Social Security Is the Titanic

[Peter1469]

Social Security is unsustainable as is. (http://www.realclearmarkets.com/articles/2015/06/25/social_security_is_the_titanic_headed_for_the_iceb erg_101719.html)

CBO projections keep getting worse for the program.


The Congressional Budget Office (CBO) recently released its latest financing projections for the Social Security program, showing a long-term funding shortfall that has more than quadrupled since 2008. The program's trust fund, which in 2008 the CBO projected would last until mid-century, is today projected to run out two decades earlier, in 2029. At that time, by law, benefits would be cut across the board by one-quarter.

My financial plan totally ignores social security. If I get it, it is a bonus.


But anyone expecting that news to push lawmakers to act on Social Security reform is likely to be disappointed. Social Security's shortfalls have been on a steady increase in recent years, yet seemingly no one cares. Neither the administration nor the Congress has any plans to make the program solvent.


It wasn't always this way. In the late 1990s, Social Security reform was a bipartisan issue. Senate Democrats such as New York's Daniel Patrick Moynihan, Nebraska's Bob Kerrey and Louisiana's John Breaux joined fiscally-minded Republicans in drafting plans to make the financially-troubled program solvent.

[MisterVeritis]

Social Security is unsustainable as is. (http://www.realclearmarkets.com/articles/2015/06/25/social_security_is_the_titanic_headed_for_the_iceb erg_101719.html)

CBO projections keep getting worse for the program.

My financial plan totally ignores social security. If I get it, it is a bonus.
It will end with the nation's death certificate.

[zelmo1234]

Blasphemer!!!!!!!!!!!!!!!!!!!!!

How dare you spread these lies about the greatest program ever created to insure that you live in poverty in your aging years

Maybe when the walls come crumbling down people will decide that the government is full of shit!

[MisterVeritis]

Blasphemer!!!!!!!!!!!!!!!!!!!!!

How dare you spread these lies about the greatest program ever created to insure that you live in poverty in your aging years

Maybe when the walls come crumbling down people will decide that the government is full of $#@!!
Nearly all will wonder what happened. Look at all of the clapping seals here. They have no clue.

[Tahuyaman]

Social Security is unsustainable as is. (http://www.realclearmarkets.com/articles/2015/06/25/social_security_is_the_titanic_headed_for_the_iceb erg_101719.html)
CBO projections keep getting worse for the program.
.

Immigrant workers from south of the border paying into Social Security may save the system.

[zelmo1234]

Immigrant workers from south of the border paying into Social Security may save the system.

Wages are too low and the ACA is driving up the cost of healthcare to fast, not even a drop in the bucket.

[Common]

Yeah your right all of you, end social security, get rid of it. Then pay more in taxs for the elderly that corporations stripped of pensions out of greed and the 150 million americans that cant afford their own pension and will have nothing in the end, Have fun with that.

[zelmo1234]

Yeah your right all of you, end social security, get rid of it. Then pay more in taxs for the elderly that corporations stripped of pensions out of greed and the 150 million americans that cant afford their own pension and will have nothing in the end, Have fun with that.

Suggested no person in the history of the world but investing 6.5% of your lifetime income is going to make the majority of Americans wealthy in just 2 generations

However there is a HUGE downside? people will not be dependent and controlled by the government.

[Green Arrow]

Yeah your right all of you, end social security, get rid of it. Then pay more in taxs for the elderly that corporations stripped of pensions out of greed and the 150 million americans that cant afford their own pension and will have nothing in the end, Have fun with that.

In what way, exactly?

[Tahuyaman]

Wages are too low and the ACA is driving up the cost of healthcare to fast, not even a drop in the bucket.


I'm not so sure. Millions of immigrants paying into the system can rescue it.

[Tahuyaman]

Yeah your right all of you, end social security, get rid of it. Then pay more in taxs for the elderly that corporations stripped of pensions out of greed and the 150 million americans that cant afford their own pension and will have nothing in the end, Have fun with that.


I can't even describe describe how nonsensical that is.

[zelmo1234]

I'm not so sure. Millions of immigrants paying into the system can rescue it.

You have to remember the reason that the GOP will not stop illegals is because business want cheap labor, these are not people making a living wage. It is not like a 11 million CEO's you will need 10 workers to make up for one decent job.

Plus most will qualify for Medicaid so what they pay in will not even cover that, in most cases.

[Peter1469]

Yeah your right all of you, end social security, get rid of it. Then pay more in taxs for the elderly that corporations stripped of pensions out of greed and the 150 million americans that cant afford their own pension and will have nothing in the end, Have fun with that.

The thread isn't about ending SS. The thread is about SS going insolvent as it currently is structured. That should provide focus on who / which groups the problem are.

[midcan5]

If conservatives and republicans didn't whine and gnash their teeth over the sky falling what would they do. 'Boo hoo, no can do, we are such cry babies.' How sad the right is today. A useless bunch of cry babies.

"Can we have confidence in Social Security? The author is confident that Congress will strengthen Social Security, for two reasons. One, it's extremely popular politically, possibly the most popular government program of all. Two, it's the least expensive way to provide financial security to a large population, which is why there are over 100 Social Security systems around the world." See bottom for other nations, I wonder if they whine like our right wing in America does?

http://www.marketwatch.com/story/exposing-the-social-security-solvency-hype-2013-06-12

The math: http://www.csmonitor.com/2004/1227/p01s03-cogn.html


If you buy a foreign car you pay for SS in Japan or ??

http://www.ssa.gov/policy/docs/progdesc/ssptw/
http://www.ssa.gov/policy/docs/progdesc/ssptw/2014-2015/asia/japan.html

[zelmo1234]

I have a great investment program to take the place of SS

The average worker in the USA would invest 3283.00 a year. And this would not be optional

This investment would grow by 1.23% per year.

It would be set up so you would start drawing benefits when you are 67 years old and your retirement would be an average of 1181.00 a month

And because we are paying you interest, when you die, the investment company keeps the remainder of the money.

We can replace SS with this and everyone can live happily ever after! So why would we stay with the current system.

[zelmo1234]

The same investment 3283.00

You earn and average of 6.5% a year

You have 609,457.00 when you are 65 years old.

you have an average monthly income of 3301.00 per month.

And when you retire you leave your family 609,457.00

That is the crappy plan that nobody likes.

[Peter1469]

Social Security is a classic Ponzi scheme, except as Zelmo points out, the money isn't yours.

[zelmo1234]

So here is the thing, NOBODY and I mean NOBODY in their right mind would pick an investment with the return of SS

Yet the Democrats refuse to change it? So I need to know from you folks on the left????

Why is it that you refuse to replace an investment worse that Whole Term Life insurance. Which NO financial advisor in the world would recommend.

[zelmo1234]

Come on liberals you love you some SS defend the plan

[MisterVeritis]

So here is the thing, NOBODY and I mean NOBODY in their right mind would pick an investment with the return of SS

Yet the Democrats refuse to change it? So I need to know from you folks on the left????

Why is it that you refuse to replace an investment worse that Whole Term Life insurance. Which NO financial advisor in the world would recommend.
This is such a good deal they had to make it law and punish those who do not want to participate.