Waiting 20 years means that we inflict more pain on the future elderly. So if benefit cuts are OK with you, let's do it now.
http://fas.org/sgp/crs/misc/RL33514.pdfThe Social Security trust funds are projected to become exhausted in 2033, according to the 2013 Social Security Trustees Report. If Congress does not act before then, the trust funds would be unable to pay full Social Security benefits on time.
That clearly indicates the 2033 date indicates full payment of benefits until the Trust Fund runs dry.
Of course it's not...it's just as conceivable we could experience an economic boom which would make the Trust Fund solvent for an additional 15 years, or it could happen we have a global economic collapse where it can't be paid next year.The 2033 is an outcome in a normal economy. It is not a prediction much less a guarantee.
But we're talking only about what we know. And, based on our current situation, it's not a problem for 20 years.
Who is Dean Baker and why would I read him?You have been reading your Dean Baker again
Umm, that's EXACTLY what you said. Let's take money we promised to people now and not give it to them, that way we can give it to another set of people we promised money (though, they wouldn't get what they are fully promised either)."Why would you cut benefits to save yourself from cutting benefits? THAT'S complete non-sense" You aren't cutting benefits to save yourself benefits.
Like I said, your comment is nonsense. Why take from people now, when we have 20 years to pass a law to preserve for future generations? So ridiculous.
We need to cut the benefits of people today to preserve the system for a completely different set of people.
Why do you not understand the fact we have TWENTY YEARS before we have to worry about paying reduced benefits? The system isn't going anywhere. Even if the Trust Fund runs out tomorrow, those collecting Social Security will STILL get money, just less than they expect.
God, it amazes me how those who cry the world is ending the loudest seem to understand it the least.
Way to completely misunderstand again. I never said benefit cuts are OKAY, I said that even if the Trust Fund runs out, the elderly are STILL going to get money. The idea that Social Security is just going to cease to exist is nonsense and it's the same nonsense I took you to task on the last time you created one of these misleading threads. What I cannot figure out is if you truly don't understand what you're talking about or if you're intentionally trying to push a false narrative about the existence of Social Security. I'd like to think you're intelligent enough to understand how things work, but I'd much rather think you're not creating FUD threads with malicious intent.So if benefit cuts are OK with you, let's do it now.
At the end of the day, you're making statements of untruth. And your recommendation that we cut benefits now is asinine when we have TWENTY YEARS to pass legislation to make it so future generations will get the money promised to them.
I guess the question becomes why are you, someone who has already admitted their ignorance of the subject, so resistant to expertise?
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
"The Trustees do not claim certainty in the future estimates reported under any set of assumptions. The text on page 11 refers to estimates based on the intermediate assumptions; that is, the future scenario the Trustees expect “most likely” to occur. The beginning of Chapter V (page 77) discusses the various sets of deterministic assumptions in more detail. For ease of reading, the report does not qualify each statement about future estimates with words such as “projected” or “under the intermediate assumptions” where we believe the intent is clear.
The figure on page 185 results from a stochastic modeling exercise designed to illustrate the uncertainty associated with the estimates obtained using the intermediate assumptions. As you state, the chart shows that the Trustees expect trust fund reserves to be positive until 2033 with about a 50% probability. Note that as you might expect, this stochastic result is entirely consistent with the result under the deterministic intermediate assumptions."