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social security is not an issue, they can find a trillion dollars in a heart beat as we all saw... medicare is the real problem..that makes the social security fund look puny in size.
Find or manufacture/print? A person can find lots of money if they pull out a credit card and use it. Doesn't mean they have it if they use it to much.
big difference is papa treasury never has to pay it back,,,, they just keep selling more bonds to defer it...talk is we may have 50 year treasuries very soon. our national debt is as close to a free lunch as our govt can get.... the debt just gets put off forever or until no one buys our bonds anymore
My bet is that you do see a change in SS, for current recipients.
I don't believe benefits will be reduced, but I would think that they may make more of it included as taxable income, and reduce the cost of living formula.
time will tell.... dont worry about the cola formula that is always being massaged and revised for the lowest possible outcome. dont forget as time goes on just the rise in ss from cola will push more into taxable income if they dont change the threshhold of around 32,000 as the dividing line , thats a given.
time will tell.... dont worry about the cola formula that is always being massaged and revised for the lowest possible outcome. dont forget as time goes on just the rise in ss from cola will push more into taxable income if they dont change the threshhold of around 32,000 as the dividing line , thats a given.
Understood, but what you present in this posting are "passive consequences".
Legally, the Congress is required to specifically address the SS shortfall, and will need to execute specific legislation to do so.
at a time when very good workers are making very minimal raises (if at all) or forced to take furloughs, i think that it is only fair that social security recipients share in the pain.
Then what do you say to retirees trying to live on very limited incomes who are getting hit with 22% increases in medical insurance premiums and 45% increases in electrical charges (per kwh increases in SE Michigan in 09 compared with 08)? How does a 0% increase in SS benefits help them?
Understood, but what you present in this posting are "passive consequences".
Legally, the Congress is required to specifically address the SS shortfall, and will need to execute specific legislation to do so.
So is the president and bush put forwaqdr a plan. Congress rejected it and even their own commission decided to do nothing. The dmeocarts said evrything is fine and will worry about it around 2040 or when the paln wsatrts runnign out.Until tehn they are not touching it with a ten foot pole.Just look at what has happened when Oboma said they will saving 1/3rd the cost of his healthcare by cutting medicare spending.
A bill that will either raise the COLA anyway... or else give a one time payment
is supposed to be introduced this month.
" Senator Bernie Sanders hopes to increase financial support for seniors
by introducing emergency legislation when Congress reconvenes. "
*
" Sanders says how his Senior Support Bill will work is still being figured out,
but he expects broad support from other Senators, including Patrick Leahy. "
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