Discussion:
Social Security needs a $46 trillion bailout.
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me
2017-08-12 12:37:49 UTC
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Do you have a Plan B?
https://www.sovereignman.com/trends/social-security-requires-a-bailout-thats-60x-greater-than-the-2008-emergency-bank-bailout-22241/?inf_contact_key=f1521fab1b238fdfd81fa6a011938caf15117f7e5311073d70b6f7406a519a43
Jack Fate
2017-08-12 12:42:47 UTC
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Post by me
Do you have a Plan B?
https://www.sovereignman.com/trends/social-security-requires-a-bailout-thats-60x-greater-than-the-2008-emergency-bank-bailout-22241/?inf_contact_key=f1521fab1b238fdfd81fa6a011938caf15117f7e5311073d70b6f7406a519a43
No, it needs congress to pay back the money it stole and then it would
be solvent. Course, you would think that's living off "another person's
money" but you're not too bright.
Talis Mann
2017-08-12 13:00:13 UTC
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Post by Jack Fate
No, it needs congress to pay back the money it stole
"...but I will no longer be posting here. No one here is going to change
so, basically, I'm wasting the little time I have left by posting to
this obscure little group full of stupid bigoted and racist Trump
lovers."
Honey Wagon
2017-08-12 18:23:13 UTC
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Post by Talis Mann
Post by Jack Fate
No, it needs congress to pay back the money it stole
"...but I will no longer be posting here.
Democrats voted to steal the money from Social Security first.

Democrats are the enemies of the American people.
SeaSnake
2017-08-12 18:30:21 UTC
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Post by Honey Wagon
Post by Talis Mann
Post by Jack Fate
No, it needs congress to pay back the money it stole
"...but I will no longer be posting here.
Democrats voted to steal the money from Social Security first.
Democrats are the enemies of the American people.
Amen!
Gunner Asch
2017-08-14 11:42:07 UTC
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On Sat, 12 Aug 2017 18:23:13 +0000 (UTC), Honey Wagon
Post by Honey Wagon
Post by Talis Mann
Post by Jack Fate
No, it needs congress to pay back the money it stole
"...but I will no longer be posting here.
Democrats voted to steal the money from Social Security first.
Democrats are the enemies of the American people.
\
Demonrats are the enemy of humanity.


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Governor Swill
2017-08-14 20:22:23 UTC
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On Sat, 12 Aug 2017 18:23:13 +0000 (UTC), Honey Wagon
Post by Honey Wagon
Post by Talis Mann
Post by Jack Fate
No, it needs congress to pay back the money it stole
"...but I will no longer be posting here.
Democrats voted to steal the money from Social Security first.
Democrats are the enemies of the American people.
Then why is it always Republicans who are spending us broke?

"We're going to spend every penny." Tom Delay
www.nytimes.com/1999/08/06/us/using-surplus-forces-clinton-to-sign-bills-delay-says.html

And then they tried some creative accounting to allow them to spent
the projected 2001 surplus in the 2000 budget.
www.nytimes.com/1999/09/15/us/republican-plans-to-tap-2001-surplus-now.html

Swill
--
"Bungled collusion is still collusion." -- Charles Krauthammer.
m***@my-deja.com
2017-08-14 23:51:10 UTC
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Post by Honey Wagon
Post by Talis Mann
Post by Jack Fate
No, it needs congress to pay back the money it stole
"...but I will no longer be posting here.
Democrats voted to steal the money from Social Security first.
Democrats are the enemies of the American people.
But they are not the ones scheming to screw retirees out
of their SS.
mg
2017-08-15 01:56:02 UTC
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On Sat, 12 Aug 2017 05:37:49 -0700 (PDT), me
Post by me
Do you have a Plan B?
https://www.sovereignman.com/trends/social-security-requires-a-bailout-thats-60x-greater-than-the-2008-emergency-bank-bailout-22241/?inf_contact_key=f1521fab1b238fdfd81fa6a011938caf15117f7e5311073d70b6f7406a519a43
Unlike military spending, for instance, the Social Security
Administration cannot spend money that it doesn't have. It's
self-funded. Therefore, the $46 trillion is not real. It's
an imaginary concept based on what might happen if it could
borrow money like the federal government does.
me
2017-08-15 02:29:55 UTC
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So retirees don't need a Plan B? Does the self funded SS have a Plan B?
mg
2017-08-15 03:28:26 UTC
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On Mon, 14 Aug 2017 19:29:55 -0700 (PDT), me
Post by me
So retirees don't need a Plan B? Does the self funded SS have a Plan B?
Plan B was for the wife to go to work. That probably
happened for most couples in the late 70s, or early 80s. My
wife went back to school and then went to work in the early
80s, for example. Plan C is to have fewer children and the
birth rate for whites, at least, is below the replacement
level. Plan D is not to get married at all and I think a lot
of people are staying single now days.

So, really I think the wage earner in this country is
currently working on plan E. My daughter knows a couple
where the husband is working two full-time jobs and the wife
is working one full time job. People don't really make
enough money to save much money now days, so that's not a
very realistic option. For those whose employer is matching
401K contributions, people really ought to contribute the
maximum for a full match, at least.

Unless the politicians change the law with Social Security,
everyone will take about a 25% cut 2033. There are no plans
to change that, but both political want to do the same
thing, i.e., turn SS into a (bigger) welfare program by
making an additional cut for those who receive above average
benefits and transfer the money to those who receive less
than average benefits.


With Social Security, both political parties have made it
very clear that they will not strengthen the program.
El Castor
2017-08-15 06:48:22 UTC
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Post by me
So retirees don't need a Plan B? Does the self funded SS have a Plan B?
I realize that you believe (hope?) that a calamity is just around the
corner, but it doesn't work that way. The congressional Plan B is what
it has always been --tweak here and there, adjusting both benefits and
contributions in ways that most of the public will not notice, and the
date of calamity is pushed a bit further into the future. It is
happening as we speak -- the contribution cap is being raised, the
full retirement age has begun to creep up, work credits that define
eligibility are creeping up, and a couple of other changes too
complicated for either of us to understand. Now and then larger
changes will be sold to the voters, and the date of doom will recede
further into the future.
me
2017-08-15 11:32:34 UTC
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Yes, but SS is only one such hole in the political, fiscal and economic dyke. There are many. And they appear in increasing numbers. It is all too complicated for not just me, or you, it is too complicated for anyone. The cost of containing chaos will be greater than chaos. This is how resets happen.
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