Social Security Administration says running out of money - Polidicks

[QUOTE] [URL="http://www.ssa.gov/pressoffice/pr/trustee10-pr-alt.pdf"]Social Security Trustees report that social security will be able to make full payments until 2037[/URL](pdf). Tax receipts will dip below outlays before then, but this is precisely why the Social Security program has taken in more money than it needed, so that it could handle baby boomer retirement and increased life spans. Any projection which goes out 27 years is so incredibly reliant on the embedded assumptions about growth, employment and lifespans that it amounts to a fiction. It is, at best, a guess. Increase growth by just a little bit and the entire "problem" goes away. Get rid of the taxation cap so the rich are not capped in what they pay and the entire problem goes away. Assume higher employment, and the entire problem goes away. Assume a reduction in inequality, and the problem goes away. The US has a number of problems which are at or near crisis, such as employment, inequality and healthcare costs, to name just a few. Social Security is not one of them. It isn't even close, and politicians and billionaires like Pete Peterson who are trying to gin up a crisis should be ashamed of themselves. If they want the US budget more in order they should look at health care, where single payer could cut costs by at least a third, and at the military, where real spending has doubled since the end of the Clinton administration. Or they should work on increasing employment and increasing wages for ordinary people. That's a crisis. Instead of dealing with real problems, instead of tackling the medical industry or the military-industrial complex, instead of fixing the job situation, they want to steal money from old people. [url]http://crooksandliars.com/ian-welsh/social-security-trustees-report-no-socia[/url] [/QUOTE] You may commence your inward panic and outward denial.

it seems that you only read the article's title

It's not like this issue just popped out of nowhere.

[QUOTE=Lazor;23922929]it seems that you only read the article's title[/QUOTE] It was calling for removing tax breaks for the rich/reducing social inequality in America See today's SMBC [img]http://zs1.smbc-comics.com/comics/20100808.gif[/img]

[QUOTE=Lazor;23922929]it seems that you only read the article's title[/QUOTE] Actually, if you read the PDF file, the title was on target

So then give them some of the 3[B] TRILLION[/B] dollars allocated for defense.

OR, we could just let it die and let people prepare their own retirement funds...

[QUOTE=Ridge;23924146]OR, we could just let it die and let people prepare their own retirement funds...[/QUOTE] Or that's a stupid fucking idea when we start having old people filling up the homeless shelters and free clinics. FDR created Social Security during the New Deal because there was such a high instance of senior citizen homelessness. Us "people" aren't good for planning shit. Social Security is a good thing, because if it were left up to the people they wouldn't pay in, and then when they needed the money they wouldn't have any.

That title is terrible.

[QUOTE=Edthefirst;23924416]Or that's a stupid fucking idea when we start having old people filling up the homeless shelters and free clinics. FDR created Social Security during the New Deal because there was such a high instance of senior citizen homelessness. Us "people" aren't good for planning shit. Social Security is a good thing, because if it were left up to the people they wouldn't pay in, and then when they needed the money they wouldn't have any.[/QUOTE] What happens when you give people other people's money? They dont treat it with respect. They spend it on whatever they want. Just like Congress has been doing with Social Security for decades...

[QUOTE=Ridge;23924563]What happens when you give people other people's money? They dont treat it with respect. They spend it on whatever they want. Just like Congress has been doing with Social Security for decades...[/QUOTE] Sure, why not, it's not like the majority rely on that money to live or anything. As we all know, everyone on social security just spends it all on large screen TVs and cocaine. Like old people, those fuckers! How dare they spend their life working and bringing up a family in a low-paid job only to be told that they actually don't need an income after all because they should have done it all themselves.

[QUOTE=Ridge;23924563]What happens when you give people other people's money? They dont treat it with respect. They spend it on whatever they want. Just like Congress has been doing with Social Security for decades...[/QUOTE] Are you some sort of Social Darwinist? This isn't survival of the fittest in where people should just gather money on their own and shun others that are unfortunate to be unable to receive any from their ungrateful sons and daughters.

[QUOTE=Ridge;23924563]What happens when you give people other people's money? They dont treat it with respect. They spend it on whatever they want. Just like Congress has been doing with Social Security for decades...[/QUOTE] The people that live from that money are not fucking five year olds with no responsibility

Are you guys not understanding me? It would be a lot easier and more efficient if people took the money that usually goes into Social Security out of their paychecks and put it into a savings account. Social Security is just a ponzi scheme. I've put many thousands of dollars in, and I'll never see a penny of it back. It all goes to the generation before me. The next generation is expected to pay for my retirement, but as more people are retiring that outnumber the ones joining the workforce, it becomes an unbalanced equation.

[QUOTE=Ridge;23924563]What happens when you give people other people's money? They dont treat it with respect. They spend it on whatever they want. Just like Congress has been doing with Social Security for decades...[/QUOTE] Those poor people just use their money on iPhones and diamonds instead of food, housing and clothes for their kids.

[QUOTE=Ridge;23925529]Social Security is just a ponzi scheme.[/QUOTE] Superficial analogy.

[QUOTE=Lambeth;23925643]Superficial analogy.[/QUOTE] Fairly accurate, though. You recruit a group of people to recruit another group to all pay in to their recruiter's cash pool. [editline]05:00PM[/editline] [QUOTE=sp00ks;23925590]Those poor people just use their money on iPhones and diamonds instead of food, housing and clothes for their kids.[/QUOTE] Well, that is their choice to make.

[QUOTE=Ridge;23925775]Fairly accurate, though. You recruit a group of people to recruit another group to all pay in to their recruiter's cash pool. [/QUOTE] Do you not know the definition of superficial?

[QUOTE=CabooseRvB;23924939]Are you some sort of Social Darwinist?[/QUOTE] he's a conservative, so pretty much "I'm all that matters, screw everyone else"

We all new this would happen. Should have never signed the bill. [editline]09:23PM[/editline] [QUOTE=Ridge;23925529]Are you guys not understanding me? It would be a lot easier and more efficient if people took the money that usually goes into Social Security out of their paychecks and put it into a savings account. Social Security is just a ponzi scheme. I've put many thousands of dollars in, and I'll never see a penny of it back. It all goes to the generation before me. The next generation is expected to pay for my retirement, but as more people are retiring that outnumber the ones joining the workforce, it becomes an unbalanced equation.[/QUOTE] Exactly.

[QUOTE=SomeRandomGuy18;23931024]We all new this would happen. Should have never signed the bill.[/QUOTE] >only read the misleading thread title

[QUOTE=CabooseRvB;23924939]Are you some sort of Social Darwinist? This isn't survival of the fittest in where people should just gather money on their own and shun others that are unfortunate to be unable to receive any from their ungrateful sons and daughters.[/QUOTE] While I do agree that we shouldn't leave others out in the cold, I just don't think that having the government do it is the best way. [editline]09:27PM[/editline] [QUOTE=JDK721;23931046]>only read the misleading thread title[/QUOTE] Yeah, just realized that. We need a ban for biased or misleading titles.

Running out of money you say? Give the illegals here a Social Security Number and hope most of them pay into taxes. They aren't going anywhere anyway so put them to use Done deal.

It's admittable that social security as it is is going to fail, and soon at that. But that isn't a flaw with the idea, it's a flaw with the system that could be worked out if we tried to think about it. Giving up on something that will benefit everyone for only the slightest cost on each, is fair, and totally reasonable when you consider that you owe society a debt for providing for you.

Don't worry guys, I've seen [I]I, Robot,[/I] and in 2035 we have a thriving economy and a brand new set of robots, which must mean we fixed our social security problems by then. No need to worry.

It's running out in 2037. We'll have like..5-10 presidents to deal with it.