Skip to comments.Trustees say Medicare, Social Security funds running out quickly (Yes, it's Obama's fault!)
Posted on 04/24/2012 4:27:17 AM PDT by tobyhill
Medicare and Social Security are on a fast track to deep fiscal problems, trustees for the two programs warned Monday.
The Medicare trust fund will be exhausted meaning it wont have enough money on hand to cover the benefits its supposed to provide by 2024, the trustees said, the same time frame anticipated in a report last year. Social Security will reach that tipping point in 2033, three years earlier than predicted last year.
Under current law, both of these vitally important programs are on unsustainable paths, Trustee Robert Reischauer said Monday.
Both parties looked to score political points on the news, with Obama administration officials saying Medicares woes would be far more severe without the 2010 healthcare law, while Republicans used the new estimates to argue that President Obama isnt serious about entitlement reform.
The trustees called on Congress to repair the entitlements quickly, saying a prompt approach would leave more options on the table and allow lawmakers to make changes gradually.
(Excerpt) Read more at thehill.com ...
If DemonRats would just put as much effort into working as they do stealing there would be no financial crisis
18 Billion seems “light” to me. They would steal that in a heartbeat; not that it will do any good at this point.
Social security funds are already “exhausted”. They must rely on government IOUs to claim they are currently solvent. But those IOUs are owed by a government that already has to borrow 1.5 trillion dollars a year to pay its bills. If your empty right pocket owes your empty left pocket $1000 you are still broke.
Of course this is satire. ZERO will accept no blame, it's a Kenyan thing. . . . . Blame bush for all bad things.
What exactly is a Medicare / Socialist Security Trustee? If one of my children wanted to be a Trustee when they grow up, how would they become one?
Actually, it is about $ 16 TRILLION in 401Ks and IRAs that the government would love to nationalize, and in its place offer EVERYONE a guaranteed pension.
Funny how that amount equals the national debt.
I misspoke by a factor of 1000 - $18 Trillion (money has become monopoly since I was a child).
Didn’t Obama steal 500 Billion from Medicare for his Obamacare scam?
Here is some economist’s view of our future with no Social Security and too much debt and NO capitalism.
So, let me ask this: If it’s going to be gone when I’m old enough for it, and the money my husband and I pay every week is supposed to go towards our share, why should I continue paying? Seems, to quote the mighty Obama, “unfair”. It’s not like it’s a small amount. It’s the biggest portion of frigging tax I pay. And if it’s supposed to help our elderly, I would rather just give my portion directly to my grandmother. She raised me, and because she spent her life raising children while my grandfather fought two wars, then caring for her 26 year old daughter as she died of cancer, then her husband of 30 years stroke after stroke, all while raising me, her stipend is tiny. I think what my husband and I pay into it is more, and I would rather she have that. Sorry, rant over.
Obama’s parked an extra 4.5M on SSI Disability hammocks and removed them from the denominator of his thus faked unemployment stats. He’s robbing ‘our’ SS to buy his re-election.
I’ve posted this before and I’ll continue to post it. Last September, Cong. Thaddeus McCotter of Michigan introduced the SAVE SOCIAL SECURITY ACT,(HR 2889) which will save Social Security WITHOUT raising the retirement age, WITHOUT reducing benefits, WITHOUT raising the withholding tax, WITHOUT privatization, WITHOUT changing the existing program for those over 50, all while reducing Governement spending by $8.3 trillion over the next 30 years.(spending reduction scored by the Social Security Actuary) Someone explain to me why this bill (co authored by Peter Ferrara) received NO ATTENTION from the media, in spite of the fact that it was introduced while Cong. McCotter was a Presidential cnadidate. IMO, whoever the Republican nominee is should run on it.
The real news hear is how many more deadbeats are getting SSI disability. Its all part of the entitlement culture. In the old days, if you weren’t rich enough to go to college, you graduated from high school and your dad helped you get a job at the local plant or in a store in town and you started your career. These days, your parents or friends help you figure out how many checks you can start collecting from the government. SSI is just one more check to collect to allow you to sit on your ass and watch TV all day and then party all night instead of being productive.
-—why should I continue paying?-—
Because Obama has a gun to your head.
Have a nice day!
Obama has been stuffing the rolls with SSI disability claims in order to remove as many people as possible from the workforce to try and keep the unemployment number down.
That’s $18 TRILLION.
We have only needed to use the denomination trillion in reference to money for a short time. I can still remember when a million dollars was a lot of (gold or silver) money.