Social Security components going bankrupt in 2016!

Yahoo Finance ^ | May 21, 2014 | Brianna Ehley

[Kickass Conservative]

Our Finance guy came up with similar Numbers, even accounting for the Market fluctuations over the years. Add the $100,000 or so that my Wife has “contributed” and the return is increased by 50%.

Funny thing, well let’s say ironic, I have been suffering with Chronic Lymphocytic Leukemia for about ten years. Just fell out of Remission for the third time and my numbers are worse than ever. Had I waited another two weeks to get back to my Oncologist I would be dead. I was in denial of my symptoms, really dumb. Back in Chemo and getting Weekly Blood Transfusions as we speak.

I was hoping to make it to 62 so I could start collecting some of my S.S. Benefit. That’s a year away. My Wife and my Oncologist “suggested” that I apply for S.S. Disability which would net me an additional $500 a month over my age 62 Benefit. I would end up with an extra year of S.S. if approved.

I was in denial about my condition and probably still am. I actually felt Guilty going to S.S. to inquire about my Benefits and still do. Not sure if I will even be approved, but it will take months either way. By that time I may not even be around if the Chemotherapy isn’t effective this time. My Bone Marrow has the same percentage of involvement as it did five years ago, but being older has made the symptoms a whole lot worse and my Blood is like Water. Hemoglobin is less than 50% of Normal and Platelets are 10% of Normal. The Blood Transfusions (that I never needed for the past ten years) only last a Week instead of the Month that is expected. I get winded walking up one flight of Stairs. All this never happened before and I really thought I would just bounce back like the other two times. Old age is really creeping up on me.

My goal is to get at least one S.S. Check before I fall over. I’m sure a retired Democrat Union Worker will enjoy the rest of my leftover “contributions” so they can send Checks to the Hillary Campaign.

[kabar]

Oh well then. If it’s in print, it’s true then, right. So in 2016 it will be. You will see.

Denial just ain't a river in Egypt. I provided you with an excerpt from the official SS Trustees' Report, which is signed by Secretary of the Treasury, among others.

Your view is symptomatic of the ignorance of the American public about the dire straits of the entitlement programs, which are unsustainable as currently structured. I will wager any amount you want that Congress will act before 2016 to ensure that disability payments are not reduced. They have no other choice. FYI: I watched on C-SPAN about a year ago Congressional hearings on this very subject. It is a very real problem whether you wish to believe it or not.

I have no idea why you dispute the facts and figures provided by the SS actuaries. So what do you believe is the condition of the SS DI Trust Fund? Do you even understand how SS works?

[21twelve]

“Do you even understand how SS works?”

Sure! I put in double my SS payment now (self employed), and the government puts it in a lock box with my name on it so I won’t waste it all on wine, women and song. (Boy - I’m glad they are watching out for me!)

Then - when I turn 65, I get it all back. It’s swell!

[kabar]

The vast majority of people on Disability are age 60 and over.

Here is a breakdown of who is on disability. As you can see, 1,888,624 are children and 157,061 are spouses.

Here is a detailed breakdown by age for people receiving disability payments under SS As you can see, the majority of people receiving SS disability payments are below the age of 60.

[Beowulf9]

Like I said, lets see how it pans out in 2016. That’s the reality.

[kabar]

Sure! I put in double my SS payment now (self employed), and the government puts it in a lock box with my name on it so I won’t waste it all on wine, women and song. (Boy - I’m glad they are watching out for me!) Then - when I turn 65, I get it all back. It’s swell!

LOL. You have been suitably brainwashed.

[kingu]

The Sailors, Soldiers Airman and Marines would really appreciate not being able to go home on leave. What a disgusting creature you are.

I, for one, never have considered soldiers to be government employees. I'm sorry to see that viewpoint hasn't spread to you. Guess you also call terrorist attacks on base 'workplace shootings' too.

[oldbrowser]

We constantly hear about how Social Security is going to run out of money. This group worked for their benefit.

How come we never hear about welfare or food stamps running out of money? In many cases this group didn't work for their benefit entitlement.

This is the marxist word game in play

People who worked and paid into the social security system are the people who are "entitled".

Welfare and food stamps are not entitlements, they are charity. People are not entitled to charity.
Charity is for people who are handicapped and unable to provide for themselves.

[kabar]

The 2013 SS Trustees Report is the reality. Why do you persist pushing your own ignorance? If the 2013 Trustees Report is not reality, then what is the "reality" about the DI Trust Fund?

Did you ever bother reading the report?

[Beowulf9]

Why does my opinion bother you? I will get to 2016 and when I do I will see what is happening with ss then.

At that point what will be will be. What will be in 2016 will be the reality.

[kabar]

Why does my opinion bother you? I will get to 2016 and when I do I will see what is happening with ss then. At that point what will be will be. What will be in 2016 will be the reality.

LOL. I was trying to educate you about the subject. I have no problem with you wallowing in your own ignorance.

[Beowulf9]

Is it ignorant to wait to see how things turn out? That is what you call ignorant. You have no idea of what I know but you see fit to insult.

[kabar]

It is ignorant to dispute proven data. I have no idea what you know, but I do know what you don’t know about the SS DI Trust Fund.

[Beowulf9]

Can’t be proven data till 2016.

Write me then.

[OldPossum]

You want a retirement? Go right ahead and buy what you want.

Since you seem to know so much about the federal government's personnel system, perhaps you would like to tell us about the retirement benefits enjoyed by federal workers for those employed since 1985. Hint: it's not what you think it is.

[zeestephen]

Re: “As you can see, the majority of people receiving SS disability payments are below the age of 60.”

Yes, I goofed.

Only 32% at 60+.

However, what I need to see are numbers for “Age At Approval.”

That’s because the size of the 60+ cohort is misleading.

At age 66, the number essentially drops to zero, because disabled persons then begin to collect regular Social Security, even though they are still disabled.

Also, the 60-65 cohort has the highest mortality rate, which would also reduce their numbers.

[kabar]

The SS Disability Program was not intended to be inhabited by a permanent class of people with disabilities. People can come and go depending on the disability. Once you regain the ability to work, you go off the program. That is not the case now, especially for the aging baby boomers who may have lost their jobs during the Great Recession and are not looking for a bridge until they can collect full SS benefits at 67 or reduced benefits between 62 to 66.

The CBO did a study, Policy Options for the Social Security Disability Insurance Program describing the reasons why the numbers have increased so dramatically in recent years.

[napscoordinator]

The military are government workers......that is just a fact. When I get my pension from the military, it is from the United States Treasury. When I get my paycheck from the Naval Academy as a GS employee, it is from the United States Treasury.

[kingu]

So, to clarify, I am not talking about paying any government employee (including GS employees in DOD) a penny less than what they’re currently earning. Their hourly salary will include all the vacation time, sick time, holidays, etc that they currently enjoy. They would include whatever contributions are already being made for their health care or retirement (or if part of social security, taxed as normal.)

The only difference would be they would have total control over what they spend their salary on - maybe someone chooses not to take any vacations or holidays and pockets that extra salary. And total transparency as to what they are being paid. No hiding it in the budgets, or deferring payment of benefits for later budgets.

So what are you guys afraid of? Higher tax rates? Seems like a good reason to push for lower taxes. Of public reaction to how much you actually earn? Seems like a fair discussion for the public to have, how much their employees are being paid.

Both of you have reacted poorly to this idea on multiple occasions. So say why this bothers you. Think you’ll miss out on some new federal holiday?

[MikefromOhio]

Flat pay for all government workers, no benefits, no vacation days, nothing but one flat hourly pay. They want vacation days, take off - you won’t get paid for it. You want platinum health insurance? There’s the marketplace, go have fun. You want a retirement? Go right ahead and buy what you want. You want a fancy car? Buy it.

For one, it's already impossible to get good workers with security clearances at what we're allowed to pay people now. Removing all incentives to serve your country as a GS/GG/IA employee would endanger the entire DOD. there are things some E-3 just can't do.

That’s the only way to clean up this disaster. And just think about how people are going to howl over $400 an hour public employees. Least no one will be able to hide the costs (and hide the embezzlement) anymore.

NO one other than the President is making $400 an hour in the government. Most of us in DOD work for DOD because we love our country and want to serve beyond our time in the military. Personally, I could make twice what I make for the government, but I realize that what I do and the experience I bring into our projects would be lost if I left. Add to that I have several lifelong friends that rely upon me and my crew to get our jobs done so they can do their jobs in the field.

You need to quit being jealous already.