Posted on 06/03/2013 1:06:02 PM PDT by Olog-hai
The Social Security program faces $9.6 trillion in unfunded liabilities over the next 75 years, which is up $1 trillion from last year’s projection of $8.6 trillion, according to the latest report from Social Security’s board of trustees.
The unfunded liability is the amount that has been promised in benefits to people now alive that will not be funded by the tax revenue the system is expected to take in to pay for those benefits. (The Social Security trustees calculate the unfunded liability for a period of 75 years into the future, from 2012 to 2087). …
(Excerpt) Read more at cnsnews.com ...
I really don’t think Los Gangstas de Ocho’s idea of importing Mexican Nationals to make up this shortage is going to work out. But hey! What do I know?
And ... "I want what's coming to me"
And ... "Just give me back what was taken from me, and I'll be happy"
It's a Ponzi scheme folks. It doesn't work. The money isn't there. You've been scammed.
Interesting, I just gor a call from an Indian sounding guy who said because I was an upstanding American and had no felony convictions in the past two years that I was going to get a check in the mail for $5,000.00 as a reward. I told him to use the money to pay the military.
Always must convert “per household” figures to “per tax-paying household”, which makes the figure closer to $200,000 per tax-paying household.
Exactly, ALL of it is an unfunded liability. They only thing left out of the thousands of dollars the SSA took from you is worthless IOUs.
As it turns out, my wife and I contributed $3 million had the money been deposited in an index fund. We will take out $900K given a reasonable life expectancy.
No guilt here.
That will be a nasty special-one-time tax (above income taxes)for Obummer to impose in favor of fairness.
Not to worry I have some Zimbabwe banknotes (180 trillion) that will cover it all. The remaining 58 trillion we can figure out what to do with later.
“We will take out $900K given a reasonable life expectancy.”
That’s a nice chunk of change. How much each per month? And I hope you both have long and healthy lives.
I got them from ebay. 100 50 20 and 10 trillion dollar banknotes. I never worried if they were counterfeit or not since they are worth the same.
9.6T? Kill off existing recipients with Obamacare. Who do those free-loading parasites think they are? Raise the retirement age to 150. With all of the cash saved, create multitudes of new socialist government agencies.
Whew, at least it’s safe...lockbox and all!
I'm pretty sure the federal gov't has plenty of property to liquidate. Social Security ought to be the creditor at the head of the line in the Great Bankruptcy. But it needs a shareholder revolt first.
Preach it bro!
Yeah it ain’t theft when I do it. :)
So you’re saying it wasn’t theft when they stole from you?
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