Deleted
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Post by Deleted on Feb 3, 2012 16:22:13 GMT -5
The outlook for Social Security's trust fund has deteriorated to an astonishing degree over the past year, new Congressional Budget Office projections show.
The nonpartisan budget scorekeeper released the estimates Tuesday as part of broader economic and budget forecasts. CBO expects the trust fund to peak in 2018 and decline to $2.7 trillion in 2022 — a full $1 trillion less than Social Security's own actuaries predicted last year.
The new trajectory suggests that the trust fund's current depletion date of 2036 may jump ahead several years when Social Security's trustees release their annual report this spring, making the retirement program more central to the 2012 election .
The trust fund doesn't mean much for the government's ability to afford benefits — Social Security's assets are offset by Treasury's equal debt. But it does give the program the legal authority to pay all promised benefits until its special Treasuries are spent. The rest of the article is here: news.investors.com/Article/599776/201202020805/social-security-trust-fund-missing-trillion.htm?src=HPLNews
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Deleted
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Post by Deleted on Feb 3, 2012 16:26:12 GMT -5
Trust fund....thats funny.
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Virgil Showlion
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[b]leones potest resistere[/b]
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Post by Virgil Showlion on Feb 3, 2012 16:26:50 GMT -5
It won't be funny in 2015.
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Post by Savoir Faire-Demogague in NJ on Feb 3, 2012 16:27:17 GMT -5
Trust fund....thats funny. Yeah the joke is on the American people.
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Deleted
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Post by Deleted on Feb 3, 2012 16:28:44 GMT -5
If you read the rest of the article it mentions that SSDI - the Social Security fund that pays for disabled adults - will run out of money in 2016. Scary.
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Deleted
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Post by Deleted on Feb 3, 2012 16:29:17 GMT -5
It won't be funny in 2015. You mean you didn't see this coming? I'm surprised. btw.. the TRUST part is sort of ironic don't you think?
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Sum Dum Gai
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Post by Sum Dum Gai on Feb 3, 2012 16:37:22 GMT -5
You guys are so negative. All you see are problems instead of opportunities. If SS runs out of money, we can round up the broke old folks, grind them up, make soylent green, sell it to food importing countries, and help pay down the national debt. No big.
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Deleted
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Post by Deleted on Feb 3, 2012 16:38:39 GMT -5
You mean I paid money to the federal government and now I'm not going to get it back? Does that ever happen?
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thyme4change
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Post by thyme4change on Feb 3, 2012 16:39:48 GMT -5
Death Panels!
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Deleted
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Post by Deleted on Feb 3, 2012 16:40:03 GMT -5
You mean I paid money to the federal government and now I'm not going to get it back? Does that ever happen? Shocking isn't it?! We have a similar issue here with our Canada Pension Plan, I've been contributing to it my entire working life but have very little, if any hopes of collecting any when I retire. Darn those baby boomers!
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Deleted
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Post by Deleted on Feb 3, 2012 16:40:37 GMT -5
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Deleted
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Post by Deleted on Feb 3, 2012 16:48:27 GMT -5
Death Panels!
What else should boomers who didn't breed enough taxpayers and elected the politicians that spent all the money get?
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rockon
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Post by rockon on Feb 3, 2012 16:50:03 GMT -5
Wow we should put these people in charge of national health care!
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rockon
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Post by rockon on Feb 3, 2012 16:52:21 GMT -5
Obama's most recent claim to fame. Cut the witholdings for Social Security. Now he wants to extend it again.
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billisonboard
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Post by billisonboard on Feb 3, 2012 16:55:20 GMT -5
"Hey kids, I have some good news and some bad news. The good news is Grandma and Grandpa are coming to stay. The bad news is that they will be moving in permanently so you will be sharing a room until you leave for col.... whoops .... sorry, more bad news. ..."
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Deleted
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Post by Deleted on Feb 3, 2012 16:58:32 GMT -5
But it would be un-American to not extend the payroll tax break....
You know, since they insist on paying for any spending (or lost revenue), how bout they simply pay for the SS tax cut by an equivalent reduction in everyone's future benefits. If you cut the tax by 1/3 (or whatever it is), then reduce the future benefits a person gets from this year's earnings by 1/3, too. Seems simple enough.
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thyme4change
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Post by thyme4change on Feb 3, 2012 16:59:37 GMT -5
Social Security - the slowest Robin Hood figure in all of history.
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Deleted
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Post by Deleted on Feb 3, 2012 17:00:57 GMT -5
Obama's most recent claim to fame. Cut the witholdings for Social Security. Now he wants to extend it again. How can he be expected to make long term goals with such impatient voters? This is the era of INSTANT gratification, worry about the residual damage later.
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Deleted
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Post by Deleted on Feb 3, 2012 17:01:39 GMT -5
Social Security - the slowest Robin Hood figure in all of history. Thats funny because its so true. Except for the giving to the poor part.
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Deleted
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Post by Deleted on Feb 3, 2012 17:02:17 GMT -5
As long as the baby boomers get screwed I will be happy.
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billisonboard
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Post by billisonboard on Feb 3, 2012 17:04:58 GMT -5
As long as the baby boomers get screwed I will be happy. Cost of supporting the elderly will fall on younger individuals. The only question is will it be individually or collectively. EDIT: and btw, no one will be getting screwed with grandma and/or grandpa in the next bedroom.
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Sum Dum Gai
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Post by Sum Dum Gai on Feb 3, 2012 17:05:48 GMT -5
As long as the baby boomers get screwed I will be happy. Somebody's parents didn't hug him enough...
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Post by Savoir Faire-Demogague in NJ on Feb 3, 2012 17:06:11 GMT -5
As long as the baby boomers get screwed I will be happy.
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Deleted
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Post by Deleted on Feb 3, 2012 17:06:14 GMT -5
As long as the baby boomers get screwed I will be happy. Cost of supporting the elderly will fall on younger individuals. The only question is will it be individually or collectively. That's ok... But if the baby boomers get out of this unscathed and leave the rest of us behind to clean up the mess, I will be upset.
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thyme4change
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Post by thyme4change on Feb 3, 2012 17:06:28 GMT -5
I'm pretty sure that won't happen. They will get theirs and you and I will be looking for the butt-lube so it doesn't hurt quite so bad.
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Sum Dum Gai
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Post by Sum Dum Gai on Feb 3, 2012 17:07:44 GMT -5
Cost of supporting the elderly will fall on younger individuals. The only question is will it be individually or collectively. It'll have to be collectively then, because I'm not individually giving my father one friggin dime. The dude can live under an overpass for all I care. I know a whole hell of a lot of people my age raised by single mothers that feel pretty much the same way about their absent fathers.
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Deleted
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Post by Deleted on Feb 3, 2012 17:10:15 GMT -5
Cost of supporting the elderly will fall on younger individuals. The only question is will it be individually or collectively. It'll have to be collectively then, because I'm not individually giving my father one friggin dime. The dude can live under an overpass for all I care. I know a whole hell of a lot of people my age raised by single mothers that feel pretty much the same way about their absent fathers.
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Deleted
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Post by Deleted on Feb 3, 2012 17:10:17 GMT -5
Cost of supporting the elderly will fall on younger individuals. The only question is will it be individually or collectively. It'll have to be collectively then, because I'm not individually giving my father one friggin dime. The dude can live under an overpass for all I care. I know a whole hell of a lot of people my age raised by single mothers that feel pretty much the same way about their absent fathers. Sounds like someone wasn't hugged by his father enough.
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Deleted
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Post by Deleted on Feb 3, 2012 17:11:28 GMT -5
That's ok... But if the baby boomers get out of this unscathed and leave the rest of us behind to clean up the mess, I will be upset. Because, of course, it's all my fault. Just tell us where the money is! Maybe we'll go easy on ya.
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Sum Dum Gai
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Post by Sum Dum Gai on Feb 3, 2012 17:12:55 GMT -5
Sounds like someone wasn't hugged by his father enough. Not even remotely enough. The dude split before my first birthday and never paid child support. If he's broke in old age, tough shit. He's not getting a penny from me.
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