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NO one has ever missed a SS check. It is solvent until 2037...and I regularly cash my comfy SS check with no problem....and will quit receiving it(die) long before 2037. The Repugs are , AGAIN, using scare tactics to get their hands on SS money to invest it with their cohorts on Wall Street...to pilfer the money average Anmericas invest in their future so that the wealthy can get wealthier.... Try looking up facts and the Repugs won't be so scary....
I'll quote the SS Trust Fund facts right here to make it crystal-clear, according to a Democratic President:
From President Clinton's budget chief Jacob Lew: "These [trust fund] balances are available to finance future benefit payments and other trust fund expenditures—but only in a bookkeeping sense. These funds are not set up to be pension funds, like the funds of private pension plans. They do not consist of real economic assets that can be drawn down in the future to fund benefits. Instead, they are claims on the Treasury that, when redeemed, will have to be financed by raising taxes, borrowing from the public, or reducing benefits or other expenditures." Obama's Budget Director Explains Why You Shouldn't Trust the Social Security Trust Fund - Hit & Run : Reason Magazine
Sorry, but the NON-NEGOTIABLE securities in the SS Trust Fund cannot be sold or redeemed, so they have no cash value. People are confused by the fact that we were supposed to have had an actual $2.5 trillion SS Trust Fund, as in a "Lock Box"--but that was just the promises made by politicians to get us to swallow the massive tax increase and increase in retirement age. True to their corrupt, criminal souls, the politicians in Washington stole every penny that the excess SS taxes collected, and spent it on other things, like multiple foreign wars, or to make the federal annual deficits seem like less than they actually were.
Nobody has missed a social security check because, until last year (2010), social security taxes exceeded outgoes. And this year we'll just borrow the difference from our own Fed (paying off one credit card with another), and rack up even more interest charges for next year.
And with a $14 trillion dollar federal debt, increasing at over $1.5 trillion a year, there's a limit to how much more the government can borrow. Already interest is the largest portion of the federal budget after Defense, SS and Medicare, and basically this interest is a massive extra tax we pay for the irresponsibility and criminal corruption of our elected leaders.
you have no right to say that you dont have a clue, not a clue
I absolutely have the right (2nd Amendment) and I have said it. I'll put a finer point on it:
The Japanese nuclear plant workers who are willing to sacrifice themselves for the good of others make our pampered union government workers (who want others to sacrifice for them) look very petty and self indulgent.
BTW, those brave men (who are going to die) may be saving our own self-indulgent butts from more radiation exposure.
I absolutely have the right (2nd Amendment) and I have said it. I'll put a finer point on it:
The Japanese nuclear plant workers who are willing to sacrifice themselves for the good of others make our pampered union government workers (who want others to sacrifice for them) look very petty and self indulgent.
I guess your right to bear arms allows your right to free speech ???
There is no money. Paying into social security was never a guarantee that you would receive a check. If there was an income guarantee there is no way that Bill Clinton would have allocated that money to other things.
In other news, the sky is blue. I'm 33 and have long known I won't see a nickel of the money I'm pumping into Social Security.
The Baby Boomers have ruined everything they ever touch. They are without question the worst generation dating back to the Dark Ages. They have the antithesis of the Midas Touch. Those of us in X/Y have long known that we're going to have to basically pay for their ineptitude start to finish.
They are without question the worst generation dating back to the Dark Ages.
My, such flattery. Thank goodness I'm a war baby (1944) and not one of those evil boomers...have you let your parents know how you feel about their generation?
Ironic .. those who paid in the most (boomers), will end up not getting anything ..
As for the Xer's, and Yer's? .. heh .. they might actually have to innovate and/or learn critical thinking on the fly in order to survive ..
You've gotta be kidding me right? The up and coming gens are pretty well screwed from the get go. They're most likely the first generations of americans who are less likely to be better off then there parents. With the current SS structure they are probably going to be the first that actually pay without any SS benefits.
Anyone retiring hopes that, with you're stock benefits, social security, matching 401 (k) benefits, pension plans, etc...you have the funds to be stable.
You might want to include boomers as well. They are just starting to hit 65 this year.
No way is there enough SS for the largest generation to start retiring.
Boomers like me, my wife starts to receive her first SS check in a few months, will receive checks heck or high water even if the government has to print money. We will receive those checks first and foremost before anyone else does. We will receive those checks even if we have to encounter 25% inflation and a ruined Zimbabwe style government.
We will receive those checks even if we have to encounter 25% inflation and a ruined Zimbabwe style government.
Quite likely in fact. They can afford to give us our $800 SS benefit when a gallon of gas costs $30.
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