Social Security to run out in 17 years

[ultramanhyata]

SS has been running out in 17 years for the last 70 years

SS about to go bust and Jesus returning soon. It's called growing up in America.

 

[punkmother]

You know, I'd be more worried, but one of my neighbors in my youth, a very nice man who is a non-denominational pastor for a small church, was also a SS# alarmist, and actually drove around a van with messages written in huge, bold letters that he changed all the time.

I'm pretty sure I remember reading that it was going to run out in under 25 years over two decades ago, so as a consequence I'm slightly less alarmed when I see headlines like this, these days, as an adult.

yep. fake news.

 

[rj144]

We still get 77%... the whole thing is misleading.

 

[rj144]

Looks like I'm fucked. Good to know I paid out the fucking wazoo in taxes so worthless dyrelicts can take what I worked my ass off for

You're still getting 77% of it.

 

[Starman]

Er, because it's paid out with the surplus invested in bonds.

You obviously still didn't read any of the links I provided you.

As I previously stated, the money isn't there. The federal government has raided social security on numerous occasions to fund other entitlement programs.

This is why when Congress was having that huge battle in 2011 over raising the debt ceiling, President Obama said this about social security: "I cannot guarantee that those checks go out on August 3 if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it."

What Happened to the $2.6 Trillion Social Security Trust Fund?
https://www.forbes.com/sites/merril...lion-social-security-trust-fund/#71b912e34947

What About the Trust Fund?
https://www.wsj.com/articles/SB10001424052702304521304576446250270069780

House Budget Robs Social Security for Welfare Payments
http://www.breitbart.com/big-govern...budget-robs-social-security-welfare-payments/

Government Owes $2.7 Trillion to Social Security
https://www.fedsmith.com/2013/05/23/government-owes-2-7-trillion-to-social-security/

 

[Starman]

It's like you are a liberal Ben Shapiro on here

To be compared to Ben Shapiro would actually require some command of the facts on his part. Accusing me of being emotional is laughable. I guess the lack of capital letters, exclamation marks, and profanity really gave it away. I should really get my emotions under control.

I reckon Sherdog has never witnessed such an emotional outburst before. I shall endeavor to do better.

 

[Jack V Savage]

As I previously stated, the money isn't there. The federal government has raided social security on numerous occasions to fund other entitlement programs.

I already explained that that makes no sense and depends on you not understanding what bonds are. When you invest in bonds, that means you pay money upfront and receive an obligation to pay in return. That future obligation cannot be "raided" to fund other programs.

It appears that you think that the surplus is supposed to be held in cash (which loses value over time) rather than bonds (which appreciate in value), and the fact that the fund is not managed the way you mistakenly think it is designed to is throwing you off.

This is why when Congress was having that huge battle in 2011 over raising the debt ceiling, President Obama said this about social security: "I cannot guarantee that those checks go out on August 3 if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it."

Why is this so hard for you? An investment in bonds = you pay to receive an obligation from the other party to make future payments. It doesn't mean that there is a store of bills in a piggy bank. If Congress decides to prevent the gov't from meeting the obligation, that is a present decision to default on the obligation. It's not a result of anything being raided. Seriously think about this before responding. Not understanding what bonds are is one thing, but your repeated inability to understand a rather simple concept after it has been explained clearly to you is quite unusual.

 

[Starman]

I already explained that that makes no sense and depends on you not understanding what bonds are. When you invest in bonds, that means you pay money upfront and receive an obligation to pay in return. That future obligation cannot be "raided" to fund other programs.

It appears that you think that the surplus is supposed to be held in cash (which loses value over time) rather than bonds (which appreciate in value), and the fact that the fund is not managed the way you mistakenly think it is designed to is throwing you off.



Why is this so hard for you? An investment in bonds = you pay to receive an obligation from the other party to make future payments. It doesn't mean that there is a store of bills in a piggy bank. If Congress decides to prevent the gov't from meeting the obligation, that is a present decision to default on the obligation. It's not a result of anything being raided. Seriously think about this before responding. Not understanding what bonds are is one thing, but your repeated inability to understand a rather simple concept after it has been explained clearly to you is quite unusual.

You obviously still didn't read any of the links I provided you. I'll just keep posting it until you actually click on the links to see what is going on.

As I previously stated, the money isn't there. It isn't being invested in bonds or anything else. The federal government has raided social security on numerous occasions to fund other entitlement programs.

This is why when Congress was having that huge battle in 2011 over raising the debt ceiling, President Obama said this about social security: "I cannot guarantee that those checks go out on August 3 if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it."

What Happened to the $2.6 Trillion Social Security Trust Fund?
https://www.forbes.com/sites/merril...lion-social-security-trust-fund/#71b912e34947

What About the Trust Fund?
https://www.wsj.com/articles/SB10001424052702304521304576446250270069780

House Budget Robs Social Security for Welfare Payments
http://www.breitbart.com/big-govern...budget-robs-social-security-welfare-payments/

Government Owes $2.7 Trillion to Social Security
https://www.fedsmith.com/2013/05/23/government-owes-2-7-trillion-to-social-security/

 

[Jack V Savage]

As I previously stated, the money isn't there. It isn't being invested in bonds or anything else. The federal government has raided social security on numerous occasions to fund other entitlement programs.

OK, I suppose there's no way I can get you to look up what a bond even is, and you're going to keep bulling forward with your embarrassing misunderstanding.

This is why when Congress was having that huge battle in 2011 over raising the debt ceiling, President Obama said this about social security: "I cannot guarantee that those checks go out on August 3 if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it."

So the surplus being invested in bonds means that there isn't physical cash being laid out to be accessed later. The gov't has a financial obligation to make payments in the future. If Congress refuses to authorize payments, checks don't go out.

Does anyone else want to take a crack at educating this guy? I have rarely encountered such obtuseness. He appears to have a rather severe learning disability.

 

[Starman]

OK, I suppose there's no way I can get you to look up what a bond even is, and you're going to keep bulling forward with your embarrassing misunderstanding.



So the surplus being invested in bonds means that there isn't physical cash being laid out to be accessed later. The gov't has a financial obligation to make payments in the future. If Congress refuses to authorize payments, checks don't go out.

Does anyone else want to take a crack at educating this guy? I have rarely encountered such obtuseness. He appears to have a rather severe learning disability.

I love the little stealth cry for help, there.

Okay, Hack. Do me a favor. Tell me who you think is buying bonds, and what type of bonds do you think they are buying?

 

[Ice That Jaw]

umm no lol, i have $500 taken out every paycheck (twice a month) that goes to a Franklin Templeton IRA account. Thats $12,000 per year.

Thats not a traditional IRA then. The maximum for your employer IRA is 18k per year, same as my 403k. You should try to put the full 18k in every year in addition to $5500 into a Roth.

https://www.franklintempleton.com/i...business-retirement-plans/contribution-limits

 

[mrln242]

We all saw this coming right? Not like this shit is at all surprising. Social Security is a joke I hate that Ive paid in as much as I have. Fucking crooks set this up as their own personal piggy bank.

 

[Starman]

We all saw this coming right? Not like this shit is at all surprising. Social Security is a joke I hate that Ive paid in as much as I have. Fucking crooks set this up as their own personal piggy bank.

It's a slush fund. The government has raided social security to pay for other entitlements such as welfare.

That's what happens when you take accountability out of the hands of the people and put it in the hands of the government. Socialism at its finest.

Anyone who thinks a government 20 trillion in the hole will manage your money better than you do is a special kind of stupid.

 

[DickSarp]

http://money.cnn.com/2017/07/13/news/economy/social-security-trust-fund-projection/index.html

Hope you millenials have a good 401k or pension..... These idiots will probably come up with a "fix" that ultimately makes the problem worse.

You are making a fool of yourself. A pay-as-you-go system cannot run out of money.

Social Security, in spite of all republican efforts to undercut, destroy and sabotage the program, is the most successful government program in history.

SS is leaner and much more efficient than any private insurance provider.

SS is not a ponzi scheme. That is another right wing lie. No one has been defrauded, everyone's received their the benefit since SS started and the operation of the program, unlike republican health care plans, is transparent and public.

If you are middle class and you inveigh against SS, you are deficient in the head.

 

[Jack V Savage]

It's a slush fund. The government has raided social security to pay for other entitlements such as welfare.

Still posting nonsense.

The gov't cannot "raid" Social Security. It's not even possible.

 

[DickSarp]

It's a slush fund. The government has raided social security to pay for other entitlements such as welfare.

That's what happens when you take accountability out of the hands of the people and put it in the hands of the government. Socialism at its finest.

Anyone who thinks a government 20 trillion in the hole will manage your money better than you do is a special kind of stupid.

I'll do you a favor. Here: https://mythfighter.com/2017/07/15/how-you-completely-can-misunderstand-social-security/

Please read that and don't post again until you do. Spare us your profound ignorance on the matter. There's no shame in ignorance unless it is wilful.

 

[Cuauhtemoc]

Still posting nonsense.

The gov't cannot "raid" Social Security. It's not even possible.

Why do you even bother?
I'm on the right but I can't deal with these guys either, waiting for the day they will "raid" SS, or when China is going to "call" the debt, we can only be saved when we "audit" the Fed.

 

[Jack V Savage]

Why do you even bother?
I'm on the right but I can't deal with these guys either, waiting for the day they will "raid" SS, or when China is going to "call" the debt, we can only be saved when we "audit" the Fed.

It's so tempting because getting him to understand seems within reach.

And, yeah, those other two issues are similar. The left has actually used the "raid" SS thing before, too. The thing is that SS is really popular with the public so when unscrupulous politicians want to try to turn the public against any other type of spending, they put it in opposition to SS (so during the Iraq War, we were "raiding SS to pay for the war" and now to Breitbart-reading idiots, we're "raiding SS to pay for welfare").

 

[MiniCraque]

That's a bunch of mumbo jumbo

That's a testament to your competency, not Jack's.

 

[Starman]

I'll do you a favor. Here: https://mythfighter.com/2017/07/15/how-you-completely-can-misunderstand-social-security/

Please read that and don't post again until you do. Spare us your profound ignorance on the matter. There's no shame in ignorance unless it is wilful.

What Happened to the $2.6 Trillion Social Security Trust Fund?
https://www.forbes.com/sites/merril...lion-social-security-trust-fund/#71b912e34947

What About the Trust Fund?
https://www.wsj.com/articles/SB10001424052702304521304576446250270069780

House Budget Robs Social Security for Welfare Payments
http://www.breitbart.com/big-govern...budget-robs-social-security-welfare-payments/

Government Owes $2.7 Trillion to Social Security
https://www.fedsmith.com/2013/05/23/government-owes-2-7-trillion-to-social-security/