Posted on 05/11/2024 11:59:50 AM PDT by where's_the_Outrage?
The latest Trustees Report projects the Social Security retirement trust fund will run out of money by 2033.
The trust fund has been bleeding cash since 2018, and it's getting worse every year.
Congress has several options to mitigate the potential benefit cuts facing 70 million retirees.
There might only be enough funds to pay out 79% of retirement benefits unless Congress acts. Retirees could be in for a rude awakening in the near future unless Congress makes some changes to Social Security.
The most recent Social Security Trustees Report indicated the Old-Age and Survivors Insurance (OASI) trust fund will run out of money by 2033, according to base-case projections. If nothing is done, it will only have enough incoming cash from taxes to support paying approximately 79% of benefits from that year on. Around 70 million people will see their benefit check shrink as a result.
Combining the OASI trust fund with the disability insurance (DI) trust fund offers only a bit of relief. The report shows the combined fund running dry by 2035, at which point it could only support 83% of expected benefits......
There are several proposed solutions for salvaging the Social Security program and ensuring current retirees don't see a cut in benefits.
President Joe Biden's administration proposed a payroll tax on income above $400,000. Currently, workers pay Social Security tax on only the first $168,600 in wages received each year. That number is adjusted for inflation every year.
Biden's proposal would require workers to pay added Social Security tax on any wages above $400,000. The SSA actuaries expect such a law could extend the life of the combined trust fund by another eight years, to 2043.
Another possible solution is to increase the full retirement age for current workers.
(Excerpt) Read more at fool.com ...
Drones? As far as artillery, old stock and old cluster shells mostly while newer and better are coming in from the new production lines.
“With Ukraine war funds”—”the Army is buying a brand-new version of the Bradley, the M-2A4E1, to replace the US Army M-2A2s now in Ukraine”
“it’s also one of the first American combat vehicles to get an overhaul based on lessons the Pentagon has learned by observing the fighting in Ukraine”
“The M-2A4E1 has all the best features of the M-2A2, including an accurate gun and robust armor protection, and also adds an improved high-definition infrared gunner’s sight and air-conditioning for the passengers. More importantly, it boasts the Iron Fist active protection system – a new kind of defense against missiles and drones.”
“New “active” protection aims to intercept enemy fire before it ever reaches the vehicle.”
Medicare Spending is the elephant in the room, and will lead us into bankruptcy, SS can be fixed.
“No politician wants stories of poor little widow in their district that suddenly can’t afford food or medicine.”
LoL... unless you are republican Cliff Bentz. He just cost me everything I will ever have, including my social security at age 76.
Incompetent ass.
Yes he always votes with the Biden budgets.
RINO
If Biden et al want to do this , they will
They’ll get every dollar. It’s just that each dollar will be worth 10 cents in today’s money.
Oh I can’t recall exactly the countries that we give money to now. Crazy
Wonderful to know that we are reaping some benefits while we go broke and the merchants of death make record breaking profits.
It we go broke while the Ukrainians and the Russians kill each other, who cares as long as we learn better ways to kill a non-existent enemy.
Sure we have real enemies but we are killing our economy and making ourselves poor supplying arms to a tyrant that we put in power.
From the article:
<>Meanwhile, generations with lower birth rates have replaced the boomers . . .<>
60+ million fewer Americans.
Thank abortion.
The New World Order devils have told us we will own nothing and be happy. The U.S. government is only too happy to cooperate with them. The leveling of the middle class is well underway and will accelerate as these financial shortfalls become more critical. They will come for our land, for our homes, for our IRA’s, for our gold, and for ourselves if we resist.
Notice they never talk about welfare recipients losing or having their bennies reduced. No talk of reducing funding for anything for illegal aliens. It’s always a reduction for those that have paid into the system for years.
Welfare will keep rolling along Smh
This is what I'm thinking. Current SS benefits are being paid by legal counterfeit money; that can be continued in the future.
Some may be concerned that politicians will be embarrassed when confronted by their false assurances but no politician I know ever gets really embarrassed; they know how to pivot to the next promise.
In 10 years there will be new elderly
Our GIs do appreciate having weapons to fight with and that reduce our casualties while being deadly to the enemy.
Start with Nancy Pelosi and the Clintons.
Stop pretending the proxy war with Russia is a Ukraine war.
If you want a war, have congress legally declare war.
Or do you prefer illegal wars?
“They will come for our land, for our homes, for our IRA’s, for our gold, and for ourselves if we resist.”
May as well resist, they’ll come after you anyway.
The one solice I had left was the property I left for my children near Hornbrook California. May 1st they tore out the IRONGATE hydroelectric dam and rendered all our property worthless, a hellscape of sludge and poison and death.
This government has taken everything my family will ever have. I’ve been on the FBI gotcha list since Jarbidge Nevada. They finally found something they could hang me with.
We haven't won a war since WWII.
The military-industrial complex has no intention of winning the never-ending wars we engage in. They have sacrificed untold amounts of our US blood and treasure to fatten their wallets.
I am tired of seeing good men die so your stock portfolio can prosper.
What is the goal in Ukraine, other than never-ending war?
I have a stock portfolio?
I hope we have the weapons we need to maximize our fighting effectiveness while minimizing casualties if we have to fight Red China or Russia in the coming years, but someone has to design, invent, and manufacture those weapons.
sure man sure.
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