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Thread: Social Security reserves forecast to run dry in 2022

  1. #111
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by MrVicchio View Post
    Reality check, SS is a Ponzi Scheme, it's unsustainable, and it's going to implode. Medicare, Medicaide and now Obamacare will drive deficits to levels that make 17 Trillion seem like a pittance.


    Politicians today only care about tomorrows re-election, and today's voters refuse to accept that it's really up to them to make sure the future doesn't destroy us.
    Do you have anything relevant to add to the discussion? The broken record player tactic might seem clever to some; but i do not know how much closer you can get to desperation.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  2. #112
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    Re: Social Security reserves forecast to run dry in 2022

    Some quality stuff there Cardinal, hopefully a select few will take heed.
    Last edited by Kushinator; 02-19-12 at 03:45 PM.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  3. #113
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by MrVicchio View Post
    Obviously I'm a FOOL! SS a few years ago, we were told wouldn't start running dry till after 2036! I mean, what's 14 years really?
    Can't disagree with the "FOOL" part, as what you are comparing is apples and oranges. 2037 is the projected date of trust fund exhaustion under the very pessimistic assumptions made by the SS Trustees. 2022 is the date at which budgetary outlays would first exceed budgetary receipts. Not only are the concepts different, but the budgetary date would mark the point at which trust fund balances would begin to decline, not the date at which they would be exhausted. Maybe try not to pontificate over things you've read about but don't actually understand.

  4. #114
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by cpwill View Post
    better give up on it. the CBO is also predicting that - on our current path of spending - the economy shuts down in 2027.
    CBO has not predicted, and has not even projected, that the economy will shut down in 2027.

    Quote Originally Posted by cpwill View Post
    yeah. you know what else isn't safe and secure US Treasury bonds? the promissory notes in the Social Security Trust Fund .
    Notes held by the SSTF in fact ARE Treasury bonds in laddered maturities that extend from now into 2026.

  5. #115
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by cpwill View Post
    Either one believes we should put our "entitlement" programs on a path towards long-term stability and dramatically reduce outlays in order to avoid a fiscal collapse, or one believes in fully funding these programs until they destroy the economy. In the 2020's. At which point we become Greece, only much worse because no one can bail us out, and so we are throwing our elderly off the programs all of a sudden and rapidly, to include those who probably lack the means to support themselves without. Which are you?
    This is a stupefyingly ignorant paragraph that is based on utter nonsense and hogwash plus some baseless end-times rant that doesn't even qualify as speculation.

  6. #116
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by Cardinal Fang View Post
    This is a stupefyingly ignorant paragraph that is based on utter nonsense and hogwash plus some baseless end-times rant that doesn't even qualify as speculation.

    Is this pure ad hom personal attack supposed to make us think that you are intellectually superior or something? Because it just makes you look arrogant and pathetic.


    j-mac
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by j-mac View Post
    Is this pure ad hom personal attack supposed to make us think that you are intellectually superior or something? Because it just makes you look arrogant and pathetic.


    j-mac
    Do you enjoy utter nonsense because it is politically aligned to your ideology?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by Catawba View Post
    For those like the author of this thread who are uninformed about the SS trust funds: SS Trust Fund FAQs:
    Oh, my god...ACTUAL FACTS??? What are you bringing THOSE into the discussion for???

  9. #119
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by Kushinator View Post
    Do you enjoy utter nonsense because it is politically aligned to your ideology?
    Ok, which one is the sock pupet? you or Fang?


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  10. #120
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by Cardinal Fang View Post
    Oh, my god...ACTUAL FACTS??? What are you bringing THOSE into the discussion for???
    Wow, you're so independent your far left.....Shocker!


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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