[qam1]

Xer Ping

Ping list for the discussion of the politics and social (and sometimes nostalgic) aspects that directly effects Generation Reagan / Generation-X (Those born from 1965-1981) including all the spending previous generations (i.e. The Baby Boomers) are doing that Gen-X and Y will end up paying for.

Freep mail me to be added or dropped. See my home page for details and previous articles.  

[MNJohnnie]

But the Democrat Senators tell us there is nothing wrong with Social Security!!!!! Are you telling us Dingy Harry and his Insane Clown Posse LIED to the American People????

[neodad]

We have overpromised

Master of the obvious.

[USS Alaska]

10-15 years from now, people will look back to 2005 and see what President Bush was talking about in reference to SS and wonder how both the demonRATs and weak kneed pubbies didn't respond with a positive plan. Shame on the RATs and the pubbies have mouse nuts.

[joe fonebone]

Real quick question.........If you are disabled, and on s.s., why does the government pay for your kids to go to college?

[beltfed308]

My parents told me 30 years ago not to expect SS to be there when I retired. Started an IRA at the age of 16 and still going strong. A shame that more people do not understand that the future is up to them.

[Casekirchen]

Sorry, I don't see the problem.

All the feds have to do is raise pay roll taxes.



\sarc

[Dundee]

I'm really happy with the superannuation system we have in Australia. I like the idea that by the time I retire, I will have enough money saved/invested not to have to rely on the government.

Plus the $800 billion + (and growing) in savings and investments does the economy good too.

[EGPWS]

"They used to call me Chicken Little back then," he said. In those days, Lockhart was sounding the alarm about an underfunding crisis in private pension plans.

Underfunding my arse!

It's the diverting of funds to other political endeavors NOT underfunding!

[Tzimisce]

...but we can still afford to nationalize healthcare right?

[Jim Noble]

Social Security official: Promises can't be met

Duh!

[CGASMIA68]

57,just hit 1/2 mil in 401 k
own home and car and 27 acres in CT. have med/dent from prior employeer
No spouse or dependents
Thinking of calling it quits and drawing down
on the 401 k.Planning on SS@ 62
opinions

[sgtbono2002]

Why do they keep talking about a Social security Trust fund. There is no such animal.

[kabar]

That's how America got into the fix that will see the Social Security trust fund run out in 36 years unless something is done, according to James B. Lockhart III, deputy commissioner of the Social Security Administration.

There is no money in the SS Trust Fund, just non-marketable T-Bills, which are really IOUs. SS is a pay as you go system. Beginning in 2008, the SS "surplus" will start declining and in 2017, we will start paying out more than we are taking in. In order to meet those obligations, we will need to borrow more money and/or cut spending or programs.

I am a little concerned that the Deputy Commissioner of SSA is still maintaining the charade of a SS Trust Fund.

[goldstategop]

Talk of cuts is DOA. No politician who values his career will vote for them.

(Denny Crane: "I Don't Want To Socialize With A Pinko Liberal Democrat Commie. Say What You Like About Republicans. We Stick To Our Convictions. Even When We Know We're Dead Wrong.")

[litehaus]

"Lockhart was executive director of the Pension Benefit Guaranty Corp".....Shoulda/coulda been captain of the TITANIC --same diff.....Bad Choices have consequences PBGC was as doomed as the ship---just a bone thrown to the public to quiet concerns back then...bankrupt now..except for taxpayers who will/are expected to bail them out..recall FSLIC?

[goodnesswins]

SOCIAL SECURITY'S failure is a PERFECT EXAMPLE of the failure of GOVERNMENTS ability to MANAGE anything for PEOPLE, including.....education, health care, retirement, roads, etc.....it would be nice if people would figure out that the gov'ts PRIMARY job is PROTECTING us from attacks.

[azhenfud]

Bush Urges Business to Protect Pensions

http://www.freerepublic.com/focus/f-news/1534428/posts

Gubmint Schemes Excluded

[ExSES]

"We have overpromised." That's how America got into the fix that will see the Social Security trust fund run out in 36 years unless something is done, according to James B. Lockhart III, deputy commissioner of the Social Security Administration.

40 YEARS AGO, I went to work for the Social Security Adminitration and was told the same thing (the imbalances have obviously only gotten worse since)! No one wants to solve the problem because they will be "tagged" with the blame for their having been the final "messenger" bearing bad news!

[ozzymandus]

36 years? I'll be 88! I'll probably need the money for viagra and hair plugs by then! Oh, wait, I'll probably be dead. (just like all the RATS in congress who killed SS reform) Never mind.