Posted on 05/06/2024 1:48:54 PM PDT by ChicagoConservative27
🤣🤣🤣🤣
Ponzi
Sturdy economy ?
What’s s/he smoking?
cease payment to all illegals
review those on disability when the rolls swelled during the 2008 crash
I did a lot of calculations on taking Social Security early vs waiting until full age.
Ran the paid online calculators.
In my case, taking it at 65 vs waiting until full age meant my catch up point was post 81 years old.
Decided to file and get back some of what I paid in over the decades.
Years ago, Heritage Foundation had an online calculator that showed in my case the Social Security rate of return on all I contributed would be -2%.
Sucks, but no choice.
So we planned as if we were not going to receive it...
I do like seeing it hit our bank account.
"Great News Comrades!"
h/t Mr. Orwell.
I did that. It worked for me because I was investing during a long period of stock market growth. I was lucky.
ROFLOL
Bingo! Give that man a cheroot! It is also because the Boomer chicken he’s beginning to exit the snake. Also because social security increases are paltry compared to wage increases. The other news is that politicians could fix social security bye making a few minor and even temporary changes. Social security at 62 should never ever have been just putting it all to 65 would make it solvent overnight. I delayed mine until nearly 69 so I practice what I suggest
Is this the Bee? Titanic to remain afloat an additional 1/2 hour?
This is a silly story.
Biden and Magic Johnson have a $8 Trillion dollar budget planned.
Actually most died before the vaccine was even available or there wouldn’t have been a need. Only when trump fast tracked the vaccines did the seniors deaths begin to decrease.
The SSA holds trillions of dollars of US govt bonds.
I’m sure folks would prefer it being in BTC or fiat etc....
Such is life.
Well with senator Scott yelling it weeks before the election, the commercials write themselves.
Majority get way more than they put in. The rich are guaranteed too. The working poor? A smaller percentage since their checks are vastly smaller.
Sturdy economy? I don’t get it. Where at?
Translation from "governmentese lingo" into plain English, "They pulled the numbers out of their ass but it sounded good."
They hold Billions in IOU’s so to speak to go to the treasury with when they need money.
SS is not the real problem funding wise, it is Health Care Costs that are killing us.
We take in about $450 Billion on Medicare taxes, but we spend $2.5 Trillion on spending. That cannot continue. A good part of that is for Medicaid. The government pays 85% of Medicaid and states 15%.
So what happens to Medicaid if the Feds can no longer pay, the states cannot pay it. So realistically you might see all Medicaid spending at the state level slashed 85%. This is one of the reasons we are closing in on $40 Trillion in Debt.
Those bonds are interest-bearing, non-market T-bills backed by the full faith and credit of the USG. They are part of the 35 trillion dollar national debt. The T-bills have the same risk as other T-bills issued to Japan, China, UK, or mutual funds.
Since SS has been running in the red for a number of years, i.e., benefits exceed revenue, the T-bills have been redeemed to make up the shortfall.
What sturdy economy?
They’re flat out lying.
Course, anything to win the election.
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