Posted on 10/06/2021 4:19:10 PM PDT by Onthebrink
“A default could potentially — but not necessarily — delay the payment of Social Security benefits, which reach about 65 million Americans in some form,” the Times said. “It could also delay payments to government contractors, including hospitals that accept patients who use Medicare and Medicaid benefits.”
A default would also have effects that trickle down further, including to state-run programs, as well as the expanded child tax credit. The next scheduled payment from that is October 15, which is before the possible default date, although another payment is due November 15.
(Excerpt) Read more at 19fortyfive.com ...
I’ll lose it anyway when the vax mandate is applied to SS recipients. Not a big deal for me, but terrible for others.
We the non-jabbed will eventually lose any form of monthly income in fiat dollars through one device or another. Also all services such as utilities, ambulance and all medical care, banking, wireless,etc. Confiscatory surcharges will be added to our property taxes to compensate for the “hazard” our unjabbed protoplasm represents to the “community”.
Cash will gone in favor of CBDC, and all our CBDC will subject to freezing or confiscation if we don’t get caught up on jabs. The objective will be to put us non-jabbed out on the sidewalk in tents or in work camps where we will be socially and politically powerless.
Gold will be good to have in the near future, if you can protect it from confiscation and find a black market to use it. BTC in a cold wallet will make you or your inheritors rich someday, on the other side of the madness. All things must pass.
Has the lack of any enumerated power prevented Social Security checks?
They’re going to piss off a lot of old people.
NOT a good idea.
We’re at the age where we don’t put up with crap any more and have nothing to lose by fighting back.
No.
Defund the zillions of useless government hand out programs first, like welfare and the Dept of Education.
SS is something we paid into. It’s not government money they are handing out like charity.
Notice how it is never the welfare checks for people that never worked that is never at risk. It’s always the paltry Social Security checks that people earned from a lifetime of working and contributing to society.
It is not really a financial crisis unless they stop sending out money for welfare, EBT cards, Section 8 Housing, Food Stamps, Aid to Dependent Children, Medicaid, et al.
If that were to happen, it might be time to start worrying.
It’s an interesting question, because the SS checks supposedly come from the Trust Fund, but since the Treasury needs to sell marketable bonds to redeem the non-marketable Trust Fund bonds, I’d say they would have to delay SS payments, too.
It is supposed to be a “self supporting “ program. So it was claimed back in 1964.
https://www.ssa.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.”
All that other stuff would be at risk, too.
Agree.
As a boomer why should we possibly feel guilty or on thin ice because we created the things we did?
We deserve good and so do you, equally.
And we don’t owe anything to the minorities, illegals, BLM, Dems, Marxists, socialists,Communists and climate change idolators trying to defame America and bring down the American Way of Life. Except misery.
Good question. We Boomers HAVE had it good because our parents, the
“Greatest Generation” made it possible to have the freedoms that allowed us to make all this possible.
I don’t know about Fate, but I do know the democrats have really effed things up. LBJ and his “Great Society”…….. barf
“SS is something we paid into. It’s not government money they are handing out like charity.”
Except we didn’t pay into it or it would still be there for us. SS was simply used to allow a much lower income tax rate than what would have been necessary with our level of spending. We, collectively, wanted low income taxes and high spending - and the problem was solved by taking our SS money and mixing it with other tax revenues, and then spending it.
So ANY SS money being paid out now is on the backs of our kids and grandkids...the money we paid in is LONG GONE.
Don’t know the validity of the following but I recall my father telling me in the 1980s that JFK used the social security fund to make loans to third-world nations who then defaulted on the loans. Prior to that social security was 100 funded and earning interest.
Any FReepers know anything about that?
That’s good. Next up scare the older generations. That’ll work.
We Boomers surely did have it good.....and screwed it up beyond belief. I am embarrassed.
FWIW, I fought the idiocy and contributed not.
It shouldn’t. SS is a self funding actuarial based program.
But illegals will do just fine
There would be no “default”. Obligations are always paid first with Servicing the Debt as number one. SS, Medicare and Government Pensions come next. The Debt Ceiling being hit has no effect of Tax Revenues flowing into Government Coffers. Just more scare tactics.
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