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Thread: Social Security reserves forecast to run dry in 2022

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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by randel View Post
    i believe we should remove the cap, and increase the individual contribution.....i'm ok with paying for something i believe to be worthwhile.
    I say remove the obligation, let people maintain their own retirement accounts. Leave a government option for people who want it.
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by haymarket View Post
    So you do not believe in enforcing the Constitution regarding full fath and credit of the government of the United States of America.

    You say "we aren't" in reply to my second question Either one believes in honoring the promises made to the citizens of the nation who fulfill their end of the bargain or one does not. Which are you?


    What do you mean that we aren't? Who is not? I have dutifully paid into SS as instructed and mandated for the last five decades.
    I am sorry that you have paid for 5 decdes. You will probably see SS. For me, the chances are I won't, as mentioned in the article.

    Your first question was, "Either one believes in the full faith and credit of the United States or one does not. Which are you?" Not do I believe in enforcing the constitution. You are twisting my words. I don't believe that our credit will be maintained if we continue to dilute our finances. We have been downgraded in our debt. We have come very close in the last 2 years to not meeting our obligations. We are very thin. I don't believe we can maintain our current position and maintain our credit. Good for you that you are retired or retiring soon, but this will not be here for me.

    Your second question is, "Either one believes in honoring the promises made to the citizens of the nation who fulfill their end of the bargain or one does not. Which are you?" We aren't. I am not going to see the same social security benefits as my parents or you. So the promise is not honored. There won't be money there. As I mentioned, you paid in, and that is great. I am paying as well, and the government will not keep their promise. I know they are in over their heads with this program. I have said for a long time, take what we have left, figure out how many generations it can support. Make the cut off there. For the rest of us, Social Security is a just another tax.

    Question 3, "Either one believes that money and revenues should first go to existing and long standing obligations before new ones are taken on or one does not. Which are you?" They should...but do they? Our government is still expanding and they know that this program doesn't have the financial support to maintain.

    The SS program needs a major overhaul, people are going to have to sacrafice. C'est la gare.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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    Re: Social Security reserves forecast to run dry in 2022

    They will make adjustments to shore up Social Security. Medicare is the one to worry about.

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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by AdamT View Post
    They will make adjustments to shore up Social Security. Medicare is the one to worry about.
    With many trillions of dollars in debt, and growing by the day, all social programs are in jeopardy. It is foolhardy in the extreme to think they can continue because no will will lend the money anymore. It is whistling in the dark.

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    Re: Social Security reserves forecast to run dry in 2022

    Blue State

    thank you for your answers and the detailed explaination of each. Allow me to say that much of what you wrote sounds a great deal like you are operating under a cloud of pessimism. You seem to believe that the system cannot be sustained, will not be repaired and will thus not be able to meet its obligations to you or your generation. I hope that is not a distortion of your views but an accurate summary of them.

    I beleive the worst thing we as a people can do is engage in this sort of pessimism which will then become a self fulfilling prophecy of sorts. I believe the federal government knows and knows well the wrath that would come down upon them if they dare not honor their obligations regarding social security. But, if they can move along the belief, especially among younger Americans, that things are as you portray them, it will make it easier for them to someday take those sort of actions ending the program. The feeling in the citizenry or in the atmoshpere that "it just won't be there for us" only serves the interests of those who want to kill the program and betray the terms of the deal.

    I would urge you to reject such pessimism and not fall victim to the self fulfilling prophecy. Instead, work as people have several times in the past to get the system supported so that it can be a solid one and can honor the governments committments to the American worker.
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by Grant View Post
    With many trillions of dollars in debt, and growing by the day, all social programs are in jeopardy. It is foolhardy in the extreme to think they can continue because no will will lend the money anymore. It is whistling in the dark.
    The programs need to be adjustd and reformed, and require additional revenue to support them. But there is absolutely no indication that people are less inclined to lend the U.S. money. In fact, demand for U.S. debt has never been higher despite the fact that we are paying practically no interest.

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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by MrVicchio View Post
    Social Security reserves forecast to run dry in 2022 - Washington Times

    SS on the brink, we were told 2030 something, it's a long way off, plenty of time to get it right...

    No, it's a lot closer then you think. 2022is a mere 10 years off. It's time to end the fail, before it ends us.
    Not to worry, as long as we maintain $4T annual budgets, there will always be plenty of money.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by MaggieD View Post
    Then, my dear, where is the hue and cry about the latest Congressional gut of the program?? They've cut the employee contribution to SS by 33%. And nobody gives a **** 'cause it's money in their pockets. Hypocrites.
    Hey, I've been against the payroll tax because it guts SS from the beginning. But people are short sighted and most... probably believe it will "fix itself somehow"
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by haymarket View Post
    Blue State

    thank you for your answers and the detailed explaination of each. Allow me to say that much of what you wrote sounds a great deal like you are operating under a cloud of pessimism. You seem to believe that the system cannot be sustained, will not be repaired and will thus not be able to meet its obligations to you or your generation. I hope that is not a distortion of your views but an accurate summary of them.

    I beleive the worst thing we as a people can do is engage in this sort of pessimism which will then become a self fulfilling prophecy of sorts. I believe the federal government knows and knows well the wrath that would come down upon them if they dare not honor their obligations regarding social security. But, if they can move along the belief, especially among younger Americans, that things are as you portray them, it will make it easier for them to someday take those sort of actions ending the program. The feeling in the citizenry or in the atmoshpere that "it just won't be there for us" only serves the interests of those who want to kill the program and betray the terms of the deal.

    I would urge you to reject such pessimism and not fall victim to the self fulfilling prophecy. Instead, work as hey have.

    With thee tople have several times in the past to get the system supported so that it can be a solid one and can honor the governments committments to the American worker.
    You appear to assume that future politicians will be interested in keeping the promises made by past and present politicians when they have no personal responsibility to do so. They will be forced to work with what they have.

    The debt and demographics outline what the future holds and there is little likelihood of a turnaround, especially when voters continue to vote for more of the same.

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    Re: Social Security reserves forecast to run dry in 2022

    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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