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Thread: Social Security To Go Bust By 2030: CBO

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    Re: Social Security To Go Bust By 2030: CBO

    With the banks loaning money at low rates of 3-5% what's to stop entities with high levels of assets and credit from borrowing in order to make a higher return rate on investing?

    As long as your investment increases at a rate that is higher than your borrowing costs, you can make money.

    Many Hedge Funds have steady high profits like Soros Fund Management generated more than 22% or Tepper at 42% and Recovery Fund posted net returns of 63%, Paulson Enhanced funds returned 33% and the Advantage funds generated net returns north of 26%. These guys are making money hand over fist.

    Though, Social Security won't be able to give poor old people who paid into the system all their careers enough to live in poverty, while the Stock Market keeps raking in hundreds of billions. Something's wrong with that picture.
    Einstein, "science without religion is lame, religion without science is blind."

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by mtm1963 View Post
    62.8% of the population is working.

    Bureau of Labor Statistics Data
    Interesting chart,

    We now have according to your chart 62.8% working. However if you look at your chart going back to January of 2009 it was 65.7%. Which means under Obama from the day he took office the percentage of employed has dropped by 3%. Meaning no recover under Obama, just more lost jobs. In fact according to your chart the % employed had dropped each and every month under Obama from the date he took office. Am I reading this chart wrong?
    Liberals - Punish the Successful, Reward the Unsuccessful
    Liberals - Tax, Borrow, Spend, and Give Free Stuff
    Obama's legacy - President Donald Trump

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by KokomoJojo View Post
    the corresponding inflation kills the elders however.
    What is better deflation or inflation?
    Liberals - Punish the Successful, Reward the Unsuccessful
    Liberals - Tax, Borrow, Spend, and Give Free Stuff
    Obama's legacy - President Donald Trump

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by rabbitcaebannog View Post
    Yeah, I lack faith in politicians too, but what exactly do you mean by voters willingness to do what is in the best interest of others?
    Social Security is a societal benefit. The terms are clear: you give today and someone might do the same in the future. I just saw a poll, and 73% of people 18-29 would replace Social Security with an optional personal account. 49% would replace it even if it meant that seniors would need to accept a benefit cut. These are the people on whom Social Security depends, and about 1/2 say forget the retirees we will just take the personal benefit. I understand where they are coming from. I think that many will be surprised that someone might not do the same.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by tres borrachos View Post
    Of course SS is going to go bust. If you're a 22 year old woman who dies giving birth to a baby, and you've paid into SS a whopping 1 year, that child is entitled to your SS until it reaches 18, or stays a full time student until 22. That child will get substantially more out of SS than you ever paid in.

    I always look at that thing I get from SSA in the mail that tells me what I will get out of SS at ages x and y, etc. I calculate what I will get in total if I live to me 85. I know what I've been paying into it since I was 22. I'll get my entire contribution back long long long before I die.
    The statistical likelihood of a 21 female year old dying is .... 0.0431% about 4 in 10,000

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by Lord of Planar View Post
    It won't go bust. It still has those trillions in IOU's to use up first.
    Please tell me you don't vote. You are part of the statistics. In 1988, 49% of people had confidence that Social Security would be there for them. Now it is roughly 54%. In 1988, the solvency of Social Security was projected to be 60 years. Now it is 16. Do you think that some people are in denial. It isn't the vacation spot that people tell you it is.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by JoeTheEconomist View Post
    Please tell me you don't vote. You are part of the statistics. In 1988, 49% of people had confidence that Social Security would be there for them. Now it is roughly 54%. In 1988, the solvency of Social Security was projected to be 60 years. Now it is 16. Do you think that some people are in denial. It isn't the vacation spot that people tell you it is.
    I do understand the reality. US bonds are suppose to be a solid investment. Are you saying they aren't?

    It doesn't matter when the bonds get all cashed in. SS will then run a deficit. The government will have to come up with the extra from tax payers.

    I don't like it, but it's the reality.

    The left always fights the option to allow people to put their SS deduction into personal accounts instead, so don't look at me.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by JoeTheEconomist View Post
    Social Security is a societal benefit. The terms are clear: you give today and someone might do the same in the future. I just saw a poll, and 73% of people 18-29 would replace Social Security with an optional personal account. 49% would replace it even if it meant that seniors would need to accept a benefit cut. These are the people on whom Social Security depends, and about 1/2 say forget the retirees we will just take the personal benefit. I understand where they are coming from. I think that many will be surprised that someone might not do the same.
    This demonstrates these people are not wanting to do what is in the best interest of themselves. Personal accounts in other countries have not shown to do well. Also, why should seniors deserve a benefit cut? Not only did those people 20 years ago pay into the system for others (current retirees) but also were told they were paying toward a savings for themselves. Are you suggesting that was a lie by Reagan and Greenspan?

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by Born Free View Post
    What is better deflation or inflation?
    a balanced economic system.

    the present system did not get rid of deflation.

    it did help to maintain liquidity but in the worst possibly way for "the people" meanwhile the banking cartels make huge profits in either direction.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by rabbitcaebannog View Post
    This demonstrates these people are not wanting to do what is in the best interest of themselves. Personal accounts in other countries have not shown to do well. Also, why should seniors deserve a benefit cut? Not only did those people 20 years ago pay into the system for others (current retirees) but also were told they were paying toward a savings for themselves. Are you suggesting that was a lie by Reagan and Greenspan?
    anyone approaching 80 with sound mind will tell you that the government sold it to the people as an "insurance policy", despite when you read the actual legalese it is nothing of the sort.

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