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Thread: The results are in on social security

  1. #11
    Educating the Ignorant
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    Re: The results are in on social security

    Let's see... When it started the recipients paid nothing.
    In 1950 there were 16 people paying for every recipient.
    Today it is 3.
    Baby Boomers started retiring this year.

    This is a Ponzi/Madoff Scheme that is going to go bust.

    This system looks to be in good shape even beyond 2012. Unfortunately, in 2016, it will start to deteriorate. At that time, the program’s expenses will begin to exceed its revenues. One cause of this is the aging of the “Baby Boomer” population, in which a great many retirees will become eligible for benefits at the same time. This generation is also expected to live longer than previous ones, resulting in the need for continued benefits.

    Will Social Security Really Fail after 2012? Part 1 - S. Kay Dansby Social Security Disability Law Blog on Lawyers.com
    Reality is a pisser.
    Welcome to reality.

    I hope you aren't banking on government to be there for you. If so... get used to asking... paper or plastic?

    Haymarket... are you a "progressive"?

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    Last edited by zimmer; 06-01-11 at 06:44 PM.
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

  2. #12
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    Re: The results are in on social security

    Quote Originally Posted by Whovian View Post
    so, since it'll be 25 years before it fails utterly... let's just wait until then to do anything about it.

    Right Dems/Libs???
    No, but let's not panic and leap off any ledges either.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  3. #13
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    Re: The results are in on social security

    Quote Originally Posted by Boo Radley View Post
    No, but let's not panic and leap off any ledges either.
    Are cliffs OK?

    http://www.debatepolitics.com/breaki...off-cliff.html

    .
    Last edited by zimmer; 06-01-11 at 08:43 PM.
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

  4. #14
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    Re: The results are in on social security

    Zimmer asks

    Haymarket... are you a "progressive"?
    Questions such as that have long ago been answered.



    "I am, have been, and will be only one thing - an American."
    - Charles Foster Kane
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    Re: The results are in on social security

    Quote Originally Posted by Whovian View Post
    so, since it'll be 25 years before it fails utterly... let's just wait until then to do anything about it.

    Right Dems/Libs???
    Just raise the limit, that's what President Reagan did in 1983.


  6. #16
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    Re: The results are in on social security

    Quote Originally Posted by donc View Post
    Kinda looks like all the doom and gloom was for naught as for as Social Security was concerned.

    THE RESULTS ARE IN ON SOCIAL SECURITY

    Do you ever worry that Social Security might not be there for you when you need it? On May 13, the Trustees of the Social Security Trust Fund released their annual report that affirmatively answers that question: yes, Social Security is alive and well. Below you will find some highlights from the Trustee’s report and important facts about Social Security:

    Amount of annual surplus in 2011: $69 billion

    Projected Trust Fund Balance for 2011: $2.7 trillion

    Number of years Social Security is projected to be able to pay full benefits, without any shortfall: 25 years

    Cost of administering Social Security as percentage of total expenditures: 0.9%

    Average monthly Social Security benefit received by retired Americans: $1,164

    Drop in value of private retirement accounts during the Great Recession: $2.8 trillion

    Drop in value of Social Security benefits during the Great Recession: $0

    Number of recessions Social Security has weathered without failing to pay benefits: 13

    Number of times Social Security has failed to pay an earned benefit: 0

    In response to the Trustee’s report Rep. Becerra, the highest ranking Democrat on the Ways and Means Subcommittee on Social Security, said: “Today’s report confirms what we already know: Social Security will weather the storm once again. You simply can’t buy the kind of retirement, disability and life-insurance protection on the private market that Social Security provides.”

    The Becerra Bulletin, May 2011
    No - I don't worry that it won't be there when "I need it"

    I know it won't be there "when I need it"

    So I'm making alternative plans and arrangements.
    A screaming comes across the sky.
    It has happened before, but there is nothing to compare it to now.
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    Re: The results are in on social security

    Quote Originally Posted by donc View Post
    Number of years Social Security is projected to be able to pay full benefits, without any shortfall: 25 years
    Great. I'm ****ed.

  8. #18
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    Re: The results are in on social security

    Quote Originally Posted by Tucker Case View Post
    Great. I'm ****ed.
    Live hard - die young - circumvent this problem before it starts!

    Sex on the rocks all night. . . sounds good to me.
    A screaming comes across the sky.
    It has happened before, but there is nothing to compare it to now.
    Pynchon - Gravity's Rainbow

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    Re: The results are in on social security

    Quote Originally Posted by Aunt Spiker View Post
    Sex on the rocks all night. . . sounds good to me.
    Lemme go ask my wife if I can go out.

  10. #20
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    Re: The results are in on social security

    Quote Originally Posted by donc View Post
    Kinda looks like all the doom and gloom was for naught as for as Social Security was concerned.

    THE RESULTS ARE IN ON SOCIAL SECURITY


    Amount of annual surplus in 2011: $69 billion

    Projected Trust Fund Balance for 2011: $2.7 trillion
    Can we see the money please? What? There *is* no money? IOUs? Aha. So it is a Ponzi scheme after all? Darn.

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