Posted on 02/10/2023 6:57:04 AM PST by SeekAndFind
Totally agree. The Democrats have always held the demagogical high ground here. The Republicans would be fools to make this a campaign issue, because no matter how responsible reform might be, it is a nearly impossible sale when the other side is simply playing politics with the issue.
The Japanese were somewhat first, but Ben Bernanke was loudest, in the invention of Quantitative Ease.
This is the process of a central bank creating money from thin air and lending it to a government that runs a deficit. If one says “I am not monetizing debt, I am stimulating the economy” this becomes Quantitative Ease. If, instead, one were to say “I am monetizing debt” then that would not be QE. Note that the only difference between the two is what the purpose is said to be.
There has been trillions upon trillions of QE in the US since about 2008. THAT is where Soc Sec and Medicare funding comes from. Thin air.
The Swamp wants to talk about mathematics and whether to cut benefits or raise taxes, because that is Swamp focus and keeps the attention of the public off of the created-from-nothingness reality of US money.
So . . .the single most logical thing to do for Medicare is expand its coverage from 80% of costs out to 100% of costs. This will erase the entire Medigap industry and Medicare Advantage companies. Before anyone jumps up and yells about negative impact on the economy I refer you above to money coming from nothingness.
Good luck with that. W campaigned on SS reform and granted, 9/11 had something to do with it being derailed but between the closeness of the 2000 election and Dems demagoguing the issue the long knives were coming for W.
There is no such thing as depleted. They will print money. AA is just another inflationary program. It will never run out of fiat money.
Why is there endless money for welfare and illegals, which were not funded??
Solution is simple.
Every worker continues to be taxed as currently.
Any amount needed above that is created out of thin air, as is now done for almost anything else.
Would it be inflationary??
Of course!
In fact, if we can create money, eliminate taxes all together, and create a x% increase in the money supply annually.
PS - the national debt will never be paid off
The SS fund will quickly right itself once the baby boomers are gone.
The IOUs are ‘paid back’ by the Treasury issuing debt to the public.
The issue for these ponzis is that the taxes aren’t sufficient to continue promised payouts. By law the programs are funded only by payroll taxes. Those taxes have been increased over 20 times since the programs were started. When benefits are threatened they’ll be increased again.
The Americans who getting benefits now will get more than they ever paid in, future generations will pay more than than they’ll ever get back.
The Ponzi has passed tipping point for anyone born after 1975.
As of today, there are approximately 56 million baby boomers in the United States, making up around 18% of the total population.
By 2034, it is projected that the number of baby boomers will have declined, with an estimated population of 25 million to 30 million people, or approximately 8% to 10% of the total population. By 2040, that number is expected to decrease further to between 15 million to 20 million people, or around 4% to 5% of the population.
Given these numbers, it raises the question of why the Old-Age, Survivors, and Disability Insurance (OASDI) program is projected to be depleted in 2034.
As the baby boomer population begins to decrease, it is expected that the payouts for people over the age of 67 will also decrease.
A good way to start is to stop allowing FRIGGIN’ FOREIGNERS to apply for Social Security and Medicare. If you haven’t WORKED AND BUSTED YOU ASS IN AMERICA ALL OF YOUR LIFE AND THE GOVERNMENT DIDN’T SKIM THE TOP OFF OF YOUR PAYCHECK EVERY TWO WEEKS, YOUR NOT FRIGGIN’ ELIGIBLE. PERIOD!!!!
“The SS fund will quickly right itself once the baby boomers are gone.”
Ditto
Here in michiganstan, the bush league chamber of commerce worshiping republiCAN’Ts that ran this state for decades feather in the cap was raising taxes on retirees pensions and social security.
The first thing the dem majority did was revoke this tax increase.
RepubliCAN’Ts are truly the party of stupid
Soon we’ll be on the QFS system and there will be plenty of money to fund social security.
> This is a classic Republican death march—a great way to lose the House and stay the minority party forever. <
Yep. Right now the GOP is a pathetic mini-brake on government spending, and on government insanity in general. Try to mess with Social Security and even that brake will be gone.
Then look out below!
One of Ragan’s Social Security reforms was to sign the Biden-endorsed bill to tax Social Security income.
When I started working in 1959, the DJIA was at 829. Today it’s over 30,000. If all my Social Security contributions, and the matching contributions of my employers, were invested in a DJIA-indexed account, I would have tens of millions of dollars with which to retire, rather than the paltry Social Security allowance, which is below the poverty level.
Yup—classic one step forward, a million steps backward thinking by the Republicans.
They have graduated from the stupid party to the super stupid party.
I watched some Reagan clips just days ago. He said few words but they counted and he was always careful. What he said about SSI was that: “it needs to be changed but not for those currently enrolled.” That is what they did.
However, it has been robbed and misused so many times in the ensuing nearly 40 years it is headed for broke again.
Medicare is broke because it too has been used for so many things that were never intended. That and the medical industrial complex keeps thinking of new and more effective ways to milk it for all it has and more. It is not socialized medicine, it is a blank check for fat cats to get fatter.
Medicare (and Medicaid) fraud is probably one of the nation’s largest industries.
The odds of getting caught at it are probably less than one tenth of one percent—and the big boys can lawyer up as needed.
Too late. In fact it appears they are buckling down on it. The democrats will use this in 2024. I can’t imagine this being a winning issue. Reagan did it on his way out the door basically. We also lost a senate seat so the democrats had 55 seats to our 45 seats for George h bush. The house added seats to the democratic majority to 260 seats.
So I don’t think Reagan was successful in the social security arena. He made social security taxable for the first time and added two years. That’s a huge tax increase where voters obviously noticed in 1988!
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