Posted on 12/03/2012 10:59:18 AM PST by Rusty0604
The $46.7B annual cash deficit is the third in a row. The 2012 shortfall confirms it; SS will never see a cash flow surplus again. Every dollar of the cash shortfall MUST be funded by selling additional debt to the public.
(Excerpt) Read more at zerohedge.com ...
I say cut the benefits immediately even for those on the program! They are the idiots that voted for this scam so let them lay in the bed they made for themselves. Cutting it on the youngest only makes the young pay for the older idiots.
This is exactly like buying stuff on your Visa and paying the bill with your MasterCard.
FICA tax will be extended to very high levels of income. Perhaps every last dime. The cretins of the Obama Majority are surely all for that.
Make it harder to qualify for disability.
The idiots who voted for this "scam" would be in their upper 90's or beyond. Those younger did not vote for this scam - many of us weren't born when it was voted for.
But we are the idiots who paid into this scam for better than 40 years.
Most of FDR's people are dead now.
The young whipper snappers need to learn history better before they start the blame game.
They are biting the hands that are trying to save their future. We are on their side, but they need to understand as you said, "We paid into this for over 40 years, they stole our money" I want mine back.
I do want SS to be phased out for the future, but if they keep TRASHING and BLAMING us old folks, I could change my mind.
We are now hitting the inflection point of the exponential numbers.
Next stop; chaos.
PS - The Alinskyites think they are going to be in charge after the chaos begins. It's our job to see that they are the first victims of the chaos they engineered.
Just remember, they’ve been shorting the “kitty” by 2% for the last two years. Wonder what that adds up to????
LIKE IT SHOULD HAVE BEEN TO START WITH !!!!!!!!!!!
That generation is dead. If you feel so strongly that we shouldn't get our money, YOU stop paying in now - tell your employer to stop your deduction (can you say fine/jail?) and don't take any benefits because the generation younger than you will blame you for taking yours.
You are really a dummy.
Fella, if you have a great grandma or grandpa, you can go by their graves and take a whiz on’em....they’re the ones that let FDR push this crap off on all of us. The rest of us have had no say for nigh on 7 decades now.
They are shorting the fund, But I believe all along the plan was to steal our savings plan 401k and IRA’s and blow through that pile of cash.
This is happening right before our eyes and no one is doing any thing to stop it. They don’t need to take our guns, were just handing over the cash with out a wimper
It is incredible the scale of theft by our Congress these days.
Madoff went to jail.
Politicians get re-elected.
Same idea, different outcome.
AARP and the MSM continue the coverup.
..............Just remember, they’ve been shorting the “kitty” by 2% for the last two years. Wonder what that adds up to????..............
Lets put those calculations into the whizzinator! Wzzzzz.
The normal take for the SS Admin is a total of 12.4% of payroll (1/2 emp, 1/2 empr.) So a reduction of 2%, to a total of 10.4% means that for the last two years SS Admin has only received 10.4%/12.4%. or 83.9% of the normal take.
In 2009, the SS Admin took in $807.5 Billion in “contributions”. So 83.9% of that amount totals $677 Billion, for an annual shortfall of about $130 Billion.
Yeah employment levels and wages will change that date, but that’s an approximation.
“Lets put those calculations into the whizzinator! Wzzzzz.”
I predict the payroll tax cut for the employee will never be recinded. They will raise the employer part instead, and crow about how they stuck it to those nasty bosses.
They've actually been making it easier to qualify. Every person they put on disability is one less that gets counted as "unemployed". They're gutting SS to fudge the unemployment numbers and help create the illusion there is a "recovery".
Sorry you all don’t quite understand the history. This became a real problem when they added the SS money to the general fund in the 60s or 70s—can’t remember which. So the generation on it now is to blame for this crap.
Marcella...you should be more careful calling people idiots. It typically is an idiot that resorts to name calling.
I wasn't in the congress in the 60s or 70s so I didn't vote one way or another for moving SS money to the general fund. I didn't call you an idiot - I called you a dummy and you still are if you think Gaffer, Abby and I voted for that. Go take the money away from your parents and/or grandparents, tell them they aren't entitled to that money.
I still say YOU stop paying it in now and don't accept SS when you are 65 - that'll fix it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.