Posted on 05/09/2015 2:14:24 PM PDT by T Ruth
[snip]
Studies from Harvard and Dartmouth this week corroborate Bush’s warnings on Social Security, and further accuse the SSA of increasing bias in its analyses in order to maintain the illusion of a slower decline:
[snip] researchers find that the SSA’s actuarial forecasts have been consistently overstating the financial health of the program’s trust funds since 2000.“These biases are getting bigger and they are substantial,” said Gary King, co-author of the studies and director of Harvard’s Institute for Quantitative Social Science. “[Social Security] is going to be insolvent before everyone thinks.” …
Researchers examined forecasts published in the annual trustees’ reports from 1978, when the reports began to consistently disclose projected financial indicators, until 2013. Then, they compared the forecasts the agency made on such variables as mortality and labor force participation rates to the actual observed data. Forecasts from trustees reports from 1978 to 2000 were roughly unbiased, researchers found. In that time, the administration made overestimates and underestimates, but the forecast errors appeared to be random in their direction.
“After 2000, forecast errors became increasingly biased, and in the same direction. Trustees Reports after 2000 all overestimated the assets in the program and overestimated solvency of the Trust Funds,” wrote the researchers, [snip]
How bad is it? Barron’s notes that the estimates are off by $1 trillion, maybe more.
Some of the predictions have already been proven correct. Social Security went into the red on payments against revenues in early 2010, rather than in 2017 as predicted by Reid and the Democrats [snip]
(Excerpt) Read more at hotair.com ...
Are there any reliable figures on the number of black people on disability? Especially young people? That would be a very interesting thing to know.
I’m starting mine at 62. I have no faith that it’ll be around if I hold out longer.
>> Or SS receipeants will be executed at 72
Never mind my last post; I’m starting my SS at 73. :-)
“The country has a moral obligation...”
From what divine decree does this moral obligation stem? I am only obliged by the fact that if I do not pay the SS tax men with guns will eventually put me in jail. And that is what SS is a legal armed robbery.
It forcibly takes from today’s tax slave and gives it to today’s recipient’s. It causes middle class government dependency and purchases votes for the Socialist’s agenda. It the most successful government program to date.
Obamacare will soon be the next most successful.
Basic morality: follow the law and try to do what one (through their elected representatives) has agreed to do.
So basic morality is doing what your elected leader tells you to do? So if tomorrow your dear leader votes to eliminate Social Security it will be morally correct?
You are wise.
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