Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
09/20/10 Baltimore, Maryland – On September 30, America will quietly begin a generational shift. This will be the final day of the government’s fiscal year 2010, and consequentially, a very notable day for Social Security. September 30 will be the last day – maybe for a long time – that Social Security could possibly be operating at a surplus.
Back in March, the Congressional Budget Office (CBO) admitted that most Social Security funding projections were way off, and that sometime in 2010 the program would begin paying out more than it’s taking in.
Liberals: Oh don't worrrrry. The government will find a solution to this conundrum. It always does! Government is good, give me more government! By the way I'm raising your taxes to 100% to help pay for it.
Neo-Cons: Oh we're America! We'll find the solution.....because we're America! We will find the solution in war!
Libertarians: We need to ax all government entitlements because it'll spend us to ruin just like all the empires of the past. Of course we can always monetize our debt by printing counterfeit legal money, but of of course a sports bottle of water is going to cost $1,000,000,000
The basic problem is the collapsed economy and job situation. If we could reduce the unemployment rate to the 4% level that prevailed in the late 90's there would be an additional 9 million paying into the system. And you'd find a lot more working into their 70's.
The basic problem is the collapsed economy and job situation. If we could reduce the unemployment rate to the 4% level that prevailed in the late 90's there would be an additional 9 million paying into the system. And you'd find a lot more working into their 70's.
With all these immigrants coming in, and the potential incoming amnesty, that 4% unemployment level is but a pipedream
The BASIC problem is that people cannot see into the future... you CANNOT guarantee the future with the money you have for today.... that is why pension plans and social security will ultimately fail... the liberals want to prolong the pain, the conservatives wants to patch the problem every few years... for me, don't start a plan that has ZERO chance of success for the long term...
Liberals: Oh don't worrrrry. The government will find a solution to this conundrum. It always does! Government is good, give me more government! By the way I'm raising your taxes to 100% to help pay for it.
Neo-Cons: Oh we're America! We'll find the solution.....because we're America! We will find the solution in war!
Libertarians: We need to ax all government entitlements because it'll spend us to ruin just like all the empires of the past. Of course we can always monetize our debt by printing counterfeit legal money, but of of course a sports bottle of water is going to cost $1,000,000,000
You forgot to include "Those not liable to pay for SocSec..."
They're the ones who aren't participants, nor persons liable for paying for that abomination.
That's why Congress has been calling all the think tank people in for discussions and presentations.
You do recall all those posts and links ?
Also, Obama's economic team will present something in December which involves changes to SS as recommendations moving forward.
This will get worse..Baby Boomers start turning 65 next year. The government knew this was coming and are just barely getting starting on trying to figure out what to do.
The BASIC problem is that people cannot see into the future... you CANNOT guarantee the future with the money you have for today.... that is why pension plans and social security will ultimately fail... the liberals want to prolong the pain, the conservatives wants to patch the problem every few years... for me, don't start a plan that has ZERO chance of success for the long term...
No not even close.
Private companies fail and go bankrupt. Their pensions are gone.
The government on the other hand never loses the ability to collect revenue as long as they have the ability to tax citizens.
What Western Country in modern history has lost the ability to tax it citizens??????
Not one.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
