https://www.ssa.gov/OACT/TR/2016/709letter_DI_Senate_2016.pdf
So after responding to the mindless crap here, I happen to notice this letter to the Senate. The trustees are required by law, to inform congress, when reserves are going to fall below 20% of expenses. That is happening right now for Disability Insurance, and the rest later.
View attachment 113340
Only a mindless left winger can see a graph showing 0% as a future outcome, and conclude.... "it's not going broke!".
Stop with the unending ignorance. The facts win, over your opinion.



Are you sincerely ignorant or conscientiously stupid? That is the question. Your graph validates everything I quoted the SSA positing on their website. Do you think hey would post a graph that contradicts their own report???? DUHHH! The zero represents the year the "reserves are depleted" but the system won't be "broke" because millions of workers will still be paying into it. And when all the baby boomers die out in the next 20 years or so, the reserves will start to rise again.
IN the interim, though, Congress will have to act by either raising the FICA taxes or reducing individual benefits in conjunction with raising the minimum retirement age.
Theer is another more diabolical option. The government might find some way to liquidate everyone over 60...
Only in mindless leftard world does "Trust fund with ZERO reserves" mean it's not broke.
You are too stupid to continue debating with.
If you are too stupid to understand that I am simply agreeing with the SSA's website, indeed you are too dense to continue debating. Stop taking things personally. If the SSA says it is not going broke and explained clearly why not, that ought to be enough for anyone to understand. that "going broke" phrase has led younger Americans to believe there won't be anything left when they reach retirement age. That is false.
As an aside, the process is far more complex than you might realize. As Baby boomers reach retirement age many are staying on the job and getting social security at the same time. But as long as they work they still have to pay income taxes ...HOWever, the LFPR reflects, among other things, that millions of BBs are retiring. And withTrump placing a freeze on Federal jobs, he is contributing to the projected shortfall of the Trust Funds by reducing the federal workforce where higher pay translates into more taxable income and more FICA tax volume. But it doesn't stop there. The private sector workforce growth is going to be curtailed too if Trump's immigration plan works-out. I don't know if anyone has stopped to think about how much income tax ad FICA revenue will be lost when the undocumented workers go.
No, your explanation is dumb. By your logic nearly no one in the entire country which has filed bankruptcy is broke.
In fact, I have co-worker right now, that filed bankruptcy. But he still has a job. So he still has income. So by your idiotic, and brainlessly stupid perspective..... he's not broke! He's never gone broke! Yes he has zero money in the bank, and all his assets are sold off now.... but no no, because he's got an income still... he's not broke!
No... he's broke. Having money coming in still, doesn't mean he's not broke. He's got no money in the bank or anywhere. Yes he still has just enough to keep fuel in the car so he can get to work, but he's lost everything. He's broke.
You.... are an idiot. You have proven to everyone here, you are disqualified to talk about this subject.
Thanks for playing. Have nice day.
How many times do I have to tell your dumbass that it is not MY LOGIC that you are wrestling with. BTW, you should know that bankruptcy is not the proper term for government shortfalls. You analogy is stupid
For other interested parties with common sense, not YOU Andylusion, be aware that when the reserves of the OAIS is depleted by 2034( I don't think Congress will allow that to happen) the income for those Trust Funds will be enough for 3/4 of obligations through year 2090. That is 56 years. Since inception the Trust Funds have collected bout 19 Trillion dollars and have paid out about 16 Trillion. That three trillion balance will sustain full benefit payouts until around 2034-37.
Since the inception of the Social Security program in 1935, scheduled benefits have always been paid on a timely basis through a series of modifications in the law that will continue. Social Security provides a basic level of monthly income to workers and their families after the workers have reached old age, become disabled, or died. The program now provides benefits to over 50 million people and is financed with the payroll taxes from over 150 million workers and their employers.
Further modifications of the program are a certainty as the Congress continues to evolve and shape this program, reflecting the desires of each new generation.
This article describes the financial status of the Social Security program, including an analysis of the concepts of solvency and sustainability and the relationship of Social Security to the overall federal unified budget. The future is uncertain in many respects, and based on new information, projections of the financial status of the Social Security program vary somewhat over time.
What is virtually certain is that the benefits that almost all Americans become entitled to and most depend on will be continued into the future with modifications deemed appropriate by their elected representatives in the Congress.
Here is the ink that some, like Andy, will read into and pick out portions alluding to insolvency. But the article gives an in depth look at how approaching insolvency issues were handled in the past and how they will likely be handled now and in the future to keep those checks coming. The Funds are not going to go broke, although to some, it appears that way right now, But that is nothing new, we have been there before and I am confident that Congress will rise to the occasion once again to keep the Funds solvent enough to keep paying full benefits well int the future. Again, a the risk of it being misread, and turned against me I submit the link with no hesitation or mental evasion.
Glean the knowledge herein and petition your congressperson to act to take measures to bolster the Trust RESERVES with all due haste as congress has done twice before.
The Future Financial Status of the Social Security Program