Originally posted by Jim Jeffries
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What happened to the Social Security Trust Fund?
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Originally posted by Jim Jeffries View PostEvery wage earning American sees a 6.2% deduction in their paycheck called FICA and their employer pays a matching amount. Since the creation of the Social Security Act in 1935, this money was supposed to go into a trust fund and if we became disabled, or when we reached retirement age, we then get a check every month. In the retirement case, the amount we get is based on how much we paid into the system.
On Tuesday, President Obama told CBS News' Scott Peley that he could not guarantee that if an agreement hasn't been reached by Aug 2, that Social Security checks would go out on Aug 3.
So my questions are: what happened to the SS trust fund and out of the approximately 200 billion in revenue that our Federal Gov takes in every month, why there aren't certain things that can be guaranteed will be paid? Because the interest on the debt is currently "only" 29 billion per month and the total of all SS checks is just under 60 billion per month, which still leaves a lot of money to pay our military, welfare, Medicare, Medicaid, etc.
Because if there isn't a trust fund, there are an awful lot of Baby Boomers reaching retirement age and if we can't even pay retirees and disabled now (without borrowing,) how on earth are we going to pay that group when their numbers increase dramatically?
http://jamaica-gleaner.com/gleaner/2...cleisure4.html
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There is nothing wrong with Social Security it pays for itself. Where Americans have gone wrong is we allow our government to take our money and spend it on other thing. Solution, Separate the SS fund from the government budget completely, make it untouchable by corrupt Washington once more.
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I reread my opening post and couldn't find anything to justify piglet's girly protests, I can only guess he didn't read it before menstruating.
Originally posted by Mitch5 View PostSocial Security is like a ponzi scheme, what im trying to say we're in a bad situation that just didnt stem this presidency but from presidencies before.
Originally posted by Chief2ndzOnly! View PostI'm not. The inflated, automatic salaries that they get paid contributes a great deal to the reason why they are inefficient. Lets look back to the "near" Gov. shut down. They were willing to sacrifice the paychecks of those on the bottom rung(GS civ. and US Soldiers, Sailors, Marines, and Airmen)here and abroad, safe or in harms way; but were not willing to sacrifice thier own paychecks as they live extremely comfortable day in and day out. And Jim you are ok with thier pay and benefits????????? How can you be??????????
Originally posted by siablo14 View PostI heard that more is being paid out than what is being collected that is why the SS Fund seems inadequate.
Originally posted by siablo14 View Postexactly and they borrowed to prop it up with hopes of paying down the line when better times come
Originally posted by siablo14 View PostI thought that only happens in Jamaica and let me tell you that's one of the few times all 60 parliamentarians vote in unison.
Originally posted by siablo14 View Post
Originally posted by Boxingtech718v2 View PostThere is nothing wrong with Social Security it pays for itself. Where Americans have gone wrong is we allow our government to take our money and spend it on other thing. Solution, Separate the SS fund from the government budget completely, make it untouchable by corrupt Washington once more.Last edited by Jim Jeffries; 07-15-2011, 10:32 AM.
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You might be right Chief, a cut might make them more responsible with other people's money. I was just looking at the total of their pay and benefits being a drop in the bucket of overspending.
The road to hell is filled with good intentions. And I'm not sure very many politicians even have the best of intentions.
I think it's the only time our Congress ever has a unanimous vote as well.
Good article. Yeah shrinking families and an aging population make things extremely difficult.
I'm all for separating it. But there is plenty wrong with Social Security. The ages are too low, we've got a huge block of people reaching retirement age, but without the population growth to fund them. Which might be okay if the money they paid in their whole lives was still there. And there are too many people, like that fat moron in the diaper, gaming the system, collecting disability.
Now one thing that could've been done was to individualize it, by how much an individual put in the pot. Something like that would create a large amount of jobs IMHO. The technology now exists to be able to do such a thing.Last edited by Chief2ndzOnly!; 07-15-2011, 01:34 PM.
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Originally posted by Jim Jeffries View PostEvery wage earning American sees a 6.2% deduction in their paycheck called FICA and their employer pays a matching amount. Since the creation of the Social Security Act in 1935, this money was supposed to go into a trust fund and if we became disabled, or when we reached retirement age, we then get a check every month. In the retirement case, the amount we get is based on how much we paid into the system.
On Tuesday, President Obama told CBS News' Scott Peley that he could not guarantee that if an agreement hasn't been reached by Aug 2, that Social Security checks would go out on Aug 3.
So my questions are: what happened to the SS trust fund and out of the approximately 200 billion in revenue that our Federal Gov takes in every month, why there aren't certain things that can be guaranteed will be paid? Because the interest on the debt is currently "only" 29 billion per month and the total of all SS checks is just under 60 billion per month, which still leaves a lot of money to pay our military, welfare, Medicare, Medicaid, etc.
Because if there isn't a trust fund, there are an awful lot of Baby Boomers reaching retirement age and if we can't even pay retirees and disabled now (without borrowing,) how on earth are we going to pay that group when their numbers increase dramatically?
and especially George W.Bush........
Last edited by Amazinger; 07-15-2011, 02:26 PM.
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