Social Security Is Staring at Its First Real Shortfall in Decades (wages, solution)
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30 years ago, most Americans according to polls believed SS would not be there for them when they retired.
The scare mongering by the ruling elite who hate it (and who also happen to own all mainstream media) has been going nonstop for 80 years since it was first implemented.
Do you know where your SS "contributions" () are right now?
Looks like the end of social security is near, something has to give. This has been totally missing from the discussion by any of the candidates or congressmen,
And Social Security does not need to be cut, rather it needs to be adjusted like it was adjusted in 1983. "In the late 1970s and early 1980s Social Security ran deficits. Trust fund insolvency loomed in July 1983. With mere months of solvency left, Congress acted to bolster finances on April 20, 1983. SSA still operates under the 1983 funding arrangement, generating surpluses every year since." Exposing the Social Security solvency hype - MarketWatch
And Medicare is also in a similar situation. Medicare’s Hospital Insurance trust fund will be able to pay 100% of the costs of the hospital insurance coverage through 2029. And in 2029 incoming payroll taxes and other revenue will be able to pay 88% of Medicare costs, in 2041 Medicare will be able to pay 81% of the costs, and in 2041 88% of Medicare costs will be covered.
"Claims by some policymakers that the Medicare program is nearing “bankruptcy” are highly misleading. Although Medicare faces financing challenges, the program is not on the verge of bankruptcy or ceasing to operate. Such charges represent misunderstanding (or misrepresentation) of Medicare’s finances."
Do you know where your SS "contributions" () are right now?
SS have been paying out SS benefits for 80 years and it is the most successful and popular program ever devised. Thats why the scare mongering has been going on non-stop ever since it was implemented. The ruling elite cant stand public programs that are popular and which they cant get their hands on.
SS have been paying out SS benefits for 80 years and it is the most successful and popular program ever devised. Thats why the scare mongering has been going on non-stop ever since it was implemented. The ruling elite cant stand public programs that are popular and which they cant get their hands on.
So you have no idea? Hmm I have a bridge that needs a new owner
So you have no idea? Hmm I have a bridge that needs a new owner
But you just want to hand everything over to Wall Street and the billionaire class and give the finger to the working class, the poor, the disabled and sick.
How is that a long term solution? You're basically calling for a class revolution which will be the result if your wishes come true.
Yes it really is a simple math problem, but they seem to be adept at ignoring the obvious. They should have done this under the Bolles-Simpson recommendation 8 years ago but here we are.
Yeah, the American people taught our leadership a valuable lesson when we skewered Bush I for raising taxes after all even though it was a prudent move at the time.
That lesson is that we're mostly petulant mob of children that want our candy before after and during dinner....or we'll replace our parents.
Looks like the end of social security is near, something has to give.
Nope. With the exception of some minor monkeying around with payout ages and new taxes, they will simply borrow/print whatever is needed to pay out the checks....just like the rest of running the govt. This year, we've spent about 3 trillion so far, and the deficit is 738 billion.....meaning we're spending 25-30% more than we take in.....and this has been the case for decades, some years more, some years less. Social Security either is, or will be, a part of that deficit spending.
As long as people are stupid enough to buy Treasury debt at rates below actual inflation (actual, not the govt manipulated figure) giving away purchasing power, or the FED has the ability to make up keyboard money to buy debt when real people won't, this merry-go-round will keep on keeping on. You'll get your check.....but you'll find it buys less and less as time goes on. But you'll get your check.
We should just stop SS and use all the money to pay for housing, food, and health benefits for illegals.
I wonder how the balance sheet would look if we used that $100 billion annual expenditure on illegals and used it to prop up social security?
Libs need to understand that there are finite resources in the world. When one sinks a ton of money into one area, another area is bound to suffer.
If asked directly about which they would prefer, their SS or funding illegals, 100% of libs (those that will need SS) will suddenly change their minds and agree with Trump. When it doesn't cost them anything, they will continue to want open borders and funding of illegals.
Explain in more detail how this $100 billion number would be transferred. How would you make these work
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