Social Security, Medicare 'train-wrecks:'Warnings

[AURaptor 1,113]

( I forget which board it was, and certainly which thread, but my spidey sense is telling me it was someone on this board .... runinred, I'm looking your way )

Social Security, Medicare 'train-wrecks:' Warnings

by Mark Silva

Train wrecks ahead:

The Social Security trust fund will run out of assets in 2041, the program's trustees said today, repeating an earlier projection. And spending on Medicare will reach a legal limit much sooner -- by 2014 -- requiring the next president to propose changes to avert the first train wreck.

"As the baby boom generation moves into retirement, these programs face progressively larger financial challenges," Treasury Secretary Henry Paulson, one of the trustees, said at a press conference today. "The Medicare program poses a far greater financial challenge than Social Security."

Social Security will also start paying out more in benefits than is collected in payroll taxes by 2017, according to the report of the Social Security trustees released today. In order to keep the program on track, Paulson said, the payroll tax rate will have to be raised by 3.2 percentage points or benefits cut.

“"This report confirms the need for action,’’ Paulson said. “The sooner we take action to strengthen Social Security's financial footing, the less drastic the needed reforms will be, and the fairer reforms will be to future generations.’’

[AURaptor 1,113]

So, no one wants to fess up and admit they posted how great Social Security was doing ? That figures.

But remember, it was Bush43 who tried to get the Congress to do its job and correct SS by privatizing a small portion of it.

[AURaptor 1,113]

*bump*

Until runinred or some other Lib comments on this, I'll keep bumpin' it.

[Auburn85 415]

So, no one wants to fess up and admit they posted how great Social Security was doing ? That figures.

But remember, it was Bush43 who tried to get the Congress to do its job and correct SS by privatizing a small portion of it.

another bump

Bush could have offered raising the cap on Social Security taxes, the eligible age to draw benefits, and to take the social security tax burden off of those making under $50k and it still wouldn't have gained widespread support by the democrats.

I'd expect some oppsing answer to be something like... "well, Clinton had a surplus as he left office. had Bush put that surplus into SS, we wouldn't be having this discussion." surprised it hasn't been brought up

[Bottomfeeder 239]

Glenn Beck has had something on this subject most every night this week. If they would stop stealing the peoples' money then there maybe enough for us to afford some extra groceries when and if one is to retire?

I receive an email earlier about how bad taxes are and how much a billion is. We don't comprehend a billion very well, so here's a perspective on a billion.

http://www.rumormillnews.com/cgi-bin/forum...mes;read=115345

My best uneducated guess tells me there are some serious criminals in Washington DC. They seems to occupy offices immediately in and around the White House , Capitol Building and Federal Reserve Building. So, if one of you guys would be so kind as to call the police and tell them where the criminals can be found then maybe we can have our country and money back.

[AUTiger1 0]

Glenn Beck has had something on this subject most every night this week. If they would stop stealing the peoples' money there maybe enough for us to afford some extra groceries when and if one is to retire?

I receive and email earlier about how bad taxes are and how much a billion is. We don't comprehend a billion very well, so here's a perspective on a billion.

http://www.rumormillnews.com/cgi-bin/forum...mes;read=115345

My best uneducated guess tells me there are some serious criminals in Washington DC. They seems to occupy offices immediately in and around the White House , Capitol Building and Federal Reserve Building. So, if one of you guys would be so kind as to call the police and tell them where the criminals can be found then maybe we can have our country and money back.

Heh, wouldn't that pretty much sum up every politician?

[Bottomfeeder 239]

Glenn Beck has had something on this subject most every night this week. If they would stop stealing the peoples' money there maybe enough for us to afford some extra groceries when and if one is to retire?

I receive and email earlier about how bad taxes are and how much a billion is. We don't comprehend a billion very well, so here's a perspective on a billion.

http://www.rumormillnews.com/cgi-bin/forum...mes;read=115345

My best uneducated guess tells me there are some serious criminals in Washington DC. They seems to occupy offices immediately in and around the White House , Capitol Building and Federal Reserve Building. So, if one of you guys would be so kind as to call the police and tell them where the criminals can be found then maybe we can have our country and money back.

Heh, wouldn't that pretty much sum up every politician?

Pretty much. There are a few exceptions though, very few.

[LegalEagle 22]

So, no one wants to fess up and admit they posted how great Social Security was doing ? That figures.

But remember, it was Bush43 who tried to get the Congress to do its job and correct SS by privatizing a small portion of it.

I'll put about a penny and a half in on this. We've already beaten it to death.

Show me where we'd be today if Bush43 would have corrected "SS by privatizing a small portion of it?" Wouldn't all you good folks have invested in the market right before it dropped?

Next. W43 tried his plan which was rejected. A true leader who recognized the magnitude of the problem would have introduced "Plan B." Not W, it's his way or the highway on every issue.

I don't call anyone saying that the SS fund was in "great" shape. I think we already have privatization available, it's called "Individual Retirement Arrangements." It doesn't free you from SS contributions, but it allows you to have a private fund to augment SS. If you do well, it will be far greater than your SS benefits. If you do poorly and lose your shirt, you will have SS to fall back on.

Lastly, I have yet to see anyone address the SS solvency AFTER the baby boomers are dead. Won't it work again then? If we can pump trillions into Iraq, can't we help SS over the baby boomer hump? Then it would be workable again.

Hopefully this will stimulate thought, not rhetoric.

[AURaptor 1,113]

So, no one wants to fess up and admit they posted how great Social Security was doing ? That figures.

But remember, it was Bush43 who tried to get the Congress to do its job and correct SS by privatizing a small portion of it.

I'll put about a penny and a half in on this. We've already beaten it to death.

Show me where we'd be today if Bush43 would have corrected "SS by privatizing a small portion of it?" Wouldn't all you good folks have invested in the market right before it dropped? ( I doubt the market would have dropped w/ all that new money entering into it, not to the levels we see now. )

Next. W43 tried his plan which was rejected. A true leader who recognized the magnitude of the problem would have introduced "Plan B." Not W, it's his way or the highway on every issue. ( Plan B isn't for leaders. Reagan didn't ask Gorby to " 'tear down this war....or at least take a little off the top " He stuck to his guns. I believe W43 KNEW this was the right thing to do, but he wasn't all that committed to rock the boat so much on this issue. Everyone knows what that light is at the end of the tunnel.....but on one wants to do anything about it. )

I don't call anyone saying that the SS fund was in "great" shape. I think we already have privatization available, it's called "Individual Retirement Arrangements." It doesn't free you from SS contributions, but it allows you to have a private fund to augment SS. If you do well, it will be far greater than your SS benefits. If you do poorly and lose your shirt, you will have SS to fall back on.

Lastly, I have yet to see anyone address the SS solvency AFTER the baby boomers are dead. Won't it work again then? If we can pump trillions into Iraq, can't we help SS over the baby boomer hump? Then it would be workable again.

Hopefully this will stimulate thought, not rhetoric.

We need to end SSI now, and stop the rhetoric.

[LegalEagle 22]

My request - "Denied."

[Auburn85 415]

social security wasn't meant for people to collect benefits for 15+ years, then die.

we could up the retirement age, but that to me turns it into a carrot and stick game with younger generations.

we could completely take the cap off of social security tax, but to me, that just allows people at a higher income bracket to collect more social security (the only people stopping warren buffet and the other big wigs, who claim they don't pay enough in taxes are themselves).

people born on or after 1980 shouldn't get social security and they shouldn't pay into the system anymore. they shouldn't be able to get what they've already paid into the system.

being born in 1980 means your going to be 28 sometime in 2008. This gives you at least 34-35 years to pay into your own retirement before you would become of age to collect social security.

someone can pay into Social Security from age 18-61, die, and the only thing he/she and his surviving family get from the government is a slap in the face. do they get enough to pay for his/her bills? nope. well , ok, can they at least get enough to pay for their funeral? nope. can thier living spouse continue to collect benefits? nope

let's face it, this coming of social security just shows that the government doesn't trust us (and never will) to save for our own retirement.