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After health care, U.S. to take on Social Security - 8/16/2009 1:20:00 PM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline 		After health care, U.S. to take on Social Security

As Congress agonizes over health care, an even more daunting and dangerous challenge is bearing down: how to shore up Social Security to keep it from burying the nation ever deeper in debt.

Read full story at the sfgate.com

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/08/15/BUVQ197KBL.DTL&type=business
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RE: After health care, U.S. to take on Social Security - 8/16/2009 1:35:12 PM   
ThatDamnedPanda


Posts: 6060
Joined: 1/26/2009
Status: offline 		Great. I can't wait to see how this one turns out.

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RE: After health care, U.S. to take on Social Security - 8/16/2009 2:59:03 PM   
DomKen


Posts: 19457
Joined: 7/4/2004
From: Chicago, IL
Status: offline 		We're rapidly approaching a point where the simplest solution, eliminating the cap on income taxed under SS, won't work. Soon enough we won't have any choice but to greatly raise the retiremeny age, 85 is the last sustainable number I saw, or greatly increasing the amount withheld or greatly reducing the benefit.


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RE: After health care, U.S. to take on Social Security - 8/16/2009 3:10:25 PM   
housesub4you


Posts: 1879
Joined: 4/2/2008
Status: offline 		Actually the problem with SS is being blown way out of sorts.  The real problem is our Government has been borrowing money from the fund for the last 35 years and the repayment is to start soon.  So if the government makes it's payments (which it does not intend to do) then there would be no problem. 

But if they create a false problem and scare the shit out of people then everyone will agree to whatever BS they pull over our eyes and hell screw us all out that to.

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RE: After health care, U.S. to take on Social Security - 8/16/2009 3:43:02 PM   
MasterG2kTR


Posts: 6677
Joined: 8/7/2004
From: Wisconsin
Status: offline
quote:

ORIGINAL: housesub4you

Actually the problem with SS is being blown way out of sorts.  The real problem is our Government has been borrowing money from the fund for the last 35 years and the repayment is to start soon.  So if the government makes it's payments (which it does not intend to do) then there would be no problem. 

But if they create a false problem and scare the shit out of people then everyone will agree to whatever BS they pull over our eyes and hell screw us all out that to.



I say we get a petition going to take the repayment from the congressional retirement fund (for which they pay absolutely nothing), then you can bet they's find the money for paying it back.

(in reply to housesub4you)
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RE: After health care, U.S. to take on Social Security - 8/16/2009 5:01:22 PM   
DomKen


Posts: 19457
Joined: 7/4/2004
From: Chicago, IL
Status: offline 		It's no where near that simple. If all the money had been held as liquid cash earning no interest we would be looking at trouble sooner than we are now. Putting the trust fund into interest bearing treasury securities is a good idea and allows us to self finance a big chunk of the deficit every year. However that only works as long as the amount the payroll tax generates exceeds the amount distributed as benefits which is due to change in less than 10 years. No amount of redeeming those trust fund securities will prevent the fund running out of money. Something else has to be done


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RE: After health care, U.S. to take on Social Security - 8/16/2009 6:10:51 PM   
TheHeretic


Posts: 19100
Joined: 3/25/2007
From: California, USA
Status: offline 		Yep.  President Obama is more than welcome to reach right out and grab that third rail of politics.  What are the chances he'll decide we need a private option that gives participants some choice in how the funds are invested?

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RE: After health care, U.S. to take on Social Security - 8/16/2009 6:34:19 PM   
servantforuse


Posts: 6363
Joined: 3/8/2006
Status: offline 		They will solve social security like they solve every other problem. Tax the middle class. The wealthy will be broke from funding health care..

(in reply to TheHeretic)
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