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29 thoughts on “Another Warning on Social Security

  1. Robert What? says:

    Although over the next ten years or so it seems like we may be entering “perfect storm” territory. What with the rising tide of Boomers drawing on SS and the decreasing number people in the workforce in high paying jobs paying into SS. Even so, you are probably right – the system probably won’t “collapse”. But that will only be because benefits will be cut drastically. Maybe they’ll combine it with an even more bogus inflation index to prove to SS recipients there is zero inflation. Your thoughts?

  2. CaptTurbo says:

    I have long ago given up expectations that I will ever see any of the money I have paid in to the system. At fifty four years of age and seeing the abuse from millions of people who could work but instead choose disability and the millions of illegal aliens the left has invited into the country to become democrats, there is no hope.

  3. And remember, Clinton balanced his budget in the late 90's stealing the money from what was left of the 3 trust funds.

  4. Baloney … just make all receipts that are paid from SSAccounts qualify per the SSA laws that existed when the funds were confiscated by LBJ and commingled into the general accounting funds. SS payments based on the 40 highest quarters and the total months [years] that you were contributing to the fund.
    All other forms of SSA distribution [to illegals, refugees… who never contributed and dependent care] should be paid out of the general accounting fund and not attributed as a cost to SSA.

  5. George R. Fuller says:

    Have you noticed SS, the fund taxpayers paid into is going broke………Have you heard of any welfare program going broke?

  6. bobmann101 says:

    I thought these messages were scare tactics and believed as long as there is people in the work force we would be OK. Now I have my doubts. With all the illegals being eligible for SS and less people in the work force the future does not look bright!

  7. If the government dies not address the SS funding problem, benefits will be cut by 25% in about 20 years. This date will be extended when the Fed spots suppressing interest rates. However, the day of reckoning for the SS fund will happen. SS pensioners should prepare for it.

  8. Right now, SS has a surplus of 2.3 Trillion dollars. If our government can keep its lunch hooks away and off of it – SS will not only survive it will thrive. The ONLY problem Ss has is our government wants to spend our hard earned money of BS.

  9. Lanajean1 says:

    For as long as I can remember social security has either been broke or is urgently going broke. And yet congress still gets another raise. Who is responsible for social security? Why is it that the solution to anything is to simply throw more money at it? Public education is failing, pay teachers more. Why? They aren't teaching now? The VA is broke, can't fire the culprits, got to keep those bonuses in place for them. Why? The IRS is the laughing stock of the country, and we can't even stop that mess. Why aren't we holding these people responsible? Why does Lois Learner have the right to walk the street? Why isn't she in jail? We have certainly proven that with " big government" , no one knows what's going on or how to fix it! People are running to America as their saving grace. Any suggestions as to where Americans can run to?

  10. Why do you think that the Democrats are opening the borders and the Republicans are going along? I mean, besides the fact that the Republicans always go along. Here's the answer. More people. They eventually get jobs. More paychecks. More FICA taxes paid. No hard decisions made. A politicians dream. See my blog at http://cranky-conservative.blogspot.com

  11. Sure, if you believe revisionist history.

  12. Gary, you post the same gloom-and-doom articles over and over, but I haven't seen an "I told you so" article yet. You're not much different.

  13. a quick fix- pay everything back that has been stolen by congress, move the age to 70, charge for all wages and bonesus, use the same formula for all payouts including disibility, and payments to American citizens only

  14. Robert What? says:

    I’ve heard various things about the SS “surplus”. Some say the money has already been spent and the SS accounts contain only IOUs. On what are you basing the $2.3T surplus?

  15. This is a joke, right?

  16. NancyKosling says:

    Who or which members of Congress or the Senate allowed Obama to remove funds from Social Security/Medicare for the purpose of funding the rat-hole of the Affordable Care Act? Who objected on the house floor to prevent it? The President is a "total" dictator just as Papa and Baby Doc in Haiti were. All the money in Haiti in the Bank of Haiti were theirs to take and they did. What is the different?

  17. When Social Security goes belly up, you will get that article.

  18. No problem. The Fed can convert all those IOU's to cash with a few clicks on a keyboard. The resulting price inflation comes later, and will be somebody else's problem.

  19. There hasn't been any trust fund money since before World War 2. Although it is true Clinton ignored Social Security liabilities and added Social Security extra money to the general fund to get those nice looking budget numbers.

  20. Any history you happen to believe Shane would need to be revised in order to become remotely accurate.

  21. Robert What? says:

    Not at all. Forbes was asking the same question:


    They reference an OMB report:

    “These balances are available to finance future benefit payments … only in a bookkeeping sense. 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.”

  22. Simple problem LBJ decided to make SS part of general fund essentially stealing it. The biggest Ponzi scheme ever, money was not invested. It was spent so now current payees are funding current recipients. (Definition of Ponzi scheme). Also why does welfare never have a problem? Also government pensions, all funded by hard working people. New expression to politicians “you didn’t pay for that”.

  23. Writer Gary North is right that a 32% payroll-tax increase or a 22% cut in Social Security benefits is not politically possible, but he is wrong that "the system cannot be fixed."

    Aside from keeping Social Security dollars in Social Security, the federal government has many ways to fund what it wants to fund, such as paying subsidies to wealthy farmers. Just set up an "Elder Workers' Subsidy Fund" and put the money into Social Security.

    Then, of course, there is always the possibility of privatizing Social Security for much greater returns than under government operations (and that would also be a good way to keep the government's hands off Social Security money).

  24. Lorraine E says:

    The Social Security trust fund is empty and only contains IOU's from the government. It has been used to support illegal aliens and the money spent on that Foreign Aid should have come from the State Department's budget. Actually the Foreign Aid paid for over the years with Social Security should be refunded and withdrawn from the State Department's budget.
    Nobody says anything or does anything about the astronomical increases in the cost of all aspects of medical care. There is definitely a problem when the cost of medical care is increasing ten to twenty times over a few years. Who is profiting from these asinine increases?
    There is another huge problem which is not addressed or ever corrected and that is Social Security Disability abuse. The amount of fraud is out of control. The number of perfectly healthy people who are receiving Social Security Disability pay is disgraceful and this problem could very easily be corrected by investigating the recipients but that doesn't happen.

  25. The private business sector has provided viable retirement plans for its employees for years. So why can’t politicians? Answer: Politicians are the real lying, greedy, self serving crooks . . not businessmen.

  26. Candy Warren says:

    Me, too. I paid big bucks into the system for 40 years. Then I became disabled, and suddenly, (after 6 months of zero income) I am living on about 1/3 of previously, AND, I have huge medical bills, despite having good insurance. (NOT ObamaCare.) I am supremely grateful for those checks, however, I do worry. As long as we take in less than we pay out, the system WILL eventually run out of money. Simple math and common sense.

  27. Candy Warren says:

    Lucky me; I probably won't live that long.

  28. Candy Warren says:

    CORRECT!!!! It is insane that if someone spends one term up there in DC, they get a LIFETIME pension. We could save millions if we discontinued that one. AND, discontinue their travel pay. They are all wealthy, or they would not have been able to afford to run for their offices, and they can keep track of their travel expenses and deduct them, just like the rest of America. I am SICK of politicians being treated like some kind of Royalty. Enough, already.

  29. The private business sector has provided viable retirement plans for its employees for years. So why can’t politicians? Answer: Politicians are the real lying, greedy, self serving crooks . . not businessmen.