Skip to comments.Harry Reid calls Social Security insolvency a "Myth"
Posted on 06/29/2010 7:21:19 AM PDT by Patriot1259
RENO, NV -- During the Nevada Democratic Party Convention that was held over the weekend, Senator Harry Reid called the idea of Social Security insolvency a myth while claiming that the fund should remain solvent for at least another 40 years. Reid went on to say that this myth was perpetuated in order to scare senior citizens,as noted by reporter Jon Ralston.
This isnt the first time that Reid has made out-of-touch statements about the solvency of Social Security. Reid said in 2005 that he believed the Social Security crisis exists in only one place: the minds of Republicans. And in 1999, Reid claimed that Social Security is not in trouble and stated and until the year 2032, people are going to draw 100 percent of the benefits. Contrary to Reids claims, the New York Times reported that, This year, the system will pay out more in benefits than it receives in payroll taxes, an important threshold it was not expected to cross until at least 2016, according to the Congressional Budget Office....
(Excerpt) Read more at thecypresstimes.com ...
WOW! His level of stupidity is worse than I thought....
So is his level of corruption!
In the long term SS taxes only cover about 2/3 of the projected benefits. That means benefits will have to be cut by 33% through across the board cuts, raising retirement age, means testing or (under Obamacare) killing off old people through restrictions on medical care. Also possible is raising SS taxes by 50% or some combination of tax increases and benefit cuts.
Dementia is so sad ....
Well hell Harry, if you can print up a couple of trillion when you want to, you are never in arrears. What a complete putz.
"I don't need all of the people all of the time. I only need to fool 51% through November" - Harry Reid.
NV residents call another term for Harry Reid a “myth”.
We all need to support Sharron Angle....she NEEDS the help!
If it is a myth, it is a myth which Social Security itself propogates. Go on-line and order your own earnings report right here.
When you get it in a month or so, it will spell out this myth so even you can understand.
Except for the fact that you have your own special gold-plated plan reserved for the ruling class.
Oh, okay, then.
Wait a minute, I WANT TO RETIRE IN 2032!
LOL, the corollary is: ‘Wow, the voters of NV are drooling morons for sending him back to Congress for so many yrs.”
Yep! However, we can avoid having the moron in Congress and we can help the GOOD people of NV by supporting Sharron Angle!
It’s scarcely conceivable that this person is the leader of the majority party in the United States Senate.
Why not just raise the retirement age one month each year? rather than a sudden jump of years at a time
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