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Thread: The results are in on social security

  1. #351
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    Re: The results are in on social security

    Quote Originally Posted by donc View Post
    When did we have any excess money in the last ten years?
    Social Security expenditures exceeded the program’s non-interest income in 2010 for the first time since 1983. The $49 billion deficit last year (excluding interest income) and $46 billion projected deficit in 2011 are in large part due to the weakened economy and to downward income adjustments that correct for excess payroll tax revenue credited to the trust funds in earlier years. This deficit is expected to shrink to about $20 billion for years 2012-2014 as the economy strengthens. After 2014, cash deficits are expected to grow rapidly as the number of beneficiaries continues to grow at a substantially faster rate than the number of covered workers. Through 2022, the annual cash deficits will be made up by redeeming trust fund assets from the General Fund of the Treasury. Because these redemptions will be less than interest earnings, trust fund balances will continue to grow. After 2022, trust fund assets will be redeemed in amounts that exceed interest earnings until trust fund reserves are exhausted in 2036, one year earlier than was projected last year. Thereafter, tax income would be sufficient to pay only about three-quarters of scheduled benefits through 2085.
    ”People willing to trade their freedom for temporary security deserve neither and will lose both.” --- Ben Franklin

    Quote Originally Posted by The German View Post
    Sterotypes are mostly based on truths.

  2. #352
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    Re: The results are in on social security

    Quote Originally Posted by Catawba View Post
    It certainly does corroborate the 2009 military funding figures included on the site. You were intimating the budgeted amount for military was all we had to cut from. This has been disproved by the multiple sources I have cited.
    Not one of those quotes indicates in any way that the government is taking SS money to pay for the wars. Further, the money spent on the wars are funded through the annual budget and supplemental appropriation bills. All trackable using legitimate sources. Source that don't where tinfoil hats, I might add....
    ”People willing to trade their freedom for temporary security deserve neither and will lose both.” --- Ben Franklin

    Quote Originally Posted by The German View Post
    Sterotypes are mostly based on truths.

  3. #353
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    Re: The results are in on social security

    Quote Originally Posted by mac View Post
    Social Security expenditures exceeded the program’s non-interest income in 2010 for the first time since 1983. The $49 billion deficit last year (excluding interest income) and $46 billion projected deficit in 2011 are in large part due to the weakened economy and to downward income adjustments that correct for excess payroll tax revenue credited to the trust funds in earlier years. This deficit is expected to shrink to about $20 billion for years 2012-2014 as the economy strengthens. After 2014, cash deficits are expected to grow rapidly as the number of beneficiaries continues to grow at a substantially faster rate than the number of covered workers. Through 2022, the annual cash deficits will be made up by redeeming trust fund assets from the General Fund of the Treasury. Because these redemptions will be less than interest earnings, trust fund balances will continue to grow. After 2022, trust fund assets will be redeemed in amounts that exceed interest earnings until trust fund reserves are exhausted in 2036, one year earlier than was projected last year. Thereafter, tax income would be sufficient to pay only about three-quarters of scheduled benefits through 2085.

    If I wanted a peak at “A SUMMARY OF THE 2011 ANNUAL REPORTS
    Social Security and Medicare Boards of Trustees”
    I would have goggled it myself instead of reading your cut and paste.

    My question was…” When did we have any excess money in the last ten years? “
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

  4. #354
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    Re: The results are in on social security

    Quote Originally Posted by donc View Post
    If I wanted a peak at “A SUMMARY OF THE 2011 ANNUAL REPORTS
    Social Security and Medicare Boards of Trustees”
    I would have goggled it myself instead of reading your cut and paste.

    My question was…” When did we have any excess money in the last ten years? “
    Forgot to post the link, my bad. To answer your question, in the last 10 years we had excess money from 2001-2010.
    ”People willing to trade their freedom for temporary security deserve neither and will lose both.” --- Ben Franklin

    Quote Originally Posted by The German View Post
    Sterotypes are mostly based on truths.

  5. #355
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    Re: The results are in on social security

    Quote Originally Posted by mac View Post
    Forgot to post the link, my bad. To answer your question, in the last 10 years we had excess money from 2001-2010.
    In Post #346 you said this
    “Excess money is given to the Treasury in return for securities.”
    That brings us up to your unattributed goggle post #351. which didn’t answer ****.

    Now hop on your goggle horse and see if you can come up with an answer to my question.” When did we have any excess money in the last ten years? “


    I’ll give you a clue, the last time we had excess money was during a Presidency that was stuck between two Presidents name George.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

  6. #356
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    Re: The results are in on social security

    Quote Originally Posted by donc View Post
    In Post #346 you said this

    That brings us up to your unattributed goggle post #351. which didn’t answer ****.

    Now hop on your goggle horse and see if you can come up with an answer to my question.” When did we have any excess money in the last ten years? “


    I’ll give you a clue, the last time we had excess money was during a Presidency that was stuck between two Presidents name George.
    You attributed my post for me, and the if you are talking about excess money in terms of the federal budget than you are talking about a different thing. I'm talking about SS. Social security is funded by FICA, and 2010 was the first time social security paid out more than it brought in since 1985.

    Now hop on your horse and go get some manners...and a clue.
    ”People willing to trade their freedom for temporary security deserve neither and will lose both.” --- Ben Franklin

    Quote Originally Posted by The German View Post
    Sterotypes are mostly based on truths.

  7. #357
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    Re: The results are in on social security

    Quote Originally Posted by mac View Post
    You attributed my post for me, and the if you are talking about excess money in terms of the federal budget than you are talking about a different thing. I'm talking about SS. Social security is funded by FICA, and 2010 was the first time social security paid out more than it brought in since 1985.

    Now hop on your horse and go get some manners...and a clue.
    Nah,i like to see you dance.The last time we had someone with your steps his name was Stinger
    Last edited by Donc; 07-26-11 at 09:10 PM.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

  8. #358
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    Re: The results are in on social security

    Quote Originally Posted by mac View Post
    Not one of those quotes indicates in any way that the government is taking SS money to pay for the wars. Further, the money spent on the wars are funded through the annual budget and supplemental appropriation bills. All trackable using legitimate sources. Source that don't where tinfoil hats, I might add....
    Please tell me from what source the unbudgeted supplemental appropriations bills are funded?
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: The results are in on social security

    Quote Originally Posted by Catawba View Post
    Oh you preferred the "sanity" of the guy who lied about the reasons for taking the country to war in Iraq, with the SS money we didn't lock.

    Aren't you the clever one!
    How did I know you were going to say that LOL. It's the standard bumper sticker DNC lib talking point thats why. Geeez you guys are so predictable.

  10. #360
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    Re: The results are in on social security

    Quote Originally Posted by Catawba View Post
    Please tell me from what source the unbudgeted supplemental appropriations bills are funded?
    I read a few and they don't specify where the funds come from, guess it's anyone's guess....like your warresitors.org guess.
    ”People willing to trade their freedom for temporary security deserve neither and will lose both.” --- Ben Franklin

    Quote Originally Posted by The German View Post
    Sterotypes are mostly based on truths.

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