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Looks like the end of social security is near, something has to give. This has been totally missing from the discussion by any of the candidates or congressmen,
Quote:
A slow-moving crisis is approaching for Social Security, threatening to undermine a central pillar in the retirement of tens of millions of Americans.
Next year, for the first time since 1982, the program must start drawing down its assets in order to pay retirees all of the benefits they have been promised, according to the latest government projections.
Unless a political solution is reached, Social Security’s so-called trust funds are expected to be depleted within about 15 years. Then, something that has been unimaginable for decades would be required under current law: Benefit checks for retirees would be cut by about 20 percent across the board
Looks like the end of social security is near, something has to give. This has been totally missing from the discussion by any of the candidates or congressmen,
We should just stop SS and use all the money to pay for housing, food, and health benefits for illegals.
I wonder how the balance sheet would look if we used that $100 billion annual expenditure on illegals and used it to prop up social security?
Libs need to understand that there are finite resources in the world. When one sinks a ton of money into one area, another area is bound to suffer.
If asked directly about which they would prefer, their SS or funding illegals, 100% of libs (those that will need SS) will suddenly change their minds and agree with Trump. When it doesn't cost them anything, they will continue to want open borders and funding of illegals.
Looks like the end of social security is near, something has to give. This has been totally missing from the discussion by any of the candidates or congressmen,
Well to fix something like that you need a combination of:
1. Time. We're out of that.
2. Higher payroll tax and similar adjustments. Nobody is going to talk higher taxes in an election, except maybe in the primaries.
3. Lower payouts to current recipients. This is likely both unconstitutional as well as political suicide.
All we're going to get now is a torrent of verbal garbage about how the OTHER party is going to cut grandmas social security and leave her to die in the streets.
My guess is that it's ignored and the next congress\senate just blows up the debt instead of increasing taxes.
Like any goid Ponzi scheme the solution is to either get fresh investors to dupe or get the existing ones to throw more money in. Just ask any Bernie MadeOff if you dont believe.
Well to fix something like that you need a combination of:
1. Time. We're out of that.
2. Higher payroll tax and similar adjustments. Nobody is going to talk higher taxes in an election, except maybe in the primaries.
3. Lower payouts to current recipients. This is likely both unconstitutional as well as political suicide.
All we're going to get now is a torrent of verbal garbage about how the OTHER party is going to cut grandmas social security and leave her to die in the streets.
My guess is that it's ignored and the next congress\senate just blows up the debt instead of increasing taxes.
Yes it really is a simple math problem, but they seem to be adept at ignoring the obvious. They should have done this under the Bolles-Simpson recommendation 8 years ago but here we are.
30 years ago, most Americans according to polls believed SS would not be there for them when they retired.
The scare mongering by the ruling elite who hate it (and who also happen to own all mainstream media) has been going nonstop for 80 years since it was first implemented.
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