Social Security: Near-Bankrupt

[Tech_Esq]

fyi, social security HAS NOT ADDED ONE DIME to our national debt...social security has been in SURPLUS and those surplus monies were used to balance the budget that income taxes should have paid for.....

Technically speaking, Social Security has added $400,000,000 to the national debt in the past six months, but...

Not a dime of our existing debt is from social security overspending on retirements....the debt is from congress overspending on the general budget and not collecting enough INCOME TAXES to pay for it.

...as you say, Congress has robbed the Social Security fund of far more than $400,000,000 over the past three decades.

---

I don't blame the people who are receiving Social Security, because they damn well already paid for it. I blame the Congressmen who have stolen their hard-earned money over the past thirty years.

NO it has not added to the national debt. Paying social security BACK for the money congress borrowed from it IS NOT SOCIAL SECURITY causing the debt....social security collected enough social security taxes to pay for a few more decades worth of social security....

the shortfall just means they have to collect from the trust fund of surplus...

Which in turn means congress has to start paying BACK what they borrowed from social security to pay for their spending spending spending on ALL ELSE....

social security is NOT causing the deficit, but spending like drunken sailors is....

So what you are saying is that all these people that have been running about worrying about the health of social security for the last 3 decades were full of shit, right?

http://en.wikipedia.org/wiki/File:Medicare_&_Social_Security_Deficits_Chart.png


You do know that 70% of the budget each year is entitlement spending like Social Security. Only 30% of spending is everything else. This graphic is recent and there for slightly skewed because of the addition of TARP and increased military spending because of Iraq and Afghanistan.

http://en.wikipedia.org/wiki/File:U.S._Federal_Spending_-_FY_2007.png

But you can see from this that non-discretionary spending is the largest portion by far of the yearly budget. In addition, most people include the interested payment on the debt in the non-discretionary column. You can see from the graphic, if you add all these together, what ever you do with discretionary spending is a drop in the bucket.

Not sure why the images aren't working.

 

[kyzr]

Technically speaking, Social Security has added $400,000,000 to the national debt in the past six months, but...



...as you say, Congress has robbed the Social Security fund of far more than $400,000,000 over the past three decades.

---

I don't blame the people who are receiving Social Security, because they damn well already paid for it. I blame the Congressmen who have stolen their hard-earned money over the past thirty years.

NO it has not added to the national debt. Paying social security BACK for the money congress borrowed from it IS NOT SOCIAL SECURITY causing the debt....social security collected enough social security taxes to pay for a few more decades worth of social security....

the shortfall just means they have to collect from the trust fund of surplus...

Which in turn means congress has to start paying BACK what they borrowed from social security to pay for their spending spending spending on ALL ELSE....

social security is NOT causing the deficit, but spending like drunken sailors is....

So what you are saying is that all these people that have been running about worrying about the health of social security for the last 3 decades were full of shit, right?

File:Medicare & Social Security Deficits Chart.png - Wikipedia, the free encyclopedia


You do know that 70% of the budget each year is entitlement spending like Social Security. Only 30% of spending is everything else. This graphic is recent and there for slightly skewed because of the addition of TARP and increased military spending because of Iraq and Afghanistan.

wiki

But you can see from this that non-discretionary spending is the largest portion by far of the yearly budget. In addition, most people include the interested payment on the debt in the non-discretionary column. You can see from the graphic, if you add all these together, what ever you do with discretionary spending is a drop in the bucket. Not sure why the images aren't working.

I fixed the image for you, you need to right click and "copy image url", not the url.

 

[Care4all]

Technically speaking, Social Security has added $400,000,000 to the national debt in the past six months, but...



...as you say, Congress has robbed the Social Security fund of far more than $400,000,000 over the past three decades.

---

I don't blame the people who are receiving Social Security, because they damn well already paid for it. I blame the Congressmen who have stolen their hard-earned money over the past thirty years.

NO it has not added to the national debt. Paying social security BACK for the money congress borrowed from it IS NOT SOCIAL SECURITY causing the debt....social security collected enough social security taxes to pay for a few more decades worth of social security....

the shortfall just means they have to collect from the trust fund of surplus...

Which in turn means congress has to start paying BACK what they borrowed from social security to pay for their spending spending spending on ALL ELSE....

social security is NOT causing the deficit, but spending like drunken sailors is....

So what you are saying is that all these people that have been running about worrying about the health of social security for the last 3 decades were full of shit, right?

File:Medicare & Social Security Deficits Chart.png - Wikipedia, the free encyclopedia


You do know that 70% of the budget each year is entitlement spending like Social Security. Only 30% of spending is everything else. This graphic is recent and there for slightly skewed because of the addition of TARP and increased military spending because of Iraq and Afghanistan.

File:U.S. Federal Spending - FY 2007.png - Wikipedia, the free encyclopedia

But you can see from this that non-discretionary spending is the largest portion by far of the yearly budget. In addition, most people include the interested payment on the debt in the non-discretionary column. You can see from the graphic, if you add all these together, what ever you do with discretionary spending is a drop in the bucket.

Not sure why the images aren't working.

social security taxes have been OVER COLLECTED since reagan doubled our SS taxes, this money is social security's money, AND that there is trillions in our social security trust fund that will have to be drawn on to pay for SS.

NO ONE is asking you with your income taxes to pay for social security...it is a separate tax and it stands on its own....

the chart is deceiving, because president johnson added SS entitlement that received separate taxes, in to the budget....IT WAS NEVER this way before him, but johnson did not want the country's citizens to KNOW what percentage of budget was being spent on the viet nam war....so he had SS added to the budget to MASK the percentage of money being spent on Defense....as you can see in our budget it looks as though only 20 plus percent is spent on defense because of the SS retirement being added to it...take ss out of the budget since it is an entitlement with its own separate funds and see what the chart really looks like. ....

we are NOT collecting enough INCOME TAXES to pay for what income taxes are suppose to pay for....

SS has collected enough taxes to pay for itself AND even have surplus money for when the boomers retire and less workers are there to pay for their parents.

reagan DOUBLED the boomer's SS taxes....so the boomers were not only paying for their parents and grand parent's retirement, BUT THEIR OWN down the road AS WELL.....before this, SS was pay as you go....every generation only had to pay for the previous generation's retirement.

our congress borrowed the surplus money from social security when they overspent their discretionary budget, INSTEAD of borrowing it from a foreign country at a high interest rate....clinton also took the SS surplus monies and bought out some of our foreign debt with it, owing SS instead of owing foreigners at higher interest rates......they ''bought'' some time with it...

now, due to the high unemployment, more seniors have decided to collect SS instead of working and paying more SS taxes and SS has hit a shortfall with what is being collected in taxes now to what is being paid out....BUT SS collected enough surplus SS taxes to pay for this shortfall and the next 20-40 YEARS of shortfall and they will start drawing on these surplus monies.

Congress will have to pay back the money borrowed from SS's fund....

they got a 10-20 year break of not having to pay high interest to a foreigner by borrowing the SS surplus instead of foreign borrowing the money at the time of their deficits....

NOW they will have to borrow the money from others to pay back SS, as SS needs their money to fulfill retirement obligations.

they should have thought about all of this when they were DEFICIT spending!

so yes, there is a problem, but it is in the area of income tax, not SS.

at least not an SS problem for a few more decades...but in a few decades, SS will have a shortfall, with no SS surplus trust funds to draw on....this is when we will only be able to pay about 75% of what was promised to those on SS.

this is why we need to tweak it now...so that we have secured it for 75 years....

SS is not the real problem...medicare health and Pills, is what could bring us down, if health care costs do not stabilize and maintain the same rate of increase as other products in our economy instead of double digit increases in prices, year after year after year.

income taxes should go towards discretionary spending and entitlement taxes should be collected for the entitlement programs imho.

 

[sealybobo]

Social Security cash flow suddenly negative | Washington Examiner

Here’s something I didn’t know, from financial blogger Bruce Krasting (via John Ellis): Social Security tax receipts for the first half of 2010: $346.9 billion; Social Security benefits payments for the same period: $347.3 billion. Before this year, projections have always been that Social Security wouldn’t cross that line into negative cash flow for five years or so. Now it’s a reality. Congress has been spending Social Security’s positive cash flow for years. Now there’s no positive cash flow to spend.

Ten years before the worst doomsayers predicted, Social Security has become a net drag on the budget...and will continue to grow our near-catastrophic national debt.

Pretty soon Republicans will start telling us Social Security is going bankrupt and we need to make drastic cuts.

 

[Aba Incieni]

Social Security cash flow suddenly negative | Washington Examiner

Here’s something I didn’t know, from financial blogger Bruce Krasting (via John Ellis): Social Security tax receipts for the first half of 2010: $346.9 billion; Social Security benefits payments for the same period: $347.3 billion. Before this year, projections have always been that Social Security wouldn’t cross that line into negative cash flow for five years or so. Now it’s a reality. Congress has been spending Social Security’s positive cash flow for years. Now there’s no positive cash flow to spend.

Ten years before the worst doomsayers predicted, Social Security has become a net drag on the budget...and will continue to grow our near-catastrophic national debt.

Pretty soon Republicans will start telling us Social Security is going bankrupt and we need to make drastic cuts.

Well, the elderly did pay for it.

 

[CrusaderFrank]

In Trumps second term, he will invest the trust fund in Large cap US equities. Within a decade, the fund will be in surplus

 

[sealybobo]

Social Security cash flow suddenly negative | Washington Examiner

Here’s something I didn’t know, from financial blogger Bruce Krasting (via John Ellis): Social Security tax receipts for the first half of 2010: $346.9 billion; Social Security benefits payments for the same period: $347.3 billion. Before this year, projections have always been that Social Security wouldn’t cross that line into negative cash flow for five years or so. Now it’s a reality. Congress has been spending Social Security’s positive cash flow for years. Now there’s no positive cash flow to spend.

Ten years before the worst doomsayers predicted, Social Security has become a net drag on the budget...and will continue to grow our near-catastrophic national debt.

Pretty soon Republicans will start telling us Social Security is going bankrupt and we need to make drastic cuts.

Well, the elderly did pay for it.

So did I. I'm 47.

I would love to find out how many people die when they are 64 1/2 and never collect a penny.

 

[sealybobo]

Social Security cash flow suddenly negative | Washington Examiner

Here’s something I didn’t know, from financial blogger Bruce Krasting (via John Ellis): Social Security tax receipts for the first half of 2010: $346.9 billion; Social Security benefits payments for the same period: $347.3 billion. Before this year, projections have always been that Social Security wouldn’t cross that line into negative cash flow for five years or so. Now it’s a reality. Congress has been spending Social Security’s positive cash flow for years. Now there’s no positive cash flow to spend.

Ten years before the worst doomsayers predicted, Social Security has become a net drag on the budget...and will continue to grow our near-catastrophic national debt.

Pretty soon Republicans will start telling us Social Security is going bankrupt and we need to make drastic cuts.

Well, the elderly did pay for it.

For the last 29 years I've been paying for any old **** who's been drawing.

 

[MikeK]

The FICA solvency problem is the result of unwillingness by Congress to do what should have been done years ago, which is increase eligibility age in proportion with expanded life expectancy.

 

[task0778]

Technically speaking, Social Security has added $400,000,000 to the national debt in the past six months, but...



...as you say, Congress has robbed the Social Security fund of far more than $400,000,000 over the past three decades.

---

I don't blame the people who are receiving Social Security, because they damn well already paid for it. I blame the Congressmen who have stolen their hard-earned money over the past thirty years.

NO it has not added to the national debt. Paying social security BACK for the money congress borrowed from it IS NOT SOCIAL SECURITY causing the debt....social security collected enough social security taxes to pay for a few more decades worth of social security....

the shortfall just means they have to collect from the trust fund of surplus...

Which in turn means congress has to start paying BACK what they borrowed from social security to pay for their spending spending spending on ALL ELSE....

social security is NOT causing the deficit, but spending like drunken sailors is....

So what you are saying is that all these people that have been running about worrying about the health of social security for the last 3 decades were full of shit, right?

File:Medicare & Social Security Deficits Chart.png - Wikipedia, the free encyclopedia


You do know that 70% of the budget each year is entitlement spending like Social Security. Only 30% of spending is everything else. This graphic is recent and there for slightly skewed because of the addition of TARP and increased military spending because of Iraq and Afghanistan.

File:U.S. Federal Spending - FY 2007.png - Wikipedia, the free encyclopedia

But you can see from this that non-discretionary spending is the largest portion by far of the yearly budget. In addition, most people include the interested payment on the debt in the non-discretionary column. You can see from the graphic, if you add all these together, what ever you do with discretionary spending is a drop in the bucket.

Not sure why the images aren't working.

social security taxes have been OVER COLLECTED since reagan doubled our SS taxes, this money is social security's money, AND that there is trillions in our social security trust fund that will have to be drawn on to pay for SS.

NO ONE is asking you with your income taxes to pay for social security...it is a separate tax and it stands on its own....

the chart is deceiving, because president johnson added SS entitlement that received separate taxes, in to the budget....IT WAS NEVER this way before him, but johnson did not want the country's citizens to KNOW what percentage of budget was being spent on the viet nam war....so he had SS added to the budget to MASK the percentage of money being spent on Defense....as you can see in our budget it looks as though only 20 plus percent is spent on defense because of the SS retirement being added to it...take ss out of the budget since it is an entitlement with its own separate funds and see what the chart really looks like. ....

we are NOT collecting enough INCOME TAXES to pay for what income taxes are suppose to pay for....

SS has collected enough taxes to pay for itself AND even have surplus money for when the boomers retire and less workers are there to pay for their parents.

reagan DOUBLED the boomer's SS taxes....so the boomers were not only paying for their parents and grand parent's retirement, BUT THEIR OWN down the road AS WELL.....before this, SS was pay as you go....every generation only had to pay for the previous generation's retirement.

our congress borrowed the surplus money from social security when they overspent their discretionary budget, INSTEAD of borrowing it from a foreign country at a high interest rate....clinton also took the SS surplus monies and bought out some of our foreign debt with it, owing SS instead of owing foreigners at higher interest rates......they ''bought'' some time with it...

now, due to the high unemployment, more seniors have decided to collect SS instead of working and paying more SS taxes and SS has hit a shortfall with what is being collected in taxes now to what is being paid out....BUT SS collected enough surplus SS taxes to pay for this shortfall and the next 20-40 YEARS of shortfall and they will start drawing on these surplus monies.

Congress will have to pay back the money borrowed from SS's fund....

they got a 10-20 year break of not having to pay high interest to a foreigner by borrowing the SS surplus instead of foreign borrowing the money at the time of their deficits....

NOW they will have to borrow the money from others to pay back SS, as SS needs their money to fulfill retirement obligations.

they should have thought about all of this when they were DEFICIT spending!

so yes, there is a problem, but it is in the area of income tax, not SS.

at least not an SS problem for a few more decades...but in a few decades, SS will have a shortfall, with no SS surplus trust funds to draw on....this is when we will only be able to pay about 75% of what was promised to those on SS.

this is why we need to tweak it now...so that we have secured it for 75 years....

SS is not the real problem...medicare health and Pills, is what could bring us down, if health care costs do not stabilize and maintain the same rate of increase as other products in our economy instead of double digit increases in prices, year after year after year.

income taxes should go towards discretionary spending and entitlement taxes should be collected for the entitlement programs imho.

Some sort of consumption tax? Isn't that how most social democracies pay for their entitlement programs?

 

[boedicca]

Technically speaking, Social Security has added $400,000,000 to the national debt in the past six months, but...



...as you say, Congress has robbed the Social Security fund of far more than $400,000,000 over the past three decades.

---

I don't blame the people who are receiving Social Security, because they damn well already paid for it. I blame the Congressmen who have stolen their hard-earned money over the past thirty years.

NO it has not added to the national debt. Paying social security BACK for the money congress borrowed from it IS NOT SOCIAL SECURITY causing the debt....social security collected enough social security taxes to pay for a few more decades worth of social security....

the shortfall just means they have to collect from the trust fund of surplus...

Which in turn means congress has to start paying BACK what they borrowed from social security to pay for their spending spending spending on ALL ELSE....

social security is NOT causing the deficit, but spending like drunken sailors is....

So what you are saying is that all these people that have been running about worrying about the health of social security for the last 3 decades were full of shit, right?

File:Medicare & Social Security Deficits Chart.png - Wikipedia, the free encyclopedia


You do know that 70% of the budget each year is entitlement spending like Social Security. Only 30% of spending is everything else. This graphic is recent and there for slightly skewed because of the addition of TARP and increased military spending because of Iraq and Afghanistan.

File:U.S. Federal Spending - FY 2007.png - Wikipedia, the free encyclopedia

But you can see from this that non-discretionary spending is the largest portion by far of the yearly budget. In addition, most people include the interested payment on the debt in the non-discretionary column. You can see from the graphic, if you add all these together, what ever you do with discretionary spending is a drop in the bucket.

Not sure why the images aren't working.

social security taxes have been OVER COLLECTED since reagan doubled our SS taxes, this money is social security's money, AND that there is trillions in our social security trust fund that will have to be drawn on to pay for SS.

NO ONE is asking you with your income taxes to pay for social security...it is a separate tax and it stands on its own....

the chart is deceiving, because president johnson added SS entitlement that received separate taxes, in to the budget....IT WAS NEVER this way before him, but johnson did not want the country's citizens to KNOW what percentage of budget was being spent on the viet nam war....so he had SS added to the budget to MASK the percentage of money being spent on Defense....as you can see in our budget it looks as though only 20 plus percent is spent on defense because of the SS retirement being added to it...take ss out of the budget since it is an entitlement with its own separate funds and see what the chart really looks like. ....

we are NOT collecting enough INCOME TAXES to pay for what income taxes are suppose to pay for....

SS has collected enough taxes to pay for itself AND even have surplus money for when the boomers retire and less workers are there to pay for their parents.

reagan DOUBLED the boomer's SS taxes....so the boomers were not only paying for their parents and grand parent's retirement, BUT THEIR OWN down the road AS WELL.....before this, SS was pay as you go....every generation only had to pay for the previous generation's retirement.

our congress borrowed the surplus money from social security when they overspent their discretionary budget, INSTEAD of borrowing it from a foreign country at a high interest rate....clinton also took the SS surplus monies and bought out some of our foreign debt with it, owing SS instead of owing foreigners at higher interest rates......they ''bought'' some time with it...

now, due to the high unemployment, more seniors have decided to collect SS instead of working and paying more SS taxes and SS has hit a shortfall with what is being collected in taxes now to what is being paid out....BUT SS collected enough surplus SS taxes to pay for this shortfall and the next 20-40 YEARS of shortfall and they will start drawing on these surplus monies.

Congress will have to pay back the money borrowed from SS's fund....

they got a 10-20 year break of not having to pay high interest to a foreigner by borrowing the SS surplus instead of foreign borrowing the money at the time of their deficits....

NOW they will have to borrow the money from others to pay back SS, as SS needs their money to fulfill retirement obligations.

they should have thought about all of this when they were DEFICIT spending!

so yes, there is a problem, but it is in the area of income tax, not SS.

at least not an SS problem for a few more decades...but in a few decades, SS will have a shortfall, with no SS surplus trust funds to draw on....this is when we will only be able to pay about 75% of what was promised to those on SS.

this is why we need to tweak it now...so that we have secured it for 75 years....

SS is not the real problem...medicare health and Pills, is what could bring us down, if health care costs do not stabilize and maintain the same rate of increase as other products in our economy instead of double digit increases in prices, year after year after year.

income taxes should go towards discretionary spending and entitlement taxes should be collected for the entitlement programs imho.

And exactly how does that SS Trust Fund Lockbox work? What's in it?

 

[danielpalos]

No! We need more choking social programs that everyone has a "right" to.

Oh wait, we just passed Health Care! That ought to just about kill everyone of us! (Financially if not literally).

Yet we seem to be able to afford alleged wars on crime, drugs, and terror that the right wing also refuses to pay for with higher taxes.

 

[task0778]

Technically speaking, Social Security has added $400,000,000 to the national debt in the past six months, but...



...as you say, Congress has robbed the Social Security fund of far more than $400,000,000 over the past three decades.

---

I don't blame the people who are receiving Social Security, because they damn well already paid for it. I blame the Congressmen who have stolen their hard-earned money over the past thirty years.

NO it has not added to the national debt. Paying social security BACK for the money congress borrowed from it IS NOT SOCIAL SECURITY causing the debt....social security collected enough social security taxes to pay for a few more decades worth of social security....

the shortfall just means they have to collect from the trust fund of surplus...

Which in turn means congress has to start paying BACK what they borrowed from social security to pay for their spending spending spending on ALL ELSE....

social security is NOT causing the deficit, but spending like drunken sailors is....

So what you are saying is that all these people that have been running about worrying about the health of social security for the last 3 decades were full of shit, right?

File:Medicare & Social Security Deficits Chart.png - Wikipedia, the free encyclopedia


You do know that 70% of the budget each year is entitlement spending like Social Security. Only 30% of spending is everything else. This graphic is recent and there for slightly skewed because of the addition of TARP and increased military spending because of Iraq and Afghanistan.

File:U.S. Federal Spending - FY 2007.png - Wikipedia, the free encyclopedia

But you can see from this that non-discretionary spending is the largest portion by far of the yearly budget. In addition, most people include the interested payment on the debt in the non-discretionary column. You can see from the graphic, if you add all these together, what ever you do with discretionary spending is a drop in the bucket.

Not sure why the images aren't working.

social security taxes have been OVER COLLECTED since reagan doubled our SS taxes, this money is social security's money, AND that there is trillions in our social security trust fund that will have to be drawn on to pay for SS.

NO ONE is asking you with your income taxes to pay for social security...it is a separate tax and it stands on its own....

the chart is deceiving, because president johnson added SS entitlement that received separate taxes, in to the budget....IT WAS NEVER this way before him, but johnson did not want the country's citizens to KNOW what percentage of budget was being spent on the viet nam war....so he had SS added to the budget to MASK the percentage of money being spent on Defense....as you can see in our budget it looks as though only 20 plus percent is spent on defense because of the SS retirement being added to it...take ss out of the budget since it is an entitlement with its own separate funds and see what the chart really looks like. ....

we are NOT collecting enough INCOME TAXES to pay for what income taxes are suppose to pay for....

SS has collected enough taxes to pay for itself AND even have surplus money for when the boomers retire and less workers are there to pay for their parents.

reagan DOUBLED the boomer's SS taxes....so the boomers were not only paying for their parents and grand parent's retirement, BUT THEIR OWN down the road AS WELL.....before this, SS was pay as you go....every generation only had to pay for the previous generation's retirement.

our congress borrowed the surplus money from social security when they overspent their discretionary budget, INSTEAD of borrowing it from a foreign country at a high interest rate....clinton also took the SS surplus monies and bought out some of our foreign debt with it, owing SS instead of owing foreigners at higher interest rates......they ''bought'' some time with it...

now, due to the high unemployment, more seniors have decided to collect SS instead of working and paying more SS taxes and SS has hit a shortfall with what is being collected in taxes now to what is being paid out....BUT SS collected enough surplus SS taxes to pay for this shortfall and the next 20-40 YEARS of shortfall and they will start drawing on these surplus monies.

Congress will have to pay back the money borrowed from SS's fund....

they got a 10-20 year break of not having to pay high interest to a foreigner by borrowing the SS surplus instead of foreign borrowing the money at the time of their deficits....

NOW they will have to borrow the money from others to pay back SS, as SS needs their money to fulfill retirement obligations.

they should have thought about all of this when they were DEFICIT spending!

so yes, there is a problem, but it is in the area of income tax, not SS.

at least not an SS problem for a few more decades...but in a few decades, SS will have a shortfall, with no SS surplus trust funds to draw on....this is when we will only be able to pay about 75% of what was promised to those on SS.

this is why we need to tweak it now...so that we have secured it for 75 years....

SS is not the real problem...medicare health and Pills, is what could bring us down, if health care costs do not stabilize and maintain the same rate of increase as other products in our economy instead of double digit increases in prices, year after year after year.

income taxes should go towards discretionary spending and entitlement taxes should be collected for the entitlement programs imho.

And exactly how does that SS Trust Fund Lockbox work? What's in it?

IOUs, from the US Treasury who will have to borrow money to pay those IOUs. Our prolific spending over the past several decades have shafted future generations who will have to pay the interest on the debt we have wrung up.

 

[boedicca]

Technically speaking, Social Security has added $400,000,000 to the national debt in the past six months, but...



...as you say, Congress has robbed the Social Security fund of far more than $400,000,000 over the past three decades.

---

I don't blame the people who are receiving Social Security, because they damn well already paid for it. I blame the Congressmen who have stolen their hard-earned money over the past thirty years.

NO it has not added to the national debt. Paying social security BACK for the money congress borrowed from it IS NOT SOCIAL SECURITY causing the debt....social security collected enough social security taxes to pay for a few more decades worth of social security....

the shortfall just means they have to collect from the trust fund of surplus...

Which in turn means congress has to start paying BACK what they borrowed from social security to pay for their spending spending spending on ALL ELSE....

social security is NOT causing the deficit, but spending like drunken sailors is....

So what you are saying is that all these people that have been running about worrying about the health of social security for the last 3 decades were full of shit, right?

File:Medicare & Social Security Deficits Chart.png - Wikipedia, the free encyclopedia


You do know that 70% of the budget each year is entitlement spending like Social Security. Only 30% of spending is everything else. This graphic is recent and there for slightly skewed because of the addition of TARP and increased military spending because of Iraq and Afghanistan.

File:U.S. Federal Spending - FY 2007.png - Wikipedia, the free encyclopedia

But you can see from this that non-discretionary spending is the largest portion by far of the yearly budget. In addition, most people include the interested payment on the debt in the non-discretionary column. You can see from the graphic, if you add all these together, what ever you do with discretionary spending is a drop in the bucket.

Not sure why the images aren't working.

social security taxes have been OVER COLLECTED since reagan doubled our SS taxes, this money is social security's money, AND that there is trillions in our social security trust fund that will have to be drawn on to pay for SS.

NO ONE is asking you with your income taxes to pay for social security...it is a separate tax and it stands on its own....

the chart is deceiving, because president johnson added SS entitlement that received separate taxes, in to the budget....IT WAS NEVER this way before him, but johnson did not want the country's citizens to KNOW what percentage of budget was being spent on the viet nam war....so he had SS added to the budget to MASK the percentage of money being spent on Defense....as you can see in our budget it looks as though only 20 plus percent is spent on defense because of the SS retirement being added to it...take ss out of the budget since it is an entitlement with its own separate funds and see what the chart really looks like. ....

we are NOT collecting enough INCOME TAXES to pay for what income taxes are suppose to pay for....

SS has collected enough taxes to pay for itself AND even have surplus money for when the boomers retire and less workers are there to pay for their parents.

reagan DOUBLED the boomer's SS taxes....so the boomers were not only paying for their parents and grand parent's retirement, BUT THEIR OWN down the road AS WELL.....before this, SS was pay as you go....every generation only had to pay for the previous generation's retirement.

our congress borrowed the surplus money from social security when they overspent their discretionary budget, INSTEAD of borrowing it from a foreign country at a high interest rate....clinton also took the SS surplus monies and bought out some of our foreign debt with it, owing SS instead of owing foreigners at higher interest rates......they ''bought'' some time with it...

now, due to the high unemployment, more seniors have decided to collect SS instead of working and paying more SS taxes and SS has hit a shortfall with what is being collected in taxes now to what is being paid out....BUT SS collected enough surplus SS taxes to pay for this shortfall and the next 20-40 YEARS of shortfall and they will start drawing on these surplus monies.

Congress will have to pay back the money borrowed from SS's fund....

they got a 10-20 year break of not having to pay high interest to a foreigner by borrowing the SS surplus instead of foreign borrowing the money at the time of their deficits....

NOW they will have to borrow the money from others to pay back SS, as SS needs their money to fulfill retirement obligations.

they should have thought about all of this when they were DEFICIT spending!

so yes, there is a problem, but it is in the area of income tax, not SS.

at least not an SS problem for a few more decades...but in a few decades, SS will have a shortfall, with no SS surplus trust funds to draw on....this is when we will only be able to pay about 75% of what was promised to those on SS.

this is why we need to tweak it now...so that we have secured it for 75 years....

SS is not the real problem...medicare health and Pills, is what could bring us down, if health care costs do not stabilize and maintain the same rate of increase as other products in our economy instead of double digit increases in prices, year after year after year.

income taxes should go towards discretionary spending and entitlement taxes should be collected for the entitlement programs imho.

And exactly how does that SS Trust Fund Lockbox work? What's in it?

IOUs, from the US Treasury who will have to borrow money to pay those IOUs. Our prolific spending over the past several decades have shafted future generations who will have to pay the interest on the debt we have wrung up.

Indeed. The government spent our Trust Fund on crap.

 

[Care4all]

Technically speaking, Social Security has added $400,000,000 to the national debt in the past six months, but...



...as you say, Congress has robbed the Social Security fund of far more than $400,000,000 over the past three decades.

---

I don't blame the people who are receiving Social Security, because they damn well already paid for it. I blame the Congressmen who have stolen their hard-earned money over the past thirty years.

NO it has not added to the national debt. Paying social security BACK for the money congress borrowed from it IS NOT SOCIAL SECURITY causing the debt....social security collected enough social security taxes to pay for a few more decades worth of social security....

the shortfall just means they have to collect from the trust fund of surplus...

Which in turn means congress has to start paying BACK what they borrowed from social security to pay for their spending spending spending on ALL ELSE....

social security is NOT causing the deficit, but spending like drunken sailors is....

So what you are saying is that all these people that have been running about worrying about the health of social security for the last 3 decades were full of shit, right?

File:Medicare & Social Security Deficits Chart.png - Wikipedia, the free encyclopedia


You do know that 70% of the budget each year is entitlement spending like Social Security. Only 30% of spending is everything else. This graphic is recent and there for slightly skewed because of the addition of TARP and increased military spending because of Iraq and Afghanistan.

File:U.S. Federal Spending - FY 2007.png - Wikipedia, the free encyclopedia

But you can see from this that non-discretionary spending is the largest portion by far of the yearly budget. In addition, most people include the interested payment on the debt in the non-discretionary column. You can see from the graphic, if you add all these together, what ever you do with discretionary spending is a drop in the bucket.

Not sure why the images aren't working.

social security taxes have been OVER COLLECTED since reagan doubled our SS taxes, this money is social security's money, AND that there is trillions in our social security trust fund that will have to be drawn on to pay for SS.

NO ONE is asking you with your income taxes to pay for social security...it is a separate tax and it stands on its own....

the chart is deceiving, because president johnson added SS entitlement that received separate taxes, in to the budget....IT WAS NEVER this way before him, but johnson did not want the country's citizens to KNOW what percentage of budget was being spent on the viet nam war....so he had SS added to the budget to MASK the percentage of money being spent on Defense....as you can see in our budget it looks as though only 20 plus percent is spent on defense because of the SS retirement being added to it...take ss out of the budget since it is an entitlement with its own separate funds and see what the chart really looks like. ....

we are NOT collecting enough INCOME TAXES to pay for what income taxes are suppose to pay for....

SS has collected enough taxes to pay for itself AND even have surplus money for when the boomers retire and less workers are there to pay for their parents.

reagan DOUBLED the boomer's SS taxes....so the boomers were not only paying for their parents and grand parent's retirement, BUT THEIR OWN down the road AS WELL.....before this, SS was pay as you go....every generation only had to pay for the previous generation's retirement.

our congress borrowed the surplus money from social security when they overspent their discretionary budget, INSTEAD of borrowing it from a foreign country at a high interest rate....clinton also took the SS surplus monies and bought out some of our foreign debt with it, owing SS instead of owing foreigners at higher interest rates......they ''bought'' some time with it...

now, due to the high unemployment, more seniors have decided to collect SS instead of working and paying more SS taxes and SS has hit a shortfall with what is being collected in taxes now to what is being paid out....BUT SS collected enough surplus SS taxes to pay for this shortfall and the next 20-40 YEARS of shortfall and they will start drawing on these surplus monies.

Congress will have to pay back the money borrowed from SS's fund....

they got a 10-20 year break of not having to pay high interest to a foreigner by borrowing the SS surplus instead of foreign borrowing the money at the time of their deficits....

NOW they will have to borrow the money from others to pay back SS, as SS needs their money to fulfill retirement obligations.

they should have thought about all of this when they were DEFICIT spending!

so yes, there is a problem, but it is in the area of income tax, not SS.

at least not an SS problem for a few more decades...but in a few decades, SS will have a shortfall, with no SS surplus trust funds to draw on....this is when we will only be able to pay about 75% of what was promised to those on SS.

this is why we need to tweak it now...so that we have secured it for 75 years....

SS is not the real problem...medicare health and Pills, is what could bring us down, if health care costs do not stabilize and maintain the same rate of increase as other products in our economy instead of double digit increases in prices, year after year after year.

income taxes should go towards discretionary spending and entitlement taxes should be collected for the entitlement programs imho.

And exactly how does that SS Trust Fund Lockbox work? What's in it?

IOUs, from the US Treasury who will have to borrow money to pay those IOUs. Our prolific spending over the past several decades have shafted future generations who will have to pay the interest on the debt we have wrung up.

Maybe they would not have to borrow all of it if they would stop giving tax cuts to the wealthiest, and the corporations???

 

[Care4all]

''You all just got a lot richer!'' president Trump said to a bunch of rich club members having dinner with him, this past weekend.

 

[leftwinger]

But "they" GOVT retire at 50? with 4x payments? Fork that. I will have somebodies rear end afore' I buy that bolonga. You want some roofer working from age 18-70 in the hit AZ sun? 80 year old guy pushing in shopping carts in Buffalo?

The FICA solvency problem is the result of unwillingness by Congress to do what should have been done years ago, which is increase eligibility age in proportion with expanded life expectancy.

 

[Aba Incieni]

NO it has not added to the national debt. Paying social security BACK for the money congress borrowed from it IS NOT SOCIAL SECURITY causing the debt....social security collected enough social security taxes to pay for a few more decades worth of social security....

the shortfall just means they have to collect from the trust fund of surplus...

Which in turn means congress has to start paying BACK what they borrowed from social security to pay for their spending spending spending on ALL ELSE....

social security is NOT causing the deficit, but spending like drunken sailors is....

So what you are saying is that all these people that have been running about worrying about the health of social security for the last 3 decades were full of shit, right?

File:Medicare & Social Security Deficits Chart.png - Wikipedia, the free encyclopedia


You do know that 70% of the budget each year is entitlement spending like Social Security. Only 30% of spending is everything else. This graphic is recent and there for slightly skewed because of the addition of TARP and increased military spending because of Iraq and Afghanistan.

File:U.S. Federal Spending - FY 2007.png - Wikipedia, the free encyclopedia

But you can see from this that non-discretionary spending is the largest portion by far of the yearly budget. In addition, most people include the interested payment on the debt in the non-discretionary column. You can see from the graphic, if you add all these together, what ever you do with discretionary spending is a drop in the bucket.

Not sure why the images aren't working.

social security taxes have been OVER COLLECTED since reagan doubled our SS taxes, this money is social security's money, AND that there is trillions in our social security trust fund that will have to be drawn on to pay for SS.

NO ONE is asking you with your income taxes to pay for social security...it is a separate tax and it stands on its own....

the chart is deceiving, because president johnson added SS entitlement that received separate taxes, in to the budget....IT WAS NEVER this way before him, but johnson did not want the country's citizens to KNOW what percentage of budget was being spent on the viet nam war....so he had SS added to the budget to MASK the percentage of money being spent on Defense....as you can see in our budget it looks as though only 20 plus percent is spent on defense because of the SS retirement being added to it...take ss out of the budget since it is an entitlement with its own separate funds and see what the chart really looks like. ....

we are NOT collecting enough INCOME TAXES to pay for what income taxes are suppose to pay for....

SS has collected enough taxes to pay for itself AND even have surplus money for when the boomers retire and less workers are there to pay for their parents.

reagan DOUBLED the boomer's SS taxes....so the boomers were not only paying for their parents and grand parent's retirement, BUT THEIR OWN down the road AS WELL.....before this, SS was pay as you go....every generation only had to pay for the previous generation's retirement.

our congress borrowed the surplus money from social security when they overspent their discretionary budget, INSTEAD of borrowing it from a foreign country at a high interest rate....clinton also took the SS surplus monies and bought out some of our foreign debt with it, owing SS instead of owing foreigners at higher interest rates......they ''bought'' some time with it...

now, due to the high unemployment, more seniors have decided to collect SS instead of working and paying more SS taxes and SS has hit a shortfall with what is being collected in taxes now to what is being paid out....BUT SS collected enough surplus SS taxes to pay for this shortfall and the next 20-40 YEARS of shortfall and they will start drawing on these surplus monies.

Congress will have to pay back the money borrowed from SS's fund....

they got a 10-20 year break of not having to pay high interest to a foreigner by borrowing the SS surplus instead of foreign borrowing the money at the time of their deficits....

NOW they will have to borrow the money from others to pay back SS, as SS needs their money to fulfill retirement obligations.

they should have thought about all of this when they were DEFICIT spending!

so yes, there is a problem, but it is in the area of income tax, not SS.

at least not an SS problem for a few more decades...but in a few decades, SS will have a shortfall, with no SS surplus trust funds to draw on....this is when we will only be able to pay about 75% of what was promised to those on SS.

this is why we need to tweak it now...so that we have secured it for 75 years....

SS is not the real problem...medicare health and Pills, is what could bring us down, if health care costs do not stabilize and maintain the same rate of increase as other products in our economy instead of double digit increases in prices, year after year after year.

income taxes should go towards discretionary spending and entitlement taxes should be collected for the entitlement programs imho.

And exactly how does that SS Trust Fund Lockbox work? What's in it?

IOUs, from the US Treasury who will have to borrow money to pay those IOUs. Our prolific spending over the past several decades have shafted future generations who will have to pay the interest on the debt we have wrung up.

Maybe they would not have to borrow all of it if they would stop giving tax cuts to the wealthiest, and the corporations???

Without corporations and their jobs, who would pay into SS?

 

[task0778]

NO it has not added to the national debt. Paying social security BACK for the money congress borrowed from it IS NOT SOCIAL SECURITY causing the debt....social security collected enough social security taxes to pay for a few more decades worth of social security....

the shortfall just means they have to collect from the trust fund of surplus...

Which in turn means congress has to start paying BACK what they borrowed from social security to pay for their spending spending spending on ALL ELSE....

social security is NOT causing the deficit, but spending like drunken sailors is....

So what you are saying is that all these people that have been running about worrying about the health of social security for the last 3 decades were full of shit, right?

File:Medicare & Social Security Deficits Chart.png - Wikipedia, the free encyclopedia


You do know that 70% of the budget each year is entitlement spending like Social Security. Only 30% of spending is everything else. This graphic is recent and there for slightly skewed because of the addition of TARP and increased military spending because of Iraq and Afghanistan.

File:U.S. Federal Spending - FY 2007.png - Wikipedia, the free encyclopedia

But you can see from this that non-discretionary spending is the largest portion by far of the yearly budget. In addition, most people include the interested payment on the debt in the non-discretionary column. You can see from the graphic, if you add all these together, what ever you do with discretionary spending is a drop in the bucket.

Not sure why the images aren't working.

social security taxes have been OVER COLLECTED since reagan doubled our SS taxes, this money is social security's money, AND that there is trillions in our social security trust fund that will have to be drawn on to pay for SS.

NO ONE is asking you with your income taxes to pay for social security...it is a separate tax and it stands on its own....

the chart is deceiving, because president johnson added SS entitlement that received separate taxes, in to the budget....IT WAS NEVER this way before him, but johnson did not want the country's citizens to KNOW what percentage of budget was being spent on the viet nam war....so he had SS added to the budget to MASK the percentage of money being spent on Defense....as you can see in our budget it looks as though only 20 plus percent is spent on defense because of the SS retirement being added to it...take ss out of the budget since it is an entitlement with its own separate funds and see what the chart really looks like. ....

we are NOT collecting enough INCOME TAXES to pay for what income taxes are suppose to pay for....

SS has collected enough taxes to pay for itself AND even have surplus money for when the boomers retire and less workers are there to pay for their parents.

reagan DOUBLED the boomer's SS taxes....so the boomers were not only paying for their parents and grand parent's retirement, BUT THEIR OWN down the road AS WELL.....before this, SS was pay as you go....every generation only had to pay for the previous generation's retirement.

our congress borrowed the surplus money from social security when they overspent their discretionary budget, INSTEAD of borrowing it from a foreign country at a high interest rate....clinton also took the SS surplus monies and bought out some of our foreign debt with it, owing SS instead of owing foreigners at higher interest rates......they ''bought'' some time with it...

now, due to the high unemployment, more seniors have decided to collect SS instead of working and paying more SS taxes and SS has hit a shortfall with what is being collected in taxes now to what is being paid out....BUT SS collected enough surplus SS taxes to pay for this shortfall and the next 20-40 YEARS of shortfall and they will start drawing on these surplus monies.

Congress will have to pay back the money borrowed from SS's fund....

they got a 10-20 year break of not having to pay high interest to a foreigner by borrowing the SS surplus instead of foreign borrowing the money at the time of their deficits....

NOW they will have to borrow the money from others to pay back SS, as SS needs their money to fulfill retirement obligations.

they should have thought about all of this when they were DEFICIT spending!

so yes, there is a problem, but it is in the area of income tax, not SS.

at least not an SS problem for a few more decades...but in a few decades, SS will have a shortfall, with no SS surplus trust funds to draw on....this is when we will only be able to pay about 75% of what was promised to those on SS.

this is why we need to tweak it now...so that we have secured it for 75 years....

SS is not the real problem...medicare health and Pills, is what could bring us down, if health care costs do not stabilize and maintain the same rate of increase as other products in our economy instead of double digit increases in prices, year after year after year.

income taxes should go towards discretionary spending and entitlement taxes should be collected for the entitlement programs imho.

And exactly how does that SS Trust Fund Lockbox work? What's in it?

IOUs, from the US Treasury who will have to borrow money to pay those IOUs. Our prolific spending over the past several decades have shafted future generations who will have to pay the interest on the debt we have wrung up.

Maybe they would not have to borrow all of it if they would stop giving tax cuts to the wealthiest, and the corporations???

NO it has not added to the national debt. Paying social security BACK for the money congress borrowed from it IS NOT SOCIAL SECURITY causing the debt....social security collected enough social security taxes to pay for a few more decades worth of social security....

the shortfall just means they have to collect from the trust fund of surplus...

Which in turn means congress has to start paying BACK what they borrowed from social security to pay for their spending spending spending on ALL ELSE....

social security is NOT causing the deficit, but spending like drunken sailors is....

So what you are saying is that all these people that have been running about worrying about the health of social security for the last 3 decades were full of shit, right?

File:Medicare & Social Security Deficits Chart.png - Wikipedia, the free encyclopedia


You do know that 70% of the budget each year is entitlement spending like Social Security. Only 30% of spending is everything else. This graphic is recent and there for slightly skewed because of the addition of TARP and increased military spending because of Iraq and Afghanistan.

File:U.S. Federal Spending - FY 2007.png - Wikipedia, the free encyclopedia

But you can see from this that non-discretionary spending is the largest portion by far of the yearly budget. In addition, most people include the interested payment on the debt in the non-discretionary column. You can see from the graphic, if you add all these together, what ever you do with discretionary spending is a drop in the bucket.

Not sure why the images aren't working.

social security taxes have been OVER COLLECTED since reagan doubled our SS taxes, this money is social security's money, AND that there is trillions in our social security trust fund that will have to be drawn on to pay for SS.

NO ONE is asking you with your income taxes to pay for social security...it is a separate tax and it stands on its own....

the chart is deceiving, because president johnson added SS entitlement that received separate taxes, in to the budget....IT WAS NEVER this way before him, but johnson did not want the country's citizens to KNOW what percentage of budget was being spent on the viet nam war....so he had SS added to the budget to MASK the percentage of money being spent on Defense....as you can see in our budget it looks as though only 20 plus percent is spent on defense because of the SS retirement being added to it...take ss out of the budget since it is an entitlement with its own separate funds and see what the chart really looks like. ....

we are NOT collecting enough INCOME TAXES to pay for what income taxes are suppose to pay for....

SS has collected enough taxes to pay for itself AND even have surplus money for when the boomers retire and less workers are there to pay for their parents.

reagan DOUBLED the boomer's SS taxes....so the boomers were not only paying for their parents and grand parent's retirement, BUT THEIR OWN down the road AS WELL.....before this, SS was pay as you go....every generation only had to pay for the previous generation's retirement.

our congress borrowed the surplus money from social security when they overspent their discretionary budget, INSTEAD of borrowing it from a foreign country at a high interest rate....clinton also took the SS surplus monies and bought out some of our foreign debt with it, owing SS instead of owing foreigners at higher interest rates......they ''bought'' some time with it...

now, due to the high unemployment, more seniors have decided to collect SS instead of working and paying more SS taxes and SS has hit a shortfall with what is being collected in taxes now to what is being paid out....BUT SS collected enough surplus SS taxes to pay for this shortfall and the next 20-40 YEARS of shortfall and they will start drawing on these surplus monies.

Congress will have to pay back the money borrowed from SS's fund....

they got a 10-20 year break of not having to pay high interest to a foreigner by borrowing the SS surplus instead of foreign borrowing the money at the time of their deficits....

NOW they will have to borrow the money from others to pay back SS, as SS needs their money to fulfill retirement obligations.

they should have thought about all of this when they were DEFICIT spending!

so yes, there is a problem, but it is in the area of income tax, not SS.

at least not an SS problem for a few more decades...but in a few decades, SS will have a shortfall, with no SS surplus trust funds to draw on....this is when we will only be able to pay about 75% of what was promised to those on SS.

this is why we need to tweak it now...so that we have secured it for 75 years....

SS is not the real problem...medicare health and Pills, is what could bring us down, if health care costs do not stabilize and maintain the same rate of increase as other products in our economy instead of double digit increases in prices, year after year after year.

income taxes should go towards discretionary spending and entitlement taxes should be collected for the entitlement programs imho.

And exactly how does that SS Trust Fund Lockbox work? What's in it?

IOUs, from the US Treasury who will have to borrow money to pay those IOUs. Our prolific spending over the past several decades have shafted future generations who will have to pay the interest on the debt we have wrung up.

Maybe they would not have to borrow all of it if they would stop giving tax cuts to the wealthiest, and the corporations???

We needed to make doing business in US more competitive with the rest of the world, and most of that cut in corp tax rates does go to the wealthier people who have the most money invested. Not all though, those middle class people with a 401k are going to benefit too and that's a lot of people. If you want more investments and new business creation and expansion then you have to make investing more attractive, it's really as simple as that. And I don't think lowering tax rate a couple of % points for the top rate added much to that $1.5 trillion cost over 10 years. There's a lot of middle class families that are going to get more money in their paychecks in February thanks to this tax cut bill, a lot more of them than however many of the wealthiest people benefit.

 

[miketx]

Social Security cash flow suddenly negative | Washington Examiner

Here’s something I didn’t know, from financial blogger Bruce Krasting (via John Ellis): Social Security tax receipts for the first half of 2010: $346.9 billion; Social Security benefits payments for the same period: $347.3 billion. Before this year, projections have always been that Social Security wouldn’t cross that line into negative cash flow for five years or so. Now it’s a reality. Congress has been spending Social Security’s positive cash flow for years. Now there’s no positive cash flow to spend.

Ten years before the worst doomsayers predicted, Social Security has become a net drag on the budget...and will continue to grow our near-catastrophic national debt.

Pretty soon Republicans will start telling us Social Security is going bankrupt and we need to make drastic cuts.

Well, the elderly did pay for it.

For the last 29 years I've been paying for any old **** who's been drawing.

Thank you so much. I bought a new gun yesterday! But what about the money taken from "any old ****"?