Posted on 07/30/2015 7:26:12 AM PDT by SeekAndFind
All that is absolutely true...
The coming financial crunch is going to make 2008-9 look like a penny error in a checking account.
So, do the numbers listed reflect the 77% or the 100% if fully funded?........................
But the money is in a ‘LOCKBOX’!.............................
I should be able to keep every penny and invest it for myself. SS should be phased out (but I should get the money I put into it).
What - half of Detroit is collecting Social Security Disability - from their late twenties until they die...
But the money is in a LOCKBOX!.............................
...................................................
...and Hillary has the key.......
The gubbamint will have absolutely no choice but to raise SS taxes and FICA as well as cut benefits in the coming years.
Unfunded, “promised” future benefits exceed 50 Trillion dollars...yes, with a T.
This is close to the GDP of the entire planet. No way, no how will they be able to honor this.
I have seen the lockbox.
It is the briefcase full of IOUs in the Dumb & Dumber movie.
And like Lloyd said, “Thats as good as money”
But, but we were promised!
http://www.socialsecurity.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.”
And here is where your money went! Read and weep.
www.socialsecurity.gov/OACT/ProgData/fundFAQ.html#n4
I you are the government, inflation is a wonderful thing.
Sorta sucks for everyone else.
The lie of communism
Their only hope for staving off financial collapse is that the Baby Boomers all die off early before they collect enough to break the system. Thus the ‘need’ for ObamaCare...................
The IOUs are in a lockbox.
Well, UOIs in a filing cabinet.
And so the >$100T in obligations becomes relevant
During the height of the Boomers' payments to SS even Clinton offered a budget that used some of the surplus to pay down the government's debt.
Instead it was spent on such programs as 'midnight basketball' LOL!
Take your social security the very first day you can. Take it for as long as it lasts.
Baby Boomers all die off early before they collect
Bingo, we have a winner. The sooner we start rationing and denying extraordinary health care to the very people sucking the life blood out of the SS program, the sooner SS will become self sustaining, sort of.
The major talking point should be how we can force the government back within the boundaries of the enumerated powers of the U.S. Constitution.
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