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"Raiding" SS to pay what??? Funds have been diverted OUT of SS for an unrelated program - or what?? What is he talking about?
I only ask b/c the tweet is inflammatory in its accusations and provides zero information. If he's too lazy to provide specifics, for now I categorize it as hyperbole.
They diverted funds from the retirement program to the disability program. Disability, the DI part of OASDI, has no excess money in its trust fund and operates in the red. For all intents, Social Security has been raided for many years to fund the bloated military complex and periodic fiscal stimulii.
They diverted funds from the retirement program to the disability program. Disability, the DI part of OASDI, has no excess money in its trust fund and operates in the red. For all intents, Social Security has been raided for many years to fund the bloated military complex and periodic fiscal stimulii.
EVERYONE wants to "CLOSE LOOPHOLES" and "ELIMINATE WASTE". However, each one of the loopholes and each wasteful program has people who support it and for which it is a sacred cow that cannot be touched.
Eventually, the government will print money to cover all social security obligations. While that will reduce the value of the US dollar (much like the Argentine currency), at least all the members of Congress will be able to say that they "preserved" social security and never cut it.
My grandfather opposed social security in 1932 and many of his criticisms are coming true in my lifetime.
So are you saying it has worked well for over 80 years and if it hits a bump in 2032 it will have worked well for a century? Some might say that is impressive! So with much of life it is time to review and evolve on, as the world is very different from oh say almost a century ago!
So are you saying it has worked well for over 80 years and if it hits a bump in 2032 it will have worked well for a century? Some might say that is impressive! So with much of life it is time to review and evolve on, as the world is very different from oh say almost a century ago!
But in this country we like to pretend that when they made laws a long time it was with infallible judgment unaffected by the changing conditions/technology/economics in the intervening years.
A bigger portion of FICA will be shifted from the SS Trust Fund to the SSDI Fund for 3 years starting in January.
It's a bandaid, not a fix.
This was done to give Congress time to come up with a solution is what I read.
In reality..they had plenty of time. This is just kicking the can down the road.
And shaving time off of when the SS Trust Fund will go broke.
Let me clarify the terminology. The SS Trust Fund includes BOTH the OASI fund and the DI fund.
I don't know about you, but I paid premiums through my FICA taxes for both disability and survivor's insurance. I also paid a premium for a small annuity or pension.
Perhaps the disability benefit recipients who are single and without dependent children should be demanding the abolition of Survivor's benefits. I bet that would rescue the SS Trust Fund, so why not?! Let me count the ways.
"Raiding" SS to pay what??? Funds have been diverted OUT of SS for an unrelated program - or what?? What is he talking about?
I only ask b/c the tweet is inflammatory in its accusations and provides zero information. If he's too lazy to provide specifics, for now I categorize it as hyperbole.
According to the sources I read (links to some of them below), this Boehner-Obama budget included a transfer of around $150 billion from the SS retirement fund into the SSDI fund. This is no doubt what Senator Lee was referring to.
But in this country we like to pretend that when they made laws a long time it was with infallible judgment unaffected by the changing conditions/technology/economics in the intervening years.
Let me clarify the terminology. The SS Trust Fund includes BOTH the OASI fund and the DI fund.
I don't know about you, but I paid premiums through my FICA taxes for both disability and survivor's insurance. I also paid a premium for a small annuity or pension.
Perhaps the disability benefit recipients who are single and without dependent children should be demanding the abolition of Survivor's benefits. I bet that would rescue the SS Trust Fund, so why not?! Let me count the ways.
SSDI is a separate Trust Fund. It was created under Eisenhower in 1957.
But in this country we like to pretend that when they made laws a long time it was with infallible judgment unaffected by the changing conditions/technology/economics in the intervening years.
It's not the fact they made laws. It's the amendments, changes, reallocations and expansions to those laws that are now biting us in the rear end.
FICA has not been raised since 1990.
And that is part of the problem.
Let me clarify the terminology. The SS Trust Fund includes BOTH the OASI fund and the DI fund.
I don't know about you, but I paid premiums through my FICA taxes for both disability and survivor's insurance. I also paid a premium for a small annuity or pension.
Perhaps the disability benefit recipients who are single and without dependent children should be demanding the abolition of Survivor's benefits. I bet that would rescue the SS Trust Fund, so why not?! Let me count the ways.
Badaaaaaaaaa Bing! This is scary I am starting to agree with you all the time. Is my Liberal side starting go come out or your Conservative side or is this just life in the middle.
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