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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

    Quote Originally Posted by Samhain View Post
    Its not my contention, its basic economics. Please read up on potential GDP and its impact. The CBO and FRED have lots of documents and graphs pertaining to the subject.
    It is your contention and you seem powerless to explain it when questioned.
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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by JoeTheEconomist View Post
    The $2.8 trillion Social Security Trust Fund is on track to be totally spent by 2030, the Congressional Budget Office : http://www.cbo.gov/sites/default/fil...-QFR_Hatch.pdf

    That's a decade earlier than the CBO estimated as recently as 2011.

    Social Security To Go Bust By 2030 Thanks Partly to ObamaCare: CBO - Investors.com



    Well, it's still 16 years from now.

    By then I'd be 87 years old , maybe I'll be dead and buried and won't have to worry about it.

    I guess I'll just wait and see what happens.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by haymarket View Post
    It is your contention and you seem powerless to explain it when questioned.
    Clearly I'm having a hard time bringing it down to your level, so lets try this.

    Which is the better situation:

    I can spend between 0 and 4 dollars this year.

    I can spend between 0 and 2 dollars this year.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by Samhain View Post
    Clearly I'm having a hard time bringing it down to your level, so lets try this.

    Which is the better situation:

    I can spend between 0 and 4 dollars this year.

    I can spend between 0 and 2 dollars this year.
    ALl you need to do is spare the personal insults, quit trying to move the goal posts, and provide evidence of what I asked for - namely proof you your claim that extending the FICA tax to the remaining 7% of earners on all their earnings the way it is for the other 93% of earners would somehow damage the economy. You stated that the money would be taken out of the economy because it would not be spent. I stated you might be wrong because one would have to show that money would have to be spent in the economy in the first place. And you have not yet done that.
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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by haymarket View Post
    ALl you need to do is spare the personal insults, quit trying to move the goal posts, and provide evidence of what I asked for - namely proof you your claim that extending the FICA tax to the remaining 7% of earners on all their earnings the way it is for the other 93% of earners would somehow damage the economy. You stated that the money would be taken out of the economy because it would not be spent. I stated you might be wrong because one would have to show that money would have to be spent in the economy in the first place. And you have not yet done that.
    And I've already directed you to read about potential GDP and its effect on the economy, but you refuse to do so. Not sure how else the concept can be explained when you cover your eyes and ears. You might as well just state that you believe potential GDP is a worthless economic concept.
    Last edited by Samhain; 07-28-14 at 03:16 PM.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by shrubnose View Post
    Well, it's still 16 years from now.

    By then I'd be 87 years old , maybe I'll be dead and buried and won't have to worry about it.

    I guess I'll just wait and see what happens.
    What you are saying is that self-interest determines your worry. I would suggest that is a dangerous precedent because if younger workers vote like you do, then the system is toast. The polling data that I see suggests that self-interest is what dominates this issue. Five years ago, people had no interest in worrying about the system. They largely would be dead before any crisis emerged in the system. Now it is between 50-60% of the public that expects to retire after the Trust Fund is exhausted. So what is their self-interest.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by Samhain View Post
    And I've already directed you to read about potential GDP and its effect on the economy, but you refuse to do so. Not sure how else the concept can be explained when you cover your eyes and ears. You might as well just state that you believe potential GDP is a worthless economic concept.
    All you are doing is repeating a line you have heard, believed and swallowed as gospel because it agrees with your own preconceived beliefs. You are unable to explain it nor are you able to answer my questions about it.

    This speaks volumes about your convictions (or lack of them) as well as your inability to actually engage in debate beyond stating a position.

    You have nothing except your own beliefs which result in you giving lip service to something you cannot even explain.
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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by haymarket View Post
    All you are doing is repeating a line you have heard, believed and swallowed as gospel because it agrees with your own preconceived beliefs. You are unable to explain it nor are you able to answer my questions about it.

    This speaks volumes about your convictions (or lack of them) as well as your inability to actually engage in debate beyond stating a position.

    You have nothing except your own beliefs which result in you giving lip service to something you cannot even explain.
    You just described yourself.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by Samhain View Post
    You just described yourself.
    As expected, you still are impotent to explain your own position. I explained mine - and you had no questions about it other than your ideological objection which I took apart with a simple request that you were unable to answer.
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    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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