$13 trillion deficit looms for Social Security

NY Daily News ^ | 9/25/07

[Pan_Yans Wife]

If Bush didn’t have the guts to ride this issue until it was solved, then we have no one to blame but ourselves for electing him.

Domestically, he has failed and failed.

I’m on the lookout for the new candidates that have a solution for SS... and a solution which doesn’t involve another ponzi scheme, like universal healthcare.

[1COUNTER-MORTER-68]

“Nobody should be fooled into believing that the only way to save Social Security is to destroy it with privatization or deep benefit cuts,”
~~~~~~~~~~~~~~~~~~~~~~

DAS’Va`da`nia Komm`erad ???!?!...;0),,,(ponzi was a commie).

~~
Stupid idiot.
~~

Nope...

[Clintonfatigued]

Raise the retirement age, double the earnings limit, and modestly increase FICA taxes. That will keep things afloat for a while. Then the more serious business of restructuring the program, so that it no longer tries to be all things to all people, can take place. And partial privatization is part of that.

[Publius6961]

Maybe if Congress and the executive had not made it part of the welfare state and welcomed millions of foreigners who never contributed to it, to share in the promise of Social security, things might have gone differently?

Just wondering.

What's that definition of "insanity" again?

[enough_idiocy]

all I can see is the dumbocrats standing up celebrating during Bush’s State of the Union speech appluading the fact that they did nothing as the problem got worse.

[Doc91678]

The funds collected by Social Security were used in WWII, to help pay for that war. LBJ began using more of Soc. Security funds in the Vietnam War.
The funds were never returned and the Ponzi scheme just kept going till now.

The Baby Boomer's will have to pay in full for the sins of their Democrat Party.
Well at least I got 7 years of the funds I put in.
Never you mind, Charlie Rangel will fix things. He’ll raise taxes until we holler, then he’ll raise them higher.

[dragnet2]

Frightening indeed!! Is anyone else old enough to remember the pie charts showing how the government kept dipping into SS? For any and every entitlement program? THAT is why SS is in trouble.

You bet.

What needs to be done, is to reduce the size of the federal government by millions of positions. We have something like 20 million on the government payroll outside the military. The government has become way too large, and all encompassing.

Lets start by reducing the size of the ever expanding government.

[MissouriConservative]

I agree. Those that are counting on “tax free” withdrawals from a Roth are going to be in for a surprise when future dems and dems in repubs clothing discover the untold billions that they will be able to spend.

I foresee the change in the next 10 years.

[Nomorjer Kinov]

What needs to be done, is to reduce the size of the federal government by millions of positions. We have something like 20 million on the government payroll outside the military. The government has become way too large, and all encompassing.

Can't do it. Riots. Government jobs exist to give otherwise unemployable people middle-class lifestyles.

[expatguy]

Or the disposal of all the "old people".

An American Expat in Southeast Asia

[Paulus]

We have similar problems here in Switzerland.

[ran20]

It is not wise for a civilization to forcibly transfer wealth from the young and fertile to the old and infertile.

[Alice in Wonderland]

And there are millions who collect Social Security who are not senior citizens. I’m about to become a senior and went to my local social security office for the first time recently. I was shocked to see about four seniors among the hundred or so people waiting for (SSD) benefits.

[Left2Right]

I am so grateful that there are financial tools like 401K's & IRA's. I don't believe that IRA's and 401K's were around 30 years ago. That the Dims still believe that SS is worth saving shows how they are still stuck in the past (somewhere between 1930 & the mid 1960's).

When I look at how much I've paid into SS over 30 years & I compare that to what I've been able to do with a 401K & IRA in a much shorter amount of time, it is very disturbing; especially considering that the SS taxes that I've paid are only one-half of the entire amount (the other half being paid by the employer). I agree with you, if I could have had my SS taxes invested in some kind of financial instrument over the last 30 years, even a T-bill, the amount would probably be over a million dollars by now. Plus, if it was a private account, I could pass it on to my heirs. SS is almost as big a ripoff as state lotteries.

Social Securito Delenda Est!

[endthematrix]

The fix is EASY! (Just print more money)

[xrp]

Save your money now and offshore it before 2015-2020!

[jmaroneps37]

demcrat response? let’s bring in another 25 million f%^&ing illegal aliens and put them on social security.

[.cnI redruM]

"Nobody should be fooled into believing that the only way to save Social Security is to destroy it with privatization or deep benefit cuts," he said The Senator has $13T in the cushions of his sofa. If not there, Congressman Jefferson does own an entire refrigerated warehouse we haven't been told about yet. Nothing to worry about here.

[CSM]

I would be willing to opt out of SS and let them keep all of my past contributions with no future payments if they would allow me to stop contributing now. That would allow me to invest the 15% in mutual funds and come out way ahead.

I would consider that a win/win situation, but the socialist government we have would hate that they no longer had me under their thumb.

[CSM]

“We will do just fine on what we have saved and invested. I wonder what is going to happen to those that are depending on SS to sustain them in their “golden years”.”

Your savings will be taxed again so that they can give the “fair living wage” to those that failed to plan. You should know by now that prudent planning is punnished and that frivolous lifestyles are rewarded by our socialist government.