[pissant]

Wait, all they have to do is dig into that trust fund that has been building up over the decades.....

[silverleaf]

No worries mate, just find the key to the lockbox

[DuncanWaring]

Good - now come up with a plan to phase it out over the next 25 years for everyone currently under 62 years of age and drive a stake through its heart.

[GeronL]

What you do is, form a corporation and have this corporation assume all of the national debt and then have it declare bankruptcy.

simple.

//sarcasm

[jpf]

But, but, Harry Reid was on Meet The Press like 2 weeks ago saying this would never happen...

[diamond6]

The govt will do what it does best....just print more money.

[ScottinVA]

Where’s Harry Reid to make the “bold” assertion there’s nothing wrong with Social Security... those words that he used when Bush wanted to cushion the fall by allowing recipients the option of privately investing up to 2%?

[RC2]

All they need to do is pay back the $2.5 Trillion they borrowed from the fund.

[ScottinVA]

Wait, all they have to do is dig into that trust fund that has been building up over the decades.....

It's in the lockbox somewhere sharing space with a certain, celebrated birth certificate.

[mojito]

I've got an great idea!

SS can just issue bonds to cover the ever-growing deficits and the Fed can buy them with printed money!

Problem solved!

Now wasn't that easy?

[Nachoman]

Just give me a few acres of Yellowstone and I’ll call it even.

[screaminsunshine]

Damn I was sposed to get the first of my money back on April Fools Day. Perfect. I applied early cause they lowered the pay amount 3 times in the last six months and 40 bucks less than the report I just got in January said i would start getting back. April Fools Suckers. I will trade it and medicare for all laws passed since 1950 to be immediately repealed and all the Agencies terminated.

[lacrew]

Remember all those ‘surplus’ years in the ‘90s? It was only a surplus due to intra-governmental transfers...a fancy term for borrowing from the SS trust fund to put into the general fund. Receipts never exceeded expenditures...it was all smoke and mirrors.

But, you see, intra-governmental transfers aren't counted as borrowing. Why? Because a bunch of accountants said so.

[Tupelo]

FICA “Contributions” from me and my employer(s) total 15% of my income for the past fifty years. That was touted as an insurance policy for my old age. Hell, Al Gore even talked about how he would protect the ‘lockbox’. Was Al Gore lying to me? That is a rhetorical question, hell yes he would and did. Them B*****ds in Washington district of Corruption STOLE it.

[pallis]

What are we talking about here, ...illions? That’s nothing for creative economists and liberal politicians. A little stimulus here, and a bailout there, and everything is peachy. Stop thinking about it as cash. It’s just numbers that don’t mean anything.

[Nachum]

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/

[sickoflibs]

RE :”The CBO’s revenue/expenditure estimates now place the program in permanent deficit. There had been some hope that payroll taxes would recover sufficiently post-recession to put the program back into the black (the theoretical black) for at least a few more years, putting off the day of reckoning for an election cycle or more. No more: The new CBO estimates put Social Security in the red for as far as the eye can see.

But there’s a bit of camouflage attached: If you include the “interest” that the federal government “owes” the fictitious Social Security “trust fund,” then the program is in the black. Which is to say, if you think that borrowing another $1 trillion from the bond market to shift money from one government account to another government account makes the nation $1 trillion richer, then everything’s hunky-dory. But if you compare the program’s tax income to its benefit outlays, without the “interest” owed, as CBO does, what you get is deficits from this year forward to 2021 of $45 billion, $30 billion, $28 billion, $30 billion, $31 billion, $33 billion, $44 billion, $59 billion, $77 billion, $98 billion, and $118 billion — by my always-suspect English-major math, about six-tenths of a trillion dollars in the hole.”

It's about time. Now Republicans need to RAM the CBO numbers down Democrats throat since they LOVE the CBO. Problem is:Republicans seem terrified to tell voters the truth: that THERE IS NO SS TRUST FUND.

How could it be the black? they just cut FICA taxes!

[monocle]

All we have to do is to find that lock box.

[griswold3]

I have no expectations of receiving what I’ve been promised... it’s long gone.

On April 5, 2005, after visiting the Bureau of Public Debt in Parkersburg, West Virginia, President Bush said:

“I have just come from the Bureau of Public Debt. ... I went there because I’m trying to make a point about the Social Security trust. You see, a lot of people in America think there’s a trust, in this sense — that we take your money through payroll taxes and then we hold it for you, and then when you retire, we give it back to you. But that’s not the way it works.
“There is no ‘trust fund,’ just IOUs that I saw firsthand, that future generations will pay — will pay for either in higher taxes, or reduced benefits, or cuts to other critical government programs.”

Social security began in 1937 - people could retire and receive their SS “benefit” at age 65. Any guess to what the avg life expectancy was in 1935 - when SS was signed into law? 63 for a woman, 59.5 for a man. In all this time, the age to collect hasn’t changed. The avg life expectancy now is close to 80. The number of payers into SS has dropped from 16 down to 3 for each person collecting.

How can anyone realistically expect the system to remain solvent?

Madoff only wishes his ponzi scheme was as good a social security.

[The Comedian]

Sarah-Palin-has-failed-to-prevent-the-bankrupting-of-Social-Security ping.

"Economic Holocaust" ping.

Increasing volume ping list watching the slow motion Economic Holocaust.

FReepmail me if you want on or off
The Comedian's "Economic Holocaust" ping list...

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[Atlas Sneezed]

NOW is the time to float the retirement age without limit annually to maintain year-to-year break-even solvency.

Let the geezers fight to cut the SSI disability abuse, so they can retire sooner.