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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 liblady View Post
    I think the only way ss will go away is if WE let it go away.
    Exactly. What is happening is the fraud of the self fulfilling prophecy taking over - especially in the minds of many younger Americans. They have swallowed this idea that SS will not be there for us. That only plays right into the hands of some politicians who someday will use that as part of the reason to try and deny it to you. They are helping to create the psychology of their own defeat.
    Last edited by haymarket; 02-19-12 at 12:38 PM.
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by Erod View Post
    LOL, geez, what rock are you living under? The constitution says nothing about social security; the money was squandered, not invested; and you can't pay your debts if you're using that money to buy votes.
    No rock. I live in reality. It seems you are the one who lives somewhere else other than that.
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by Chiefgator View Post
    I do not know. Please enlighten me.

    However, how does this matter? No matter what one would have made the most money over the life of the investment has no bearing on the fact that the money that was made was placed in the general fund and spent on many other things.
    The excess revenue which flows into the general fund should always be invested in U.S. government securities. For one, it guarantees a risk free rate of return that is higher than any depository institution is capable of matching given the sheer quantity involved in the said trust fund. Secondly, unless the Treasury is unable to meet its obligations to the SS Fund, there is no reason to be worried about SS solvency.
    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 haymarket View Post
    Exactly. What is happening is the fraud of the self fulfilling prophecy taking over - especially in the minds of many younger Americans. They have swallowed this idea that SS will not be there for us. That only plays right into the hands of some politicians who someday will use that as part of the reason to try and deny it to you. They are helping to create the psychology of their own defeat.
    That's exactly what I meant, thanks.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by Kushinator View Post
    The excess revenue which flows into the general fund should always be invested in U.S. government securities. For one, it guarantees a risk free rate of return that is higher than any depository institution is capable of matching given the sheer quantity involved in the said trust fund. Secondly, unless the Treasury is unable to meet its obligations to the SS Fund, there is no reason to be worried about SS solvency.
    And IF the Treasury is unable to meet its obligations, all bets are off anyway.

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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by AdamT View Post
    And IF the Treasury is unable to meet its obligations, all bets are off anyway.
    Exactly. IMO, if such an event is to take place, it is the beginning of WWIII.
    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 Chiefgator View Post
    J-Mac, SS was not set up as a Ponzi scheme. In its original design, it works just fine.
    SS was set up as people paying into a fund that pays out to those collecting. IOW, it isn't your money that you paid in that you are getting, it is someone elses money that they are funding the program today, that pays you.

    Here is the definition of a 'ponzi' scheme...

    A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors.

    "Ponzi" Schemes
    How is it fundementally different?

    The billions of dollars collected over the years, thru the principle of compound interest, would be sufficient to fund it forever.
    And why should the government benefit from compound interest on my money, and not me?

    Basically the payments would all be Capital Gains.
    Wouldn't Capital Gains infer that I make money over and above my initial investment?

    However, over the years, the fund has been raided by every politician imaginable. Clinton and Newt were the worst with their paper "surplus". If the benefits had only been taken frm dividends and other programs kept their hands out of the cookie jar, we would not be facing the collapse that is staring us in the face.
    Yep. Politicans have consistantly raided those funds, and included them in the General Fund to pay for out of control entitlement programs. So, I say, let me invest my own money.

    The sad thing is that off this had been done in the private sector, the responsible parties that stole money from the retirement fund would all be in jail....
    Absolutely. And welcome to the forum BTW.


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    Re: Social Security reserves forecast to run dry in 2022

    ok, So what happens when the money that is coming in cannot maintain the outflow? My point is that if less went into the general fund, then that circumstance would never happen.

    Or am I missing something?
    As a dreamer of dreams and a travellin' man, I have chalked up many a mile.
    Read dozens of books about heroes and crooks and I've learned much from both of their styles!

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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by Chiefgator View Post
    ok, So what happens when the money that is coming in cannot maintain the outflow? My point is that if less went into the general fund, then that circumstance would never happen.

    Or am I missing something?

    No I think you have it. In fact I would be happy if they did away with it and gave my money back to me so that I could invest it myself.


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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by liblady View Post
    That's exactly what I meant, thanks.
    Great minds think alike.
    __________________________________________________ _
    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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