RE: A DROP IN THE BUCKET???? DO YOU EVEN BEGIN TO REALIZE HOW MUCH MONEY OBAMA HAS BLOWN ??
Even if he did not blow that money away, Social Security would still be unsustainable in its present form.
You can talk about all the other billions in your list. Add them all up, even if we did not spend those billions, social security would still be on its way to insolvency.
The so-called “trustees” of the Social Security Administration published their annual report a year ago and the stenographers of the financial press dutifully reported that the day of reckoning when the trust funds run dry has been put off another year: until 2034.
So, take a deep breath and kick the can. That’s five presidential elections away!
Except that isn’t what the report really says.
On a cash basis, the Old-Age, Survivors and Disability Insurance funds spent $859 billion in 2014 but took in only $786 billion in taxes, generating $73 billion in red ink.
By the trustees’ own reckoning, the OASDI funds will spew a cumulative cash deficit of $1.6 trillion from 2015 to 2026. Measured by the only thing that matters — hard cash income and outgo — the social security system has already gone bust.
Even with the White House’s rosy budget forecasts, general fund outlays will exceed general revenues ex-payroll taxes by $8 trillion over the next 12 years.
This means there will be no general fund surplus to pay the OASDI shortfall. Uncle Sam will finance the entire $1.6 trillion cash deficit by adding to the public debt. Washington plans to make Social Security’s ends meet by burying unborn taxpayers even deeper in national debt in order to fund unaffordable entitlements for the current generation of retirees.
And that’s only the half of it!
The whole rigmarole of trust fund accounting enables these phony assumptions to compound one another, hiding the fast-approaching bankruptcy of the system.
That’s what’s really happening, even if you give credit to the $2.79 trillion of so-called “assets” that were in the OASDI funds at the end of 2014.
Those funds could be empty as soon as 2026, triggering a devastating 33 percent across-the-board cut in benefits to affluent duffers living on Florida golf courses and destitute widows alike.
RE: Donald is right about us being ‘policeman to the world’. IT’S TIME THE COUNTRIES WE PROTECT START PAYING FOR SOME OF THIS PROTECTION.
That my friend is SEPARATE from Social Security. The problem in Social Security is there is no money in the trust fund and even if we isolated ourselves from the rest of the world and don’t engage in NATO or Japan and Korea at all, the fact of the matter is this -— There are not enough working people to help pay for the booming number of long living retirees.
You have to follow the example of countries that have seen this problem and slowly follow a partly privatized system (like Chile’s ) because what social Security is is essentially a long term form of socialism.
I have yet to hear Donald Trump address is this issue.
RE: CubanCanadian lawyer wants to CUT our U.S. senior’s Social Security!!!
I don’t know what CubanCanadian lawyer lawyer you are talking about. But Trump, the German/Scottish ancestried Businessman still has to address this issue. All I’ve heard him say thus far is he’ll save social security with “more jobs” and “less waste” ( heck, I could say the same myself ).
Now if it is Ted Cruz you are talking about ( the AMERICAN Senator who happens to have Cuban ancestry and born in Canada ), I’d like you to tell me where he said he will CUT the social security of Senior Citizens — C’mon, give me a link.
I’ll give you his link here:
http://cnsnews.com/news/article/susan-jones/ted-cruz-advocates-commonsense-reforms-social-security
EXCERPT:
“The reforms I would like to see — and I’m campaigning on fundamental reform to preserve entitlements. We ought to gradually increase the retirement age. We ought to change the rate of increase in benefits so that it matches inflation, rather than exceeding inflation.”
[SNIP]
we ought to allow younger workers to keep a portion of their tax payments in a personal account that they own, that they control, that can grow at market rates, and that they can pass on to their kids and grandkids. That’s the kind of bipartisan leadership we need.
Cruz’s call for allowing younger workers to set up personal retirement accounts ...
Now, how is that CUTTING Senior’s Social Security again?
Apparently you failed to read my post about the trillions we’ve poured down sh*tholes. THIS was looted from the SS funds. NO other country is this stupid. This needs to stop and stop NOW.
How about the 150 trillion he gave(death to America) Iran?
How about the $17,000 he will give to the ‘care’ of each of the criminal illegals who,by the thousands, who flood over our open borders?
This is minor as to the TRILLIONS already been doled out to sh*tholes who hate America. READ THE PREVIOUS POST!
STOP IT NOW AND FIX!!
AMERICANS AND AMERICA IS SUFFERING. PUT AMERICA FIRST!!!
No country has been as stupid as the idiots who run America!
This debate is finished.
.
WHY DOES THE SLIMY CANADIAN LAWYER HAVE IN HIS SEALED RECORDS???
HAVE WE LEARNED NOTHING FROM FOREIGNERS WITH SEALED RECORDS??