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Social Security in the red for first time ever - 8/5/2010 12:04:48 PM   
pahunkboy


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Status: offline 		http://www.washingtontimes.com/news/2010/aug/5/social-security-red-first-time-ever/

zzzzzzzzzzzzzzzzzzz-   while GS/JPM steals your retirement.
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RE: Social Security in the red for first time ever - 8/5/2010 12:36:42 PM   
ThatDamnedPanda


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quote:

The deficit will last through 2011, then an improving economy will put it back into balance for three years, then it will dip back into the red in 2015, the actuary said. The program has enough money in its trust fund to cover the annual deficit for two decades beyond that.


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RE: Social Security in the red for first time ever - 8/5/2010 12:43:40 PM   
willbeurdaddy


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Status: offline 		Very misleading article. The "red" is only the difference between tax receipts and benefit payments + expenses. Interest on the trust fund securities more than exceeds that deficit.

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RE: Social Security in the red for first time ever - 8/5/2010 12:44:13 PM   
Jeffff


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Status: offline 		Panda.. how are we supposed to panic with info like that.


You are a tool of the Snap-On Corporation!

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RE: Social Security in the red for first time ever - 8/5/2010 12:47:40 PM   
pahunkboy


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RE: Social Security in the red for first time ever - 8/5/2010 12:52:08 PM   
pahunkboy


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RE: Social Security in the red for first time ever - 8/5/2010 7:22:01 PM   
vincentML


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quote:

ORIGINAL: willbeurdaddy

Very misleading article. The "red" is only the difference between tax receipts and benefit payments + expenses. Interest on the trust fund securities more than exceeds that deficit.


I thought so also. As I understand it the SS Trust Fund contains $2.7 Trillion in Treasury Securities from which it draws interest payments. Hardly in the Red. The principle will not vanish for quite a number of years.

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RE: Social Security in the red for first time ever - 8/6/2010 5:52:25 AM   
mnottertail


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quote:

ORIGINAL: willbeurdaddy

Very misleading article. The "red" is only the difference between tax receipts and benefit payments + expenses. Interest on the trust fund securities more than exceeds that deficit.


Hey, I've always wondered on that, since much of the SocSec is in the intragovernmental transfers and the securities are mostly Ts (I could be wrong about that) aren't we still in effect, 1. paying the interest to ourselves, thru taxation and borrowing, and; 2. since it is becoming increasingly unclear whether we can or cannot pay them back at full value, is it even realistic to talk red and black.

In any case, this points out the difference in deficit and debt.  A concept that has unclear meaning to many, and are often bandied about interchangeably, by folks who know better,  with myself being one of the  maximally culpable.

  

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RE: Social Security in the red for first time ever - 8/6/2010 6:20:06 AM   
thompsonx


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quote:

You are a tool of the Snap-On Corporation!



Thanx phoquer...now I have coffee all over my monitor

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RE: Social Security in the red for first time ever - 8/6/2010 6:34:22 AM   
pahunkboy


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RE: Social Security in the red for first time ever - 8/6/2010 8:34:11 AM   
willbeurdaddy


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quote:

ORIGINAL: mnottertail

quote:

ORIGINAL: willbeurdaddy

Very misleading article. The "red" is only the difference between tax receipts and benefit payments + expenses. Interest on the trust fund securities more than exceeds that deficit.


Hey, I've always wondered on that, since much of the SocSec is in the intragovernmental transfers and the securities are mostly Ts (I could be wrong about that) aren't we still in effect, 1. paying the interest to ourselves, thru taxation and borrowing, and; 2. since it is becoming increasingly unclear whether we can or cannot pay them back at full value, is it even realistic to talk red and black.

In any case, this points out the difference in deficit and debt.  A concept that has unclear meaning to many, and are often bandied about interchangeably, by folks who know better,  with myself being one of the  maximally culpable.

  


All, not just most, of the trust fund is invested in special issue Treasuries, so yes, so interest payments are a transfer from the left pocket to the right. (Much like you borrowing from your 401(k) account).

As far as paying it back, US Treasuries are still considered the safest investment in the world. If we default on our debts we'll be in a lot worse trouble then SS actually having negative cash flow. That is why it is so critical to rein in spending and grow the economy.

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RE: Social Security in the red for first time ever - 8/6/2010 4:05:11 PM   
Nosathro


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From: Orange County, California
Status: offline 		Well, something is in the works that will have a a major impact on Social Security. Many liberal polications, like California Senators, want illegal immigrants to recieve Social Security benefits. Illegal immigrants do not pay into Social Security and at last count it was estimated there were 11 million of them, with the number continuing to grow. Imagine 11 million plus more on Social Security without contributing.

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RE: Social Security in the red for first time ever - 8/6/2010 4:10:01 PM   
Marini


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quote:

ORIGINAL: Nosathro

Well, something is in the works that will have a a major impact on Social Security. Many liberal polications, like California Senators, want illegal immigrants to recieve Social Security benefits. Illegal immigrants do not pay into Social Security and at last count it was estimated there were 11 million of them, with the number continuing to grow. Imagine 11 million plus more on Social Security without contributing.


This is the type of situation, that will push the United States into Socialism.
I have been accepting and embracing what is surely our destiny.
I will bet half of the money in my purse, the number would be closer to 15 -20 million.

< Message edited by Marini -- 8/6/2010 4:12:59 PM >

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RE: Social Security in the red for first time ever - 8/6/2010 4:12:27 PM   
ThatDamnedPanda


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quote:

ORIGINAL: Nosathro

Well, something is in the works that will have a a major impact on Social Security. Many liberal polications, like California Senators, want illegal immigrants to recieve Social Security benefits. Illegal immigrants do not pay into Social Security and at last count it was estimated there were 11 million of them, with the number continuing to grow. Imagine 11 million plus more on Social Security without contributing.


Like who. for example?


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RE: Social Security in the red for first time ever - 8/6/2010 4:13:31 PM   
ThatDamnedPanda


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quote:

ORIGINAL: Marini

quote:

ORIGINAL: Nosathro

Well, something is in the works that will have a a major impact on Social Security. Many liberal polications, like California Senators, want illegal immigrants to recieve Social Security benefits. Illegal immigrants do not pay into Social Security and at last count it was estimated there were 11 million of them, with the number continuing to grow. Imagine 11 million plus more on Social Security without contributing.


This is the type of situation, that will push the United States into Socialism.
I have been accepting and embracing what is surely our destiny.
I will bet half of the money in my purse, the number would be closer to 15 -20 million.


You don't need to worry about it, it's bullshit. It's just another right-wing ghost story that's been making the rounds on e-mail for 4 or 5 years now, ever since some knuckle-dragging nitwit heard it on the Rush Limbaugh Propaganda For The Simple  Hour.


< Message edited by ThatDamnedPanda -- 8/6/2010 4:20:31 PM >

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RE: Social Security in the red for first time ever - 8/6/2010 4:21:47 PM   
Marini


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Joined: 2/14/2010
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quote:

ORIGINAL: ThatDamnedPanda

quote:

ORIGINAL: Marini

quote:

ORIGINAL: Nosathro

Well, something is in the works that will have a a major impact on Social Security. Many liberal polications, like California Senators, want illegal immigrants to recieve Social Security benefits. Illegal immigrants do not pay into Social Security and at last count it was estimated there were 11 million of them, with the number continuing to grow. Imagine 11 million plus more on Social Security without contributing.


This is the type of situation, that will push the United States into Socialism.
I have been accepting and embracing what is surely our destiny.
I will bet half of the money in my purse, the number would be closer to 15 -20 million.


You don't need to worry about it, it's bullshit.



lol, those that are here illegally WILL be receiving benefits soon.
It's just a matter of time, we are NOT sending them back, what are we going to do when they start gettting old, etc?

Let them starve to death?

I imagine senior citizen centers just for illegal immigrants.
Panda you need to wake up, we are already paying and we are going to pay, pay,pay and pay more to take care of illegal immigrants.
Whether they get SS or not, we are still going to take care of them.

Take off the rainbow shades.

Over 10.7 Billion of US health care costs and rising.

http://www.cnsnews.com/news/article/51751

< Message edited by Marini -- 8/6/2010 4:32:15 PM >

_____________________________

As always, To EACH their Own.
"And as we let our own light shine, we unconsciously give other people permission to do the same. "
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NOT a Republican/Moderate and free agent

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RE: Social Security in the red for first time ever - 8/6/2010 4:21:50 PM   
pahunkboy


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From: Central Pennsylvania
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quote:

ORIGINAL: Nosathro

Well, something is in the works that will have a a major impact on Social Security. Many liberal polications, like California Senators, want illegal immigrants to recieve Social Security benefits. Illegal immigrants do not pay into Social Security and at last count it was estimated there were 11 million of them, with the number continuing to grow. Imagine 11 million plus more on Social Security without contributing.



I think the goal is to have them pay in with out collecting.  

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RE: Social Security in the red for first time ever - 8/6/2010 4:31:34 PM   
ThatDamnedPanda


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quote:

ORIGINAL: Marini

lol, those that are here illegally WILL be receiving benefits soon.



No, they won't. It's illegal. They can't.


quote:

ORIGINAL: Marini
It's just a matter of time, we are NOT sending them back, what are we going to do when they start gettting old, etc?

Let them starve to death?


The same thing we do now - deport them.


quote:

ORIGINAL: Marini
I imagine senior citizen centers just for illegal immigrants.
Panda you need to wake up, we are already paying and we are going to pay, pay,pay and pay more to take care of illegal immigrants.
Whether they get SS or not, we are still going to take care of them.

Take off the rainbow shades.


Other than emergency medical care, in what ways are we paying to take care of illegal immigrants?

< Message edited by ThatDamnedPanda -- 8/6/2010 4:32:17 PM >

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Panda, panda, burning bright
In the forest of the night
What immortal hand or eye
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RE: Social Security in the red for first time ever - 8/6/2010 4:33:52 PM   
Marini


Posts: 3629
Joined: 2/14/2010
Status: offline 		okay Panda, the illegal immigrants don't cost us a penny.

lol



_____________________________

As always, To EACH their Own.
"And as we let our own light shine, we unconsciously give other people permission to do the same. "
Nelson Mandela
Life-long Democrat, not happy at all with Democratic Party.
NOT a Republican/Moderate and free agent

(in reply to ThatDamnedPanda)
Profile   Post #: 19
RE: Social Security in the red for first time ever - 8/6/2010 4:35:02 PM   
ThatDamnedPanda


Posts: 6060
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Status: offline 		I didn't say that. 

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Panda, panda, burning bright
In the forest of the night
What immortal hand or eye
Made you all black and white and roly-poly like that?


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Profile   Post #: 20
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