http://www.freerepublic.com/focus/f-news/2847964/posts
Is that the inflation that excludes food & fuel?
Anyway, I'm not so sure the usual models are in play. You've got the crowding-out effects of massive non-SS transfer payments, future employment & wage projections, etc. Add to that the huge percentage of SS payments are not paid to seniors, fraud, etc.
The sad thing is that, even here at a conservative web site, there are a lot of people who secretly believe in the Keynesian rubbish that we can just endlessly borrow and print money and that everything will be just fine.
Social Security Disability is taking the place of Welfare in States that want to dump problems on the Federal Government... That’s what going to break Social Security. And it’s what will break Disability for the folks who REALLY are disabled...
All BULLSHIT, communist scare tactics in a desperate attempt to “scare up” an election victory. Won’t work, commies!!!
Reality has been lost with the Democrat party for years. The American voter has been forced into sleep to keep them in power. If you can see reality, you know our freedom is mostly gone with our nations wealth.
Let's look at Social Security in a different light:
Would there be any shortfall at all if:
They weren't giving Social Security to illegal aliens, and
The money paid in had been set aside in a "lockbox" as promised, instead of being used as a slush fund by cooked and irresponsible politicians?
Well, like any investment plan whose assets have been looted for consumption- too big!
And Commiecare™ hasn’t even kicked in yet.
Obama & Geitner couldn’t think of enough mischief, so they lowered the EMPLOYEE part of FICA payments by 2%.
Let’s do some math:
Say there are 50 million people in the USA working fulltime.
Lets say they are making ONLY $10 an hour.
40 hours a week ..... 52 weeks a year ==2080 hours.
Let’s say they work the whole year & their gross income is $20,800.00
$20,800 times 50 million == $1,040,000,000,000
One Trillion, Forty Billion dollars gross income-—at only $10 an hour.
The 2 % ‘discount’ Barry & Little Timmy handed out for a ‘stimulus’ calculates as such:
2% of the 1 Trillion 40 Billion ==$20,800,000,000.
That is $20 BILLION 800 MILLION in funds which is NOT going into the Social Security fund via payroll deductions.
At ONLY $10 per hour!!!
Since the FICA deduction is taken out until up to a threshhold which is OVER $100,000 in individual earnings, the shortfall of money not deducted is causing serious problems for the USA.
The stimulus of the American economy which was promised by this discount in the FICA deduction never happened-—because the cost of everything, led by gasoline, has continually gone up and up.
Barry & Little Timmy are doing a great job—at destroying America.
The way out of the social security morass is to go to a forced defined contribution plan (401K’s) for people under a certain age, say 40, and deduct a small portion of wages to cover a means-tested retirement payment for people who would go without shelter and food without it, much like nursing homes now operate. If you’ve got the money to pay for nursing home care, you pay it yourself; if and when you don’t, the government steps in. That’s humane, but doesn’t give away the store.
Then, in 30 or 40 years, aggregate social security payments would be significantly reduced by the means testing, and most people would have significant 401k’s built up for their retirement. And with only a limited number of people qualifying under the means testing, the pressure to continually pump up benefits would diminish considerably, unless the program became fully funded at which point benefits could be increased and/or the tax funding the means-tested program could be reduced.
At a minimum, anyone entering the workforce today should be put on such a program. Those who’ve paid in for, say, five years already could be offered non-public treasury debt as buyouts from SS, to be placed in their 401K plan. This could be done for everyone up to a specified age, say 40, 45, or even 50. Eventually we’d get to a more stable situation that way.
States are finally realizing that defined-benefit retirement plans lead only to fiscal disaster. The federal government needs to come to the same conclusion, and soon.
I stopped reading at “after Social Security drains its trust funds”.
There is no trust fund. It is a fiction. The so called “SS trust fund” is literally a file cabinet in WV (thank you Senator Byrd!) filled with IOUs that aren’t worth spit.
http://madashelland.com/?p=1199