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To: SeekAndFind
Just take it out of the general fund and put it back into an untouchable fund

I think it would be 3 - 5 years and we'd be solvent again ... even WITH the lack of employment

3 posted on 11/04/2015 7:22:28 AM PST by knarf (I say things that are true .... I have no proof ... but they're true.)
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To: knarf
Just take it out of the general fund and put it back into an untouchable fund

Please, not this meme again.

Social Security is not "in the general fund". Excess Social Security taxes have been LOANED to the federal government, in the same way you loan money to them if you buy US Treasury Bonds.

That loan (which constitutes about $2.7T) is now being paid back, with interest. If it wasn't being paid back, Social Security benefits would have been reduced in 2010 and later -- because the payroll tax wasn't sufficient to fund benefits.

I think it would be 3 - 5 years and we'd be solvent again ... even WITH the lack of employment

Social Security is in serious trouble. The SSA has been telling you this for at least the past decade, if you had been paying attention. But, since you haven't -- I'll quote this year's report:

https://www.socialsecurity.gov/oact/tr/2015/tr2015.pdf

For the combined OASI and DI Trust Funds to remain solvent throughout the 75-year projection period: (1) revenues would have to increase by an amount equivalent to an immediate and permanent payroll tax rate increase of 2.62 percentage points (from its current level of 12.40 percent to 15.02 percent, a relative increase of 21.1 percent); (2) scheduled benefits during the period would have to be reduced by an amount equivalent to an immediate and permanent reduction of 16.4 percent applied to all current and future beneficiaries, or 19.6 percent if the reductions were applied only to those who become initially eligible for benefits in 2015 or later; or (3) some combination of these approaches would have to be adopted.

These changes would have to be made NOW. If nothing is done, here's what you can expect: around 2034, the Trust Fund will be exhausted. Social Security benefits will be reduced about 21%, BY LAW -- because Social Security can't borrow money.

4 posted on 11/04/2015 7:41:50 AM PST by justlurking
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