SS surplus being used to pay Fed general expenses..$41 billion deficit projected (unemployment, Congress)

[HappyTexan]

They can't keep their hands off any surplus funds..not even SS.

Since 2008 SS has run a deficit 60% of the time for each month.
The last time SS ran a deficit prior to 2008 was once..November 1997.

As of August the deficit was $8 billion.

The reasons are simple...
More people signing up due to the bad economy.
Less people paying in due to high unemployment.

The piper is calling..the fat lady is singing.
The Fed isn't talking and neither is Congress nor the President.

Do they all think if we don't worry about it then it will just magically fix itself ?

The next bailout better be to replace OUR money that they stole.
That's right..SS is taken out of our paychecks..it IS our money.

In 15 of Last 25 Months, Treasury Needed to Borrow Money to Pay Social Security Benefits | CNSnews.com

[lifelongMOgal]

Government slush fund.

[HappyTexan]

Originally Posted by lifelongMOgal

Government slush fund.

That's exactly what it is. When there's a surplus they immediately transfer it out and put an IOU in it's place.

Things are not going to get better. There will be an increase in enrollments due to boomers retiring without an equivalent increase in revenue from labor.

[evilnewbie]

Don't you know? Liberal money grow on trees!!

[lifelongMOgal]

Originally Posted by evilnewbie

Don't you know? Liberal money grow on trees!!

Yeah, and their checks grow on rubber trees.

[AuDiBelle]

What ever happened to that "lock box"? I guess the dems picked the lock?

[HappyTexan]

Originally Posted by whatyousay

What ever happened to that "lock box"? I guess the dems picked the lock?

Pelosi just looked at it and it melted.

[Swingblade]

Originally Posted by HappyTexan

They can't keep their hands off any surplus funds..not even SS.

Since 2008 SS has run a deficit 60% of the time for each month.
The last time SS ran a deficit prior to 2008 was once..November 1997.

As of August the deficit was $8 billion.

The reasons are simple...
More people signing up due to the bad economy.
Less people paying in due to high unemployment.

The piper is calling..the fat lady is singing.
The Fed isn't talking and neither is Congress nor the President.

Do they all think if we don't worry about it then it will just magically fix itself ?

The next bailout better be to replace OUR money that they stole.
That's right..SS is taken out of our paychecks..it IS our money.

In 15 of Last 25 Months, Treasury Needed to Borrow Money to Pay Social Security Benefits | CNSnews.com

Now Happy Texan you know that members of this forum will come on here and say that SS is solvent and hold it up as a successful socialist program. And here you are trying to rain on their parade. Myself I am early 50's and do not expect to see a dime or I will work until I am 90 to get it.
The insane thing is that our leaders from both parties have raided and stole our money for many years. And the partisans are chomping at the bit to go vote for these same thieves. Sometimes Happy I think the American people deserve everything they have coming their way and it is hard to feel sorry for them. You would have to admit it is self inflicted, we have allowed them to rob the fund for over 30 years and put them right back in office.

[Avengerfire]

Originally Posted by reid_g

...Myself I am early 50's and do not expect to see a dime or I will work until I am 90 to get it...

At least you will get it. Someone in their 40's and below ain't gonna get squat.

[chielgirl]

They've been using the "excess" social security to pay general expenses for decades.
This didn't start on 20 Jan 2009.
And if it hadn't been raided, it would be solvent.