It's not my math or liberals math. Why don't you read the SS/Medicare Trustee's Report for 2012 or The Heritage Foundation analysis of the 2011 Report, Social Security 2011 Trustees Report Shows Permanent Deficits
Are you denying that they robbed the social security funds in which baby boomers created HUGE surpluses to cover their social security payments? Do you understand how much money in interests those dollars should’ve added to it over the years, but have now been robbed. And you’re willing to throw seniors to wolves?
I don't think you understand how SS works. When SS contributions are collected thru the payroll tax, the benefits are paid out. Any "surplus" is deposited into the General Fund and Treasury issues interest bearing, non-market T-bills in the amount of the "surplus" and deposits it into the SS Trust Fund. The SSTF contains about $2.6 trillion in what amounts to IOUs, that is the full faith and credit of the USG to honor them. They are held as part of the $15.6 trillion national debt under "Intragovernmental Holdings." They represent an unfunded liability.
SS has been running in the red, spending more on benefits than it has been taking in revenue since 2010. The shortfall is being made up by cashing in the IOUs in the SSTF. The reason SS is going permanently in the red is due to an aging population and a system that does not link payouts to revenue collected.
Source: CBO "Combined OASDI Trust Funds; January 2011 Baseline" 26 Jan 2011. Note: See "Primary Surplus" line (which is negative, indicating a deficit)
Matters are even worse than this chart shows. In December, Congress passed a Social Security tax reduction. Workers are temporarily paying 2 percentage points less, from 6.2 percent to 4.2 percent, in Social Security payroll taxes this calendar year. Since the government is making up the shortfall out of general revenues, CBO’s deficit projections for the trust funds do not include that. But CBO’s figures predict that the "payroll tax holiday" will cost the government’s general fund $85 billion in this fiscal year and $29 billion in fiscal year 2012 (which starts Oct.1, 2011.) Since every dollar of that will have to be borrowed, the combined effect of the " tax holiday" and the annual deficits will amount to a $130 billion addition to the federal deficit in the current fiscal year, and $59 billion in fiscal 2012.
Social Security has passed a tipping point. For years it generated more revenue than it consumed, holding down the overall federal deficit and allowing Congress to spend more freely for other things. But those days are gone. Rather than lessening the federal deficit, Social Security has at last — as long predicted — become a drag on the government’s overall finances.
Why Social Security is a Ponzi Scheme
Do you even understand when a person dies off they don’t get one dime of return on their money? Do you have a chart showing how much ADDED money to social security is never recovered by people who die before they collect it?
The money you contribute to SS doesn't belong to you. We have had a Supreme Court case, Flemming vs. Nestor that determined that. Congress can change the rules regarding eligibility--and it has done so many times over the years. The rules can be made more generous, or they can be made more restrictive. Benefits which are granted at one time can be withdrawn, as for example with student benefits, which were substantially scaled-back in the 1983 Amendments.
Yes. there are plenty of people who paid into the system and never got benefits, but there are others who get benefits without paying into the system like spouses, children, etc. And then there are those who collect disability benefits and have a shortened earning life.
SS is a Ponzi scheme.