• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Official: Obama Proposes Cuts to Social Security

mtm1963 said:
it will not be able to pay promised benefits in the future if the current setup stays in place.
Click to expand...

Under the current set up, SS is solvent for the next 26 years.
 
cpwill said:
That is not correct. The dollar bills in my pocket can legally be traded for things. The "Special Promissory Notes" in the SS Fund cannot.

If your checking account deposits a "I promise to pay you in the future" note in your savings account, your net worth has not increased - because you have not added any wealth. Nor does the "Trust Fund" currently count as wealth - it is simply an annotation that future Congresses will magically figure out a way to tax or borrow enough to pay out what past Congresses have promised.
Click to expand...
Did I say "useful" or "valid"? Valid as in T-bills and dollar bills are both backed by the US Treasury. If you think one is worthless (unbacked) then both are worthless.
 
American said:
When no one else is getting COLAs, why do seniors get them?
Click to expand...
They didn't get increases for two (3?) years because the COLAs were negative numbers.
 
azgreg said:
Then what?
Click to expand...

Before then, when we have voted in a congress capable of representing the majority of people, we will have to follow the Simpson-Bowles plan for fixing SS for the long term - raise retirement age to 68 over the next ten years, change the way COLA is computed, and raise the cap on contributions from the wealthy. That makes SS sustainable for the long term.
 
Catawba said:
Before then, when we have voted in a congress capable of representing the majority of people, we will have to follow the Simpson-Bowles plan for fixing SS for the long term - raise retirement age to 68 over the next ten years, change the way COLA is computed, and raise the cap on contributions from the wealthy. That makes SS sustainable for the long term.
Click to expand...

Well I don't have any faith in either party to do anything about it until the time to kick the can down the road is 5 years in the rear view mirror.
 
azgreg said:
Well I don't have any faith in either party to do anything about it until the time to kick the can down the road is 5 years in the rear view mirror.
Click to expand...

What's your plan then?
 
Contained growth isn't really a cut. Just scaring old folks again as if they are not jittery enough.
 
azgreg said:
I think it's time to start rolling back the retirement age.
Click to expand...

That alone won't fix the problem and seniors will never put people in office that will do that. And the GOP can't win elections without the senior vote.

What else you got?
 
Catawba said:
That alone won't fix the problem and seniors will never put people in office that will do that. And the GOP can't win elections without the senior vote.

What else you got?
Click to expand...

There's always means testing and I'm not against raising the cap. What do you got?
 
azgreg said:
There's always means testing and I'm not against raising the cap. What do you got?
Click to expand...

I believe the Simpson-Bowles fix for SS is the best plan. And I believe Congress will reach a compromise on it this summer, or we will elect a new congress over the next couple elections to get it done.
 
MoSurveyor said:
Did I say "useful" or "valid"? Valid as in T-bills and dollar bills are both backed by the US Treasury. If you think one is worthless (unbacked) then both are worthless.
Click to expand...

The special promissory notes in the SS Trust Fund are neither T-Bills nor Dollars, both of which (and, this is important) can be traded, and yes, they are generally worthless. Because they have no worth. Their "worth" their "value" their "ability to be traded for goods or services" is "zero". "Zero" being "nothing" the "worth" of the SPN is "Nothing" making it "worthless." My Dollar isn't worthless because I can trade it for food. My T-Bills are not worthless because I can trade it for dollars, which I can trade for food. SS Special Promissory Notes not so much.

hope that helps :)
 
cpwill said:
hope that helps :)
Click to expand...
Not at all since only the SSA can hold them. Do you think the Fed is not responsible for it's obligations?


You'll have to cite a good, reliable source as to their supposedly non-existent value.
 
Last edited:
You must log in or register to reply here.
Back
Top Bottom