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Thread: Social Security Payouts Are Already Crippling The Government This Year

  1. #71
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    Re: Social Security Payouts Are Already Crippling The Government This Year

    Quote Originally Posted by FilmFestGuy View Post
    If you don't understand, then you need to study some macroeconomics.

    If SS was in Al Gore's magical "lock-box", then giving it back would have no impact on the dollar. But it's part of the gov't's budget; thus it would be nothing more than another liquidation. It's printing more money. If you gave every SS dollar back to everyone owed, it would be SOOOOO much money that it would completely devalue the dollar. If you think the bailout was a disaster, your plan would make the bailout look like "brother can you spare a dime".
    Well, I don't view "elimination" as meaning "giving back everyone all the money they have put in", that would be impossible. If that actually did happen, I agree, it would involve a lot of money being printed and would not be positive for the economy.

    I view elimination as ceasing future payments, and basically being forced to forfeit what has already been put in.

  2. #72
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    Re: Social Security Payouts Are Already Crippling The Government This Year

    Quote Originally Posted by NolaMan View Post
    Social Security already offers a negative return rate (once I factor in inflation), why on Earth would I want to give my kids and grandkids an investment that losses them money? I would much rather help them set up a retirement savings account that can at least earn a positive return for them.
    You'd better make sure that they cannot access said savings account except to make deposits. Young people tend to have different ideas about money than older folks.
    Quote Originally Posted by Northern Light View Post
    The systems that ensure freedom and liberty are breaking down and fundamentalism is growing. Nobody is righteous anymore.


  3. #73
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    Re: Social Security Payouts Are Already Crippling The Government This Year

    I tell all the younger people I know to borrow only for a house, and to pay that way down as soon as possible, and to have savings on hand to pay it off if they have to. Where there is no mortgage, or car payment, or credit card payments, there is no chance to lose what you have.

    What I see a lot is that people use the equity in their homes like a back hoe, as a tool to dig a deeper hole than they could otherwise. They live on both incomes and borrow more to live better than they need to. Then one of them loses a job, and they find themselves at the bottom of a very deep hole and their creditors are not helping. What a surprise!!

    Creditors are NOT your friends.....
    Oracle of Utah
    Truth rings hollow in empty heads.

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