Farewell and adieu to you fair "Spanish Ladies"
Posted on 04/01/2023 6:37:39 PM PDT by RomanSoldier19
Social Security will be insolvent even sooner than previously expected, with automatic benefit cuts now projected to occur in 2033, according to a new report released Friday by the program's trustees.
The new projections underscore the limited time that's available for policy makers to deal with the fiscal problems that are quickly rotting away America's old-age entitlement program. The more quickly approaching insolvency date also draws a stark contrast with leaders of both major political parties—including President Joe Biden, former President Donald Trump, and House Speaker Kevin McCarthy (R–Calif.)—who have all, at times, promised not to touch Social Security during the ongoing negotiations over raising the nation's debt ceiling.
Ignoring the ticking clock won't make it run slower. In fact, Friday's report shows that Social Security's finances have gotten worse over the past year. The Trustees say that a combination of inflation and a worsening economic outlook for the coming years contributed to their more pessimistic projections.
(Excerpt) Read more at reason.com ...
Raise taxes on all ‘Rat Lieyahs, like The Meritless Garland, Comey and Jao. [and Fat Al Briggs]
Social Security trust fund on track to run out in 2033: analysis
03/31/2023 9:16:19 AM PDT · by ChicagoConservative27 · 58 replies
The Hill ^ | 03/31/2023 | ARIS FOLLEY
https://freerepublic.com/focus/f-news/4142275/posts
Social Security Will Be Bankrupt By 2033 On Current Trajectory: CBO Report
01/23/2023 8:17:26 PM PST · by SeekAndFind · 45 replies
Epoch Times ^ | 01/23/2023 | Naveen Anrthappully
https://freerepublic.com/focus/f-news/4125568/posts
Faster than that under the environmental measures.
“”Giving illegals ss funds did not. help.””
People are shocked when they find out all the people that politicians have found excuses to give SS money to.
It’s insolvent now.
They lent the reserve money to the Federal Government and they spent it all. Their investments are IOU’s from a bankrupt government.
It would help if they stopped sending money to ukraine. And stopped funding stupid research to find out if water is wet. They gave money to Antony Fauci so they would kill off the old people with viruses. Andrew Cuomo did his part by killing 15,000 New Yorkers. That’s why they have open borders because they need workers to pay for medicare. Abortions have killed 20 percent of the USA population. And the waste goes on and on.
I bet it goes broke before then
I think the best option is raising the tax rate and/or eliminating the earnings cap. And no, that has nothing to do with me retiring soon, nothing at all! Oh yea, raising the retirement age is also fine with me, provided it doesn’t happen for a few more years.
Congress stole all the money. Let Nancy and Chuck et al come up with the funds. (of course they’ll probably be dead and gone by 2033... or is that just wishful thinking?!).
Meanwhile Kamala promises billions to countries in Africa that hate us. Biden gives billions to illegal aliens in our country. And we still have money for the UN to screw us over royally.
And yet Biden thinks we can afford to pay Ukrainian pensions! The game of the Democrats is to wreck the nation. They flush our money into every sewer to make us a third world country in which they will be the totalitarian rulers.
They have been running these scare stories since at least the 1960s. They seem more prolific during Congressional budget scares — shutting down the government, defaulting on the debt, etc.
In reality, this is a DEMOCRAT program, so let the DEMOCRATS take the lead in fixing it.
In my lifetime I’ve seen Reagan get burned for fixing, and Bush Jr. get burned for trying to partially privatize it.
On top of that, just about any fix will hit the Democrat voters at least as hard as the Republican voters, as the tax is already about as regressive as possible on Republican voters, but not as much on Coastal Democrat Voters (meaning higher income types).
The other side of the coin is if the Dems get full control in 2024, you can kiss your 401ks goodbye.They will seize those and give you an annual 2% payment ( if you are that lucky).
I have the solution to saving the Social Security trust fund, simple.
Just rename it as the Elder’s Welfare Fund and roll it into welfare programs. It will always be funded and paid out, just like all welfare without people paying into it.
Ukrainian proxies matter. Americans don’t.
It is the only way the social security Ponzi scheme will survive.
The cousin of one of my friends is a mechanical engineer in Norway.
He gave up trying to come to the USA after years of rejections.
Yet we let in human debris who are costing us rather than contributing.
Thanks a LOT dems and RINOs.
most of the entry-level jobs are 18-25 bucks an hour, so FICA got a raise without congress raising the rate.(also - the feds got more income tax revenue without raising any rate)
I’m guessing the feds will first attempt the same kind of algorithm they used in the 80’s. It kicks the can down the road again.
The rate hasn’t been raised since 1990.
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