Social Security Payments Will Exceed Revenue in 2021

[mikegriffith1]

The Social Security Board of Trustees has just informed Congress that starting next year, Social Security (SS) payments will exceed payroll tax revenue, and that the SS reserve fund will run out by 2035:

Social Security payouts next year will exceed incoming revenue, according to a new Social Security Board of Trustees audit.

In their annual report to Congress, the trustees announced that in 2021 the cost of the Social Security program will for the first time since 1982 "exceed total annual income” – leading to a depletion of asset reserves that will run out completely by 2035. (

Cost of Social Security will exceed program's income in 2021, says board of trustees

In their annual report to congress the Social Security Board of Trustees projected a bleak and desperate future for the program

justthenews.com

)

Do even a few Democrats wish they had not demagogued and blocked George W. Bush's sound SS reform proposal in 2005?

What if George W. Bush’s Social Security reforms had passed? - Washington Examiner

More than a decade ago, President George W. Bush set out to fix what he called a broken Social Security system. In 2001, intermediate projections had shown the retirement trust fund would be exhausted in 2040. By 2005, finances had improved and the projected exhaustion date was 2043. But today...

www.washingtonexaminer.com

 

[miketx]

No the vermin want to cause as much evil as they can.

 

[Mr Natural]

Easy fix.

Raise or eliminate the earnings cap.

 

[berg80]

Another attempt to blame Dems for a Repub failure.

The 2004 election gave President George W. Bush a second term in office and expanded Republican majorities in both houses of Congress. So soon afterward, he pledged to spend the “political capital” he said he’d earned on a longtime conservative priority — the partial privatization of Social Security.

The effort failed. Despite those sizable GOP majorities and the president’s own barnstorming across the country to sell his proposal, creating private accounts for Social Security became so toxic that it was never brought to a vote in either the House or Senate.

In 2005, Republicans controlled Washington. Their agenda failed. Here's why.

A cautionary tale for Donald Trump — and Democrats.

www.vox.com

This is what the experts really want to see happen to fix Social Security

The clock is ticking when it comes to whether Social Security reform will happen before a reduction in benefits kicks in. Politicians have come up with their own proposals. But here's how the experts, who have spent countless hours studying the problem, would restore or overhaul it if they had...

www.cnbc.com

 

[MarathonMike]

Easy fix.

Raise or eliminate the earnings cap.

Before taxing workers more, I'd like to see the waste, fraud and abuse of Social Security be aggressively pursued.

 

[JustAnotherNut]

Well......if nobody is working & paying into it.....whadya think would happen?

More reason to get people back to work

 

[MarathonMike]

Well......if nobody is working & paying into it.....whadya think would happen?

More reason to get people back to work

Yes we also have an inverted pyramid with a shrinking base of workers supporting an ever expanding group of retirees, dependents and fraudsters.

 

[eagle1462010]

New York has a plan for this.

Cuomo didn’t know coronavirus patients are being sent back to nursing homes

New York’s health commissioner on Monday defended a directive that requires nursing homes to readmit residents who’ve tested positive for the coronavirus — as Gov. Andrew Cuomo re…

nypost.com

 

[JustAnotherNut]

Well......if nobody is working & paying into it.....whadya think would happen?

More reason to get people back to work

Yes we also have an inverted pyramid with a shrinking base of workers supporting an ever expanding group of retirees, dependents and fraudsters.

that shrinking base of workers...….do you mean currently with Covid? Or regular times?

 

[Bootney Lee Farnsworth]

The Social Security Board of Trustees has just informed Congress that starting next year, Social Security (SS) payments will exceed payroll tax revenue, and that the SS reserve fund will run out by 2035:

Social Security payouts next year will exceed incoming revenue, according to a new Social Security Board of Trustees audit.

In their annual report to Congress, the trustees announced that in 2021 the cost of the Social Security program will for the first time since 1982 "exceed total annual income” – leading to a depletion of asset reserves that will run out completely by 2035. (

Cost of Social Security will exceed program's income in 2021, says board of trustees

In their annual report to congress the Social Security Board of Trustees projected a bleak and desperate future for the program

justthenews.com

)

Do even a few Democrats wish they had not demagogued and blocked George W. Bush's sound SS reform proposal in 2005?

What if George W. Bush’s Social Security reforms had passed? - Washington Examiner

More than a decade ago, President George W. Bush set out to fix what he called a broken Social Security system. In 2001, intermediate projections had shown the retirement trust fund would be exhausted in 2040. By 2005, finances had improved and the projected exhaustion date was 2043. But today...

www.washingtonexaminer.com

And, the Ponzi scheme comes crashing down.

.

 

[Admiral Rockwell Tory]

Easy fix.

Raise or eliminate the earnings cap.

If you do that, you must also raise the amount of return. A person paying tens of thousands in SS tax throughout their lifetime should not get $1200 a month.

 

[Admiral Rockwell Tory]

Easy fix.

Raise or eliminate the earnings cap.

Before taxing workers more, I'd like to see the waste, fraud and abuse of Social Security be aggressively pursued.

What would that be? People retiring with fake IDs saying they are 65 when they re 25?

 

[Admiral Rockwell Tory]

Well......if nobody is working & paying into it.....whadya think would happen?

More reason to get people back to work

Yes we also have an inverted pyramid with a shrinking base of workers supporting an ever expanding group of retirees, dependents and fraudsters.

We just eliminated a couple of ten thousand COVID-19 victims. Does that make you happy?

 

[Siete]

The Social Security Board of Trustees has just informed Congress that starting next year, Social Security (SS) payments will exceed payroll tax revenue, and that the SS reserve fund will run out by 2035:

Social Security payouts next year will exceed incoming revenue, according to a new Social Security Board of Trustees audit.

In their annual report to Congress, the trustees announced that in 2021 the cost of the Social Security program will for the first time since 1982 "exceed total annual income” – leading to a depletion of asset reserves that will run out completely by 2035. (

Cost of Social Security will exceed program's income in 2021, says board of trustees

In their annual report to congress the Social Security Board of Trustees projected a bleak and desperate future for the program

justthenews.com

)

Do even a few Democrats wish they had not demagogued and blocked George W. Bush's sound SS reform proposal in 2005?

What if George W. Bush’s Social Security reforms had passed? - Washington Examiner

More than a decade ago, President George W. Bush set out to fix what he called a broken Social Security system. In 2001, intermediate projections had shown the retirement trust fund would be exhausted in 2040. By 2005, finances had improved and the projected exhaustion date was 2043. But today...

www.washingtonexaminer.com

who f'n cares ^^

crooked rw wars raided ss trust - that trust was paid by workers

your socialist prez and republican senate have no wiggle room

 

[MarathonMike]

Well......if nobody is working & paying into it.....whadya think would happen?

More reason to get people back to work

Yes we also have an inverted pyramid with a shrinking base of workers supporting an ever expanding group of retirees, dependents and fraudsters.

that shrinking base of workers...….do you mean currently with Covid? Or regular times?

Both. Workforce participation has been in a long term downtrend for many years. It looked like it might start turning around and then the virus hit so that seems to be a negative for job growth going forward. For example just looking at the restaurant industry, many are closing their doors and the ones that remain are redesigning for smaller footprints and larger spacing between tables. Obviously that results in fewer employees.

 

[gipper]

The Social Security Board of Trustees has just informed Congress that starting next year, Social Security (SS) payments will exceed payroll tax revenue, and that the SS reserve fund will run out by 2035:

Social Security payouts next year will exceed incoming revenue, according to a new Social Security Board of Trustees audit.

In their annual report to Congress, the trustees announced that in 2021 the cost of the Social Security program will for the first time since 1982 "exceed total annual income” – leading to a depletion of asset reserves that will run out completely by 2035. (

Cost of Social Security will exceed program's income in 2021, says board of trustees

In their annual report to congress the Social Security Board of Trustees projected a bleak and desperate future for the program

justthenews.com

)

Do even a few Democrats wish they had not demagogued and blocked George W. Bush's sound SS reform proposal in 2005?

What if George W. Bush’s Social Security reforms had passed? - Washington Examiner

More than a decade ago, President George W. Bush set out to fix what he called a broken Social Security system. In 2001, intermediate projections had shown the retirement trust fund would be exhausted in 2040. By 2005, finances had improved and the projected exhaustion date was 2043. But today...

www.washingtonexaminer.com

Simple fix. Just eliminate the War Department. That would be a win-win for 99% of Americans.

 

[Siete]

The Social Security Board of Trustees has just informed Congress that starting next year, Social Security (SS) payments will exceed payroll tax revenue, and that the SS reserve fund will run out by 2035:

Social Security payouts next year will exceed incoming revenue, according to a new Social Security Board of Trustees audit.

In their annual report to Congress, the trustees announced that in 2021 the cost of the Social Security program will for the first time since 1982 "exceed total annual income” – leading to a depletion of asset reserves that will run out completely by 2035. (

Cost of Social Security will exceed program's income in 2021, says board of trustees

In their annual report to congress the Social Security Board of Trustees projected a bleak and desperate future for the program

justthenews.com

)

Do even a few Democrats wish they had not demagogued and blocked George W. Bush's sound SS reform proposal in 2005?

What if George W. Bush’s Social Security reforms had passed? - Washington Examiner

More than a decade ago, President George W. Bush set out to fix what he called a broken Social Security system. In 2001, intermediate projections had shown the retirement trust fund would be exhausted in 2040. By 2005, finances had improved and the projected exhaustion date was 2043. But today...

www.washingtonexaminer.com

And, the Ponzi scheme comes crashing down.

.

ponzi schemes cant be fixed - ss can

ergo; 2 answers

ss isnt a ponzi scheme
youre an idiot

 

[Penelope]

The Social Security Board of Trustees has just informed Congress that starting next year, Social Security (SS) payments will exceed payroll tax revenue, and that the SS reserve fund will run out by 2035:

Social Security payouts next year will exceed incoming revenue, according to a new Social Security Board of Trustees audit.

In their annual report to Congress, the trustees announced that in 2021 the cost of the Social Security program will for the first time since 1982 "exceed total annual income” – leading to a depletion of asset reserves that will run out completely by 2035. (

Cost of Social Security will exceed program's income in 2021, says board of trustees

In their annual report to congress the Social Security Board of Trustees projected a bleak and desperate future for the program

justthenews.com

)

Do even a few Democrats wish they had not demagogued and blocked George W. Bush's sound SS reform proposal in 2005?

What if George W. Bush’s Social Security reforms had passed? - Washington Examiner

More than a decade ago, President George W. Bush set out to fix what he called a broken Social Security system. In 2001, intermediate projections had shown the retirement trust fund would be exhausted in 2040. By 2005, finances had improved and the projected exhaustion date was 2043. But today...

www.washingtonexaminer.com

And the republicans want a stop the payroll tax for a year. That will really help!!

 

[martybegan]

Easy fix.

Raise or eliminate the earnings cap.

Do we raise or eliminate the benefits given to those who are no longer capped?

The system was designed to be equal, you pay in, you get out.

 

[martybegan]

Another attempt to blame Dems for a Repub failure.

The 2004 election gave President George W. Bush a second term in office and expanded Republican majorities in both houses of Congress. So soon afterward, he pledged to spend the “political capital” he said he’d earned on a longtime conservative priority — the partial privatization of Social Security.

The effort failed. Despite those sizable GOP majorities and the president’s own barnstorming across the country to sell his proposal, creating private accounts for Social Security became so toxic that it was never brought to a vote in either the House or Senate.

In 2005, Republicans controlled Washington. Their agenda failed. Here's why.

A cautionary tale for Donald Trump — and Democrats.

www.vox.com

This is what the experts really want to see happen to fix Social Security

The clock is ticking when it comes to whether Social Security reform will happen before a reduction in benefits kicks in. Politicians have come up with their own proposals. But here's how the experts, who have spent countless hours studying the problem, would restore or overhaul it if they had...

www.cnbc.com

Nice try, but all politicians at the federal level are at fault here. They have been using the surplus for decades to add to the general fund, and now they have to start paying those IOU's back.