The Current FReepathon Pays For The Current Quarter's Expenses?
In before the “It’s my money and I want my investment back” crowd.
It is long past time for us, as a country, to recognize both of our current parties are SELLING OUT AMERICA.
Both parties.
Bring back American jobs.
Social Security is a tax, always has been always will be.
So its...
Hey America, we drew SS out of your paychecks for 50 something years and we spent it all up.
Whatchagonnadoaboutit ??
My retirement income is,at the moment,more than adequate to meet my basic needs and even allow me a few luxuries.But,given that my generation and subsequent ones didn’t have *nearly* enough productive children I’m resigned to the fact that at least the last few years of my life will be very difficult ones...both medically (thanks to the coming collapse of Medicare) and financially (the collapse of Social Security).
Phuy. What’s another 50 trillion dollars of National Debt? Big deal. Just keep printing. We can do it forever. I mean, it is not like it means anything. So we have an $80 trillion national debt. Big deal. It doesn’t really mean anything.
Just print forever. We have a party to maintain here.
The Current FReepathon Pays For The Current Quarter's Expenses?
BUT, here is what was said in 1964!
http://www.socialsecurity.gov/history/ssa/usa1964-2.html
Self-Supporting
“The program is designed so that contributions plus interest on the investments of the social security trust funds will be sufficient to meet all of the costs of benefits and administration, now and into the indefinite future—without any subsidy from the general funds of the Government.
Both the Congress and the Executive Branch, regardless of political party in power, have scrupulously provided in advance for full financing of all liberalizations in the program.”
Here is where the money went! Read and weep.
http://www.socialsecurity.gov/OACT/ProgData/fundFAQ.html#n4
If it wasn’t for phantom wealth, I wouldn’t have a
retirement!
Now you know why both parties want millions of illegals to come over the border so they can put them to work and Rob them blind to pay social security before the hoi poloi get wise and come to town with the pitchforks
imho the phantom wealth is coming. Its coming in two ways. First the fracking revolution is currently adding 500 Billion to the USA economy. But that number will rise to 1 trillion in 2-3 years. That will go on until 2020 or so. But after that the natural gas buses trucks trains and houses will plus electric cars will kill demand and push the price of oil downward inexorably and permanently towards $30 @ barrel.
Cheap energy will lead to an explosion of wealth as it did in the 1990’s— and push revenues to the federal government by another trillion dollars a year.
It was the peak of US oil production in 1970 and the rise in oil prices that created systemic deficits. The return of low priced energy and energy indepedence will fully fund retirement and medicare.
However, Obamacare also has to go. As likely it will over the next couple of years.
I would really like to see true and valid stats on how much of the government’s entitlement money goes to people who won’t work.
Which is, as several posters have suggested, why we need guest workers to pay taxes to keep social programs afloat.
If we did a hard reform of government benefits, tightening restrictions and requiring work from the able-bodied, how many now on the dole would find a way to get back in the workforce paying their own way?
I’m talking about government disability programs, Section 8, Medicaid, food stamps, etc. for anyone under retirement age. Abolish food stamps and use the money for soup and sandwich kitchens.
Tightening qualifications and requiring government work in exchange for benefits, perhaps on a sliding scale where benefits decrease gradually and work requirements increase the longer you’re on the program.
There would certainly be jobs in those soup kitchens. How much money would be saved if every unskilled government position was filled with temps who lose their benefits if they don’t show up and perform?
Show up and perform — that’s the key. Mexicans do. They work their tails off. A bunch of Americans won’t, even when the jobs are available, and it’s killing us.
Just thinking out loud.
One problem is that probably 60% of our current population doesn’t know the meaning of the word “phantom”.