The Social Security Crisis
- Thread starter charrison
- Start date
Bullsh!t. The problem lies with the other $6T in federal debt, and the interest on that growing monstrosity, brought to you by GWB and Cronies, Inc...
If SS liabilities were the only federal debt, there would be no real problem. The whole thing is contrived, a classic misdirection play.
If SS liabilities were the only federal debt, there would be no real problem. The whole thing is contrived, a classic misdirection play.
Sure it was, Charrison, you're not wrong there. GWB and Cronies, Inc. includes the Reagan and Bush1 Admins, who more than quadrupled the debt...
GWB is a figurehead for the Cheney/ Rumsfeld/ Norquist/ you-know-the-rest faction of the Republican Party...
The only solution to our Fiscal issues involve fiscal restraint, bigtime, and that wouldn't include wars of adventure, military spending greater than the rest of the world combined, or the lowest federal taxes of developed nations, either... not to mention corporate offshoring subsidies, special interest tax breaks, and a deliberately and deceptively strong dollar inviting collapse...
Anybody having a lick of sense can see that the only possible answer to SS solvency is solvency of the US Treasury, something currently being deliberately torpedoed by the folks you voted for...
GWB is a figurehead for the Cheney/ Rumsfeld/ Norquist/ you-know-the-rest faction of the Republican Party...
The only solution to our Fiscal issues involve fiscal restraint, bigtime, and that wouldn't include wars of adventure, military spending greater than the rest of the world combined, or the lowest federal taxes of developed nations, either... not to mention corporate offshoring subsidies, special interest tax breaks, and a deliberately and deceptively strong dollar inviting collapse...
Anybody having a lick of sense can see that the only possible answer to SS solvency is solvency of the US Treasury, something currently being deliberately torpedoed by the folks you voted for...
So you going to completely ignore the real problem of baby boomers and the descreased ratio of workers to retirees?
Lets also remember congress has been spending the surpluses for 20 years now. They even did it during clintons term! But those are minor details i dont expect you to pick up on.
feralkid
Lifer
- Jan 28, 2002
- 17,044
- 5,109
- 136
He's right...it is BS.
According to the Congressional Budget Office the fund won't run out untill 2052.
Even then, it will cover 81% of benefits.
To cover this shortfall (47 years from now) would cost .54% of GDP, which is equivalent to the amount of the Bush tax cuts which goes to people earning $500,000 per year.
This is an invented crisis, brought to you by those who stand to profit, and have no qualms about screwing Mr. and Mrs. John Q Public
umbrella39
Lifer
- Jun 11, 2004
- 13,816
- 1,126
- 126
umbrella39
Lifer
- Jun 11, 2004
- 13,816
- 1,126
- 126
Those are the optimistic reports. It not wise to plan your retirement base on optimistic view. Other reports have funds running low in 15-20 years. I am planning for worst case that it wont be around by the time retire. decades of putting in 13.% of my income and nothing in return. That is a real possibility.
feralkid
Lifer
- Jan 28, 2002
- 17,044
- 5,109
- 136
Optimistic reports?
The Federal Budget Office.
I trust The Federal Budget Office more than some alarmist editorialist.
People like that have been claiming the sky is falling regarding S.S. for decades.
Edit... The Bush tax cut analogy is from Krugman, but the figures are ALL from the Federal Budget Office.
Are you interested in facts, or discrediting those who state them?
Read the damn the article i posted. These numbers are based off the CBO.
The sky keeps falling on SS. Those taxes keep going up(13.5% now) and the boomers have not even retired yet.
and the FLL Yo Yo's complained of me saying the Sky is falling. :roll:
Totally predicted.
After the Election now SS is a crisis and also Bush conveniently says he has lowered the Jobs forecast that he said before the Election of 3 Million new jobs to a paltry 750,000.
.54% of which gdp, todays or the estimated gdp in 2052?
btw if it goes broke in 2052 what are they expecting the tax rate to be when it goes broke? 100%?
And then it will only cover 81% of the population?
So what do you suggest, we deal with this in 2051?
I'm 21 now, in 47 years, ill be ready to retire. That, and im tired of paying into a bottomless pit, i'm angry that I will never see the money I put into the SS pot, i'm angry at the fact that the government thinks it knows how best [rather than I] to plan and save for my retirement.
You guys are setting yourselves up for dependancy on the government, which as we can all attest to isn't very reliable nor trustworthy. I want control over all financial aspects of my future, and yes, that includes TOTAL control over my retirement.
More of the usual flippancy from Genx87-
"So what do you suggest, we deal with this in 2051?"
No, I suggest we deal with it now, before this whole cut taxes and borrow more money charade comes crashing down on us. As I've pointed out many times, and the righties desperately try to ignore, SS solvency is only a problem within the context of US Treasury solvency.
This whole "crisis" is utterly contrived, and an attempt to divert attention from the fact that the Bushistas are attempting to borrow us into an inescapable financial hole...
Privatizing SS is just an attempt to escape the political consequences of this scam... John Snow and the other Bush Economists know full well that their policies will shortly lead to extreme currency devaluation and inflation, so they want to be able to blame it all on market forces, rather than their own ideological agenda...
"So what do you suggest, we deal with this in 2051?"
No, I suggest we deal with it now, before this whole cut taxes and borrow more money charade comes crashing down on us. As I've pointed out many times, and the righties desperately try to ignore, SS solvency is only a problem within the context of US Treasury solvency.
This whole "crisis" is utterly contrived, and an attempt to divert attention from the fact that the Bushistas are attempting to borrow us into an inescapable financial hole...
Privatizing SS is just an attempt to escape the political consequences of this scam... John Snow and the other Bush Economists know full well that their policies will shortly lead to extreme currency devaluation and inflation, so they want to be able to blame it all on market forces, rather than their own ideological agenda...
East Jhhnn, you're going to give yourself a Coronary.
This is what the Sheeple want so let em eat cake.
Then the righties won't get the benefit of raping and pillaging the funds NOW before they bankrupt everything else.
I'm retired. I watched every paycheck over the years and I saw the ever increasing amount taken out each week for Social Security. Now I get a check every month in return for working, paying my share, and keeping my mouth shut, which is exactly what this cry baby generation should do today.
Bush manufactured the SS crisis so he can get his hands on the over $2 trillion SS kitty. He and his ilk have hated SS since the day it began and now they think they have a chance to raid the SS kitty just as they raided the treasury. When thieves plan a robbery they go where the money is. That's just what this thieving Bush administration did with their budget busting tax cuts, and it's what they are trying to do with the SS kitty.
If, as someone mentioned, we knew the baby boomers were going to be a problem for SS, then why did Bush push through his irresponsible tax cuts when much of the money he handed his friends from the treasury was owed to SS through the general fund? They've been balancing budgets for years off of SS taxes but when the time came to decide what to do with the surplus Bush decided to empty the treasury instead of planning for the future.
Like I said, the SS "crisis" is Bush manufactured. The system is solvent until 2052 and most baby boomers will be long gone before then. They just want to get their hands on that $2 trillion SS surplus.
And what would you people do if after dumping money into the market instead of SS you're retirement age arrives as the market tanks like it did in 2001? I guaranty you the Bushies will tell you then that you should have been aware of the inherent risks...as they stole the next kitty...the privatized portion of your SS funds.
You're being set up. Wake up.
Bush manufactured the SS crisis so he can get his hands on the over $2 trillion SS kitty. He and his ilk have hated SS since the day it began and now they think they have a chance to raid the SS kitty just as they raided the treasury. When thieves plan a robbery they go where the money is. That's just what this thieving Bush administration did with their budget busting tax cuts, and it's what they are trying to do with the SS kitty.
If, as someone mentioned, we knew the baby boomers were going to be a problem for SS, then why did Bush push through his irresponsible tax cuts when much of the money he handed his friends from the treasury was owed to SS through the general fund? They've been balancing budgets for years off of SS taxes but when the time came to decide what to do with the surplus Bush decided to empty the treasury instead of planning for the future.
Like I said, the SS "crisis" is Bush manufactured. The system is solvent until 2052 and most baby boomers will be long gone before then. They just want to get their hands on that $2 trillion SS surplus.
And what would you people do if after dumping money into the market instead of SS you're retirement age arrives as the market tanks like it did in 2001? I guaranty you the Bushies will tell you then that you should have been aware of the inherent risks...as they stole the next kitty...the privatized portion of your SS funds.
You're being set up. Wake up.
TRENDING THREADS
-
Discussion Zen 5 Speculation (EPYC Turin and Strix Point/Granite Ridge - Ryzen 9000)- Started by DisEnchantment
- Replies: 25K
-
Discussion Intel Meteor, Arrow, Lunar & Panther Lakes + WCL Discussion Threads
- Started by Tigerick
- Replies: 24K
-
Discussion Intel current and future Lakes & Rapids thread- Started by TheF34RChannel
- Replies: 24K
-
-
Facebook
Twitter