those daca kids will save us .. .¿
Now that gay marriage is legal, there are more payouts in spousal benefits.
I’ll be outta here by then.
Get ready for this: the next step in the government borrowing from Peter to pay Paul is going to be retirement funds.
Existing funds from held funds normally used for investments like IRA’s and T-bills, are going to be raided with a promise of repayment, which never seems to happen as we are in the current shape due to that, to fund what they call required programs which now include social security and medicare. And if you think it’s inconceivable for the government to borrow your retirement savings, just consider the following.
Forced loans have been a common tactic of bankrupt governments throughout history. And there’s recent precedent all over the world; Hungary, France, Ireland, and Poland are among many governments that have resorted to ‘borrowing’ public and private pension funds.
During the multiple debt ceiling fiascos since 2011, the Treasury Department resorted to “extraordinary measures” at least twice in order to continue funding the government. They dipped into federal retirement funds and borrowed what they needed to tide them over. In fact, the debt ceiling debacles were only resolved because the Treasury Department had fully depleted available retirement funds.
In 2015 the government initiated an act that is called MyRA and the idea is for people to invest retirement savings ‘in the safety and security of US government bonds’.
But like the ACA, it, in time, will have teeth to hold on like a bulldog. It will charge a penalty to employers whose workers don’t have a retirement account at $100, per worker, per day. Not the real incentive here as they advertise it. It is another punishment for the feds not being able to get what they want from you. And it will clobber employment putting more people dependent on the government.
Oh, a reminder. Did anyone start to think that this funds recovery may have started with the mortgage debacle in the late 90’s? Ooooohhhh but these government crooks are bloody greedy. And as they are handing their mismanagement mistakes back to the taxpayer they are closing the door of the freedoms we know.
rwood
Get ready for higher taxes folks! The ponzi scheme is collapsing.
Unfortunately, the response of way to many “conservatives” to all of this is:
1. Don’t touch my Social Security and Medicate since I paid for it.
2. Get rid of “waste” to fund the deficit, or get the politicians who created the mess to pay for it.
Because SS is basically a pay-as-you-go system with no accumulated funds, how is insolvency defined? It seems that outflows and inflows should pretty much offset each year.
It's time to get the real numbers... it's time to get the truth....
Every time i visit a SS office whether to fix their computers or as a private citizen it seems that i am the only English speaking NB citizen in the waiting area...also the thinnest...
I used to think that the Washington Times was supposed to be more conservative than the Washington Post. This dispels that notion in a hurry. This is a scare-mongering hit job on Trump. Every time a Republican has to run for office or re-election, they trot this out again.
Getting people hooked on the gubmint gravy train is the biggest mistake. Social welfare programs always bankrupt nations. The ONLY reason Europe has carried on with it so long is because they have underspent on defense due to being under protection of the U.S.
Any pre-retirement person who thinks they are going to receive anything substantial from SS ought to have their head examined.
I don’t expect to receive anything. You are on your own when it comes to retirement. Trusting the federales with retirement is a fool’s mistake.
Many will not be able to retire. They will work till they are completely disabled or drop dead.
What’s more dangerous than a retired old man with nothing to lose and no Social Security payment after paying into it his entire life?
2034? You mean, I’ll have time to sidle up to the trough, too? Yay.
How much money goes down the drain for all the illegals, their kids being born in our hospitals and getting citizenship so they can claim all the benefits, their ER visits, their school breakfasts and lunches, people actually having to go to court and suing the government to get Disability benefits and why are there such things as disability lawyers, all the benefits that go to refugees and asylum seakers, all the foreign aid to countries that hate us, tuition and education grants for those here illegally
I would think that if most, if not all, of that were dealt with and there actually was a SS Fund, then this problem could/would be fixed.
And then there’s the $21 trillion in unauthorized military spending...
Who knows??
And this is news how given we have long known that Social Security and Medicare were long insolvent and imploding?!?
I helped pay for the retirement of my parents’ generation.Looks like they’re the last generation to die solvent.