to make it solvent. That's the point. If it were like a real pension fund, it would solve this problem.

The Trust Fund has been growing since 1983 when the last major SS reform took place.

How can the Trust Fund be growing if SS is going broke?

 

[Political Junky]

Show of hands for those willing to take Social Security away from their parents, or give up their own.

 

[NYcarbineer]

Show of hands for those willing to take Social Security away from their parents, or their own.

I'm getting nearer and nearer to retirement and SS is going to effectively pay for all my survival necessities,

making my pensions and savings GRAVY.

And I never missed all that payroll tax I paid. I am very grateful it was taken out and set aside for me.

 

[DiamondDave]

Show of hands for those willing to take Social Security away from their parents, or give up their own.

I will GLADLY give up my own.. every last cent I put into it already.. just exempt me from any future payments to it.. and I will ask for no government assistance, no matter what the result of my personal investing is

 

[DiamondDave]

There's no need to be an asshole with every post you make. We get it. You're an asshole.

Now tell me what is wrong with the math specifically.

The return isn't high enough to make it solvent. That's the point. If it were like a real pension fund, it would solve this problem.

The Trust Fund has been growing since 1983 when the last major SS reform took place.

How can the Trust Fund be growing if SS is going broke?

There is no money in the 'trust fund'... it is GONE.. it is not getting paid back.. it is not solvent.. it is not taking in as much as is paid out.. the government is spending more against it all the time...

it is a SHAM.. you know it, unless you are a moron.. yet you continue to just tote your extremist party line

 

[MikeK]

The return isn't high enough to make it solvent. That's the point. If it were like a real pension fund, it would solve this problem.

The Trust Fund has been growing since 1983 when the last major SS reform took place.

How can the Trust Fund be growing if SS is going broke?

There is no money in the 'trust fund'... it is GONE.. it is not getting paid back.. it is not solvent.. it is not taking in as much as is paid out.. the government is spending more against it all the time...

it is a SHAM.. you know it, unless you are a moron.. yet you continue to just tote your extremist party line

The Social Security Trust Fund is not a big piggy bank containing a lot of cash. It is a government IOU. Which means if the full faith and credit of the U.S. Government defaults we will have a lot more than Social Security to worry about.

 

[Quantum Windbag]

The US doesn't have to pay the 3 trillion back. That is one of the big myths on this subject. the trust fund is invested money, like you would invest your retirement funds. you live off the interest generated you don't draw down the principal. that's why SS only needs to be adjusted,

to at least keep annual outflow equal to or less than incoming payroll taxes plus earned interest.

That only works if you don't understand math.

There's no need to be an asshole with every post you make. We get it. You're an asshole.

Now tell me what is wrong with the math specifically.

You made those absurd statements seriously?

What math did you use to come to your conclusion? Just asking, because all I saw were stupid staements that ignored both reality and math.

You would have been better off asking what assumptions you are making that are so stupid they don't deserve to be called assumptions.

First things first, what makes you think that the government does not have to repay loans to social Security? Are you operating on the assumption that the principle will never have to be repaid simply because you didn't bother to read the report in the OP? It used the numbers published by the government to support its position, yet you insist that the numbers that the you pulled out of thin air prove you are the one that is right. Tell me something, why should I be forced to prove your math is wrong when you not only do not use math, you make up facts out of whole cloth?

 

[Quantum Windbag]

There's no need to be an asshole with every post you make. We get it. You're an asshole.

Now tell me what is wrong with the math specifically.

The return isn't high enough to make it solvent. That's the point. If it were like a real pension fund, it would solve this problem.

The Trust Fund has been growing since 1983 when the last major SS reform took place.

How can the Trust Fund be growing if SS is going broke?

Because it stopped growing. It has been paying out more than it has taken in the last two years, do you live under a rock?

 

[francoHFW]

Pretty scary, dupes...the AARP says SS going bankrupt is the USA's #1 myth.

And no, you have to do it , because otherwise 80% of you twits will end up total wards of the state.

 

[francoHFW]

It can be fixed easily, by raising the contribution limit.

 

[Toro]

There's no need to be an asshole with every post you make. We get it. You're an asshole.

Now tell me what is wrong with the math specifically.

The return isn't high enough to make it solvent. That's the point. If it were like a real pension fund, it would solve this problem.

The Trust Fund has been growing since 1983 when the last major SS reform took place.

How can the Trust Fund be growing if SS is going broke?

SS is unlikely to go broke. More likely, it won't be able to pay all the liabilities it has promised. It's growing but it's not growing fast enough, given the assumed demographic changes, likely rates of return, contribution rates, etc.

Medicare and Medicaid are much worse. They are in danger of going bust, given the trends in medical inflation.

 

[JakeStarkey]

Raise the limit on income that is being taxed and create a means test for benefits.

 

[NYcarbineer]

The return isn't high enough to make it solvent. That's the point. If it were like a real pension fund, it would solve this problem.

The Trust Fund has been growing since 1983 when the last major SS reform took place.

How can the Trust Fund be growing if SS is going broke?

Because it stopped growing. It has been paying out more than it has taken in the last two years, do you live under a rock?

That's not true.

Social Security’s expenditures exceeded non-interest income in 2010 and 2011, the first such occurrences since 1983, and the Trustees estimate that these expenditures will remain greater than non-interest income throughout the 75-year projection period. The deficit of non-interest income relative to expenditures was about $49 billion in 2010 and $45 billion in 2011, and the Trustees project that it will average about $66 billion between 2012 and 2018 before rising steeply as the economy slows after the recovery is complete and the number of beneficiaries continues to grow at a substantially faster rate than the number of covered workers. Redemption of trust fund assets from the General Fund of the Treasury will provide the resources needed to offset the annual cash-flow deficits. Since these redemptions will be less than interest earnings through 2020, nominal trust fund balances will continue to grow.

If you need me to explain to you why the highlighted line proves you don't know what you're talking about, by all means ask.

Trustees Report Summary

 

[NYcarbineer]

That only works if you don't understand math.

There's no need to be an asshole with every post you make. We get it. You're an asshole.

Now tell me what is wrong with the math specifically.

You made those absurd statements seriously?

What math did you use to come to your conclusion? Just asking, because all I saw were stupid staements that ignored both reality and math.

You would have been better off asking what assumptions you are making that are so stupid they don't deserve to be called assumptions.

First things first, what makes you think that the government does not have to repay loans to social Security? Are you operating on the assumption that the principle will never have to be repaid simply because you didn't bother to read the report in the OP? It used the numbers published by the government to support its position, yet you insist that the numbers that the you pulled out of thin air prove you are the one that is right. Tell me something, why should I be forced to prove your math is wrong when you not only do not use math, you make up facts out of whole cloth?

You should prove my math wrong because you're the one who claimed I don't know the math and you do.