The Social Security Lie

[delldude]

As long as I can remember, pol's line up and crow about how the SS trust fund is viable it has enough to cover all payouts.

Looks like its bullcrap.

From my most cherished and valued media source, NYT:

In the first presidential debate, Mr. Obama described Social Security as “structurally sound,” and Mitt Romney said that “neither the president nor I are proposing any changes” to the program. It was a rare issue on which both men agreed — and both were utterly wrong.

Not to worry though, they were only off by a mere 800 billion.

What’s not is that the Social Security Administration underestimates how long Americans will live and how much the trust funds will need to pay out — to the tune of $800 billion by 2031, more than the current annual defense budget — and that the trust funds will run out, if nothing is done, two years earlier than the government has predicted.

And with all this, Obama had the audacity of dropping the payroll tax by 2%, for what?

http://www.nytimes.com/2013/01/06/opinion/sunday/social-security-its-worse-than-you-think.html?_r=1&

 

[700UW]

Go ask Bill Gates or anyone who makes over $100,000 stops paying Social Security Tax, remove the cap and it will solve the problem.

 

[delldude]

I believe it is a little more than that if you read the article, it explains the situation rather eloquently.

 

[700UW]

http://www.ssa.gov/pressoffice/factsheets/colafacts2013.htm

The cap is $113,700.

 

[delldude]

I see your point, but why then is NYT going about it differently?

They are right as to miscalculations, ages, etc, since it was formed. Needs updated due to longevity and several other factors.

 

[Glenn Quagmire]

Thanks for posting the article (Op Ed). I look forward to reading it.

 

[delldude]

Thanks for posting the article (Op Ed). I look forward to reading it.

Foot in mouth......read before you react.

 

[Glenn Quagmire]

Foot in mouth......read before you react.

What? I really do look fwd to reading it.

Is this what you are talking about?


"A version of this op-ed appeared in print on January 6, 2013, on page SR4 of the New York edition with the headline: Social Security: It’s Worse Than You Think."

 

[delldude]

What? I really do look fwd to reading it.

Is this what you are talking about?


"A version of this op-ed appeared in print on January 6, 2013, on page SR4 of the New York edition with the headline: Social Security: It's Worse Than You Think."

Excuse please....this one on me.

 

[RDU Jetblast]

but it is not the first time they ran a deficit. 2010 & 1983 were bad economic times. many unemployed and less coming in.

My body will never make it to 65. I know they are going to raise it but I'll have to live off of savings for a few yrs.

 

[delldude]

but it is not the first time they ran a deficit. 2010 & 1983 were bad economic times. many unemployed and less coming in.

My body will never make it to 65. I know they are going to raise it but I'll have to live off of savings for a few yrs.

My God man.....don't talk that crap.

 

[RDU Jetblast]

Lol!

 

[NewHampshire Black Bears]

Well dell, you'll get NO arguement from me, as to SS needing to make adjustments as we/it goes forward.
Yup, people ARE living longer. Eligibility levels will need to be Raised.
I have no problem with.....'southwind....having to Work Longer, and PAY MORE into SS and not be able to draw it until (say) '70'.

At 67 1/2, .....still working, ......drawing 100% SS, ....paying ZERO SS taxes,... very healthy,.... NEVER smoked a day in my life,..... MOM is 88 and healthy as a horse,..... and me really planning on seeing " 90 ",.... Social Security is the 'Best Game in Town ' !!

Stay Healthy... ' southwind .....!!!!!!!!!!!!!!!! : ) : )

 

[Dog Wonder]

Mentally healthy.

Not gonna happen.

 

[NewHampshire Black Bears]

Mentally healthy.

Not gonna happen.

You've got a Point ' Dog.
No matter which way the poor Bas-tard turns, he loses.
Whether it's the election, the fiscal-cliff, having to PAY SS taxes, the up-coming 'Debt Ceiling' (his 'boys will CAVE-IN on that too)..having to work until he's '70', the 2014 elections,..the 2016 elections,......I mean..lets face it. 'Our Boy" can't catch a F'n break !

Oh well.