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Old 03-25-2008, 02:29 PM
 
1,253 posts, read 4,170,218 times
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This truly scares me.

The trustees, issuing a once-a-year analysis of the government's two biggest benefit programs, said the resources in the Social Security trust fund will be depleted by 2041. The reserves in the Medicare trust fund that pays hospital benefits were projected to be wiped out by 2019....

Government benefit programs in trouble - Yahoo! News (broken link)
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Old 03-25-2008, 02:33 PM
 
Location: Up above the world so high!
45,269 posts, read 88,516,378 times
Reputation: 39857
Quote:
Originally Posted by FrankTheTank2 View Post
This truly scares me.

The trustees, issuing a once-a-year analysis of the government's two biggest benefit programs, said the resources in the Social Security trust fund will be depleted by 2041. The reserves in the Medicare trust fund that pays hospital benefits were projected to be wiped out by 2019....

Government benefit programs in trouble - Yahoo! News (broken link)
But Frank, this is not new news - we've known about this for years. What can you expect when the system is being used the way it is?

You do realize that when social security was established the average Americal only lived a few years beyond retirement and so paying his benefits was not a problem? These days the average American uses up what they actually contributed to the system over their lifetime in about 3 years, BUT THEY STILL GET TO KEEP GETTING MONEY, sometimes for 20 years or more!

People have got to stop thinking of social security as their ONLY retirement plan!
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Old 03-25-2008, 02:46 PM
Status: "North of Palm Trees, South of High Taxes" (set 5 days ago)
 
Location: Noth Caccalacca
5,595 posts, read 6,690,604 times
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Quote:
Originally Posted by lovesMountains View Post
But Frank, this is not new news - we've known about this for years. What can you expect when the system is being used the way it is?

You do realize that when social security was established the average Americal only lived a few years beyond retirement and so paying his benefits was not a problem? These days the average American uses up what they actually contributed to the system over their lifetime in about 3 years, BUT THEY STILL GET TO KEEP GETTING MONEY, sometimes for 20 years or more!

People have got to stop thinking of social security as their ONLY retirement plan!
loves - Sadly, for a large percentage of the population, Social Security is their only retirement plan. They are the kind of people to whom working at Walmart is their "dream job". Think back to your grandparents and other older folks whose only source of income was SS!
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Old 03-25-2008, 02:50 PM
 
Location: Up above the world so high!
45,269 posts, read 88,516,378 times
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Quote:
Originally Posted by TheEmissary View Post
loves - Sadly, for a large percentage of the population, Social Security is their only retirement plan. They are the kind of people to whom working at Walmart is their "dream job". Think back to your grandparents and other older folks whose only source of income was SS!
I agree with you Em, and it is sad - but in this day and age there is no excuse for people looking at social security as such an entitlement program - there has been info around for YEARS informing people that they'd better do more to look out for themselves.
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Old 03-25-2008, 03:04 PM
 
Location: Union County
5,787 posts, read 8,430,740 times
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Yeah, this has been known and even discussed during the recent primary debates and such... It sucks for sure, but not worthy for use in my doom and gloom campaign.

Maybe I can fit it in somewhere.... hmmmmm.
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Old 03-25-2008, 03:07 PM
Status: "North of Palm Trees, South of High Taxes" (set 5 days ago)
 
Location: Noth Caccalacca
5,595 posts, read 6,690,604 times
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Quote:
Originally Posted by lovesMountains View Post
I agree with you Em, and it is sad - but in this day and age there is no excuse for people looking at social security as such an entitlement program - there has been info around for YEARS informing people that they'd better do more to look out for themselves.
loves - The definition of SS was that it was a supplimental progam, not your main source of survival! Unfortunately, with pensions being eliminated in midstream for many Americans and even 401k plans (Bear- Stearns being a prime example) getting wiped out in bad times. I guess the new replacement will be the Just Die! program! Soylent Green anyone?
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Old 03-25-2008, 03:08 PM
 
Location: WA
5,394 posts, read 21,388,001 times
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Quote:
Originally Posted by lovesMountains View Post
I agree with you Em, and it is sad - but in this day and age there is no excuse for people looking at social security as such an entitlement program - there has been info around for YEARS informing people that they'd better do more to look out for themselves.
Wait a minute!! The workforce and employers are forced to pay SS with the promise that it is a retirement plan. As long as we are forced to pay under this premise we are entitled to the benefits.
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Old 03-25-2008, 04:28 PM
 
Location: Home is where the heart is
15,400 posts, read 25,819,531 times
Reputation: 18992
Quote:
Originally Posted by cdelena View Post
Wait a minute!! The workforce and employers are forced to pay SS with the promise that it is a retirement plan. As long as we are forced to pay under this premise we are entitled to the benefits.
You think SS is a retirement plan? Did someone give you that promise in writing? Because I don't recall any of my employers or political leaders making such a promise to me. It's a supplemental safety net, that's all.

That said, let's remember it's an election year. It seems to happen like clockwork, every four years. Suddenly there's a big scary statement about money running out. Just watch and see--my bet is we'll be hearing different news in November. Miraculously they will have found a different source of money or they will report that statistics were misunderstood or they will just report different findings with no explanation at all.

Note that the big scare is about the money for Medicare. IMO this tactic is a ploy to get senior citizen democrats who are annoyed by the Clinton/Obama bickering to switch over to the republican side.
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Old 03-25-2008, 04:31 PM
 
755 posts, read 2,244,988 times
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Let's not forget all of those people treating SSI like welfare because they are "disabled."
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Old 03-25-2008, 04:56 PM
 
Location: home...finally, home .
8,235 posts, read 18,509,075 times
Reputation: 17765
These days the average American uses up what they actually contributed to the system over their lifetime in about 3 years, BUT THEY STILL GET TO KEEP GETTING MONEY, sometimes for 20 years or more!

Are you sure that is correct? I have been paying the maximum for years & I will certainly not get my money back in only three years (or even twenty, I don't think).
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