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WASHINGTON (AP) — Social Security is rushing even faster toward insolvency, driven by retiring baby boomers, a weak economy and politicians' reluctance to take painful action to fix the huge retirement and disability program.
The trust funds that support Social Security will run dry in 2033 — three years earlier than previously projected — the government said Monday.
who cares what it shows, you saw how fast they came up with a trillion dollars for bail outs. something as ingrained in the american structure like social security is bigger than to big to fail.
all they need is a vote and guaranteed it will be funded just fine.
The reduction of the payroll tax these past two years (2011 and now 2012) probably hasn't helped. Speaking of "help", politicians of all stripes, just can't "help" making promises they either can't pay for, or haven't taken the time to figure out how to pay for
who cares what it shows, you saw how fast they came up with a trillion dollars for bail outs. something as ingrained in the american structure like social security is bigger than to big to fail.
all they need is a vote and guaranteed it will be funded just fine.
All the trillions came from borrowing and devaluing the currency... clearly not things that continue long term. Many of the problems in Europe have to do with unfunded entitlements and we have no magic answers here. Adjustments will have to be made.
It jumped the shark the moment it became something to cover anyone besides those in poverty. As soon as average middle class people and above began to expect a pay out, it was a goner. To somewhat paraphrase a famous bit from a couple thousand years ago, once people gain the ability to vote themselves entitlements, it is the beginning of the end for that particular experiment in democracy.
who cares what it shows, you saw how fast they came up with a trillion dollars for bail outs. something as ingrained in the american structure like social security is bigger than to big to fail.
All they need is a vote and guaranteed it will be funded just fine.
I don't see where bailout loan is going to work the way the law is written. Besides that is what might be called the greek plan with its results.
Tax receipts can still cover a big chunk of it and i would bet anything that when the time came it would all be funded in a heart beat.
There is always money they will find for something as ingrained in american culture.
Without it everything else is a moot point, there will be no america as we know it with most of america counting on it to live. .
not one politician would have a job with 80 million voting retired baby boomers.
there arent many things i would bet on but funding social security is one of the things i would. we have alot more things to worry about like medicare.
there arent many things i would bet on but funding social security is one of the things i would. we have alot more things to worry about like medicare.
Well without Medicare it would be a societal catastrophe, as millions of elderly (that's us) would be turned away from doctors and out of hospitals. We would be wandering the streets looking for our apts, dying in the gutters. Or we might rise up and form an army of our own, taking over. No, I don't think Medicare will go. It will be all the programs for the very poor that they'll axe, like Medicaid and foodstamps, etc.
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