Current budget problems shows Social Security trust fund LIE (legal, Reid, retire)
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Well, there must be enough money to allow the government to declare a payroll tax holiday, where they cut the amount that millions of working people contribute to the system.
One can't cut the contributions to the system then declare that the system is in dire straights.
Obama himself said that Social Security checks might not be sent out because THERE IS NO MONEY to pay them. If the national debt defaults, the treasury notes are WORTHLESS..
Hopefully his statements will be a wake up call for those on SS, or those nearing retirement age that are not paying attention. The "SS trust fund" has been spent to indulge generations of politicians, and replaced with IOUs. The money due the fund will have to come from general tax revenues, same as any other treasury note. This has been done for decades by the lying sacks of both parties. It was also how Clinton claimed a "surplus". Decades of lies by politicians have put the future of our seniors and our future taxpayers are grave risk.
Anyone who relies upon Social Security, or plans too in the future, needs to look at the current budget situation as a warning..
They continue to tell you all of the money is locked away in a trust fund, secured until, last date published 2037, but ask yourself.. is it?
If there was enough money in the Social Security trust fund to last another 26 years, then why are there warnmings that if the budget and debt ceiling isnt raised, Social Security checks might not be issued?
Social Security is a DIFFERENT budget than the general operating fund, so one budget deficit, shouldnt stop another budget from issuing checks.
Take this as a warning to everyone planning to rely upon SS for their reitrement. THERE IS NO TRUST FUND..
Do you think too much was paid out for disability? Thus robbing the retirees.
Well, there must be enough money to allow the government to declare a payroll tax holiday, where they cut the amount that millions of working people contribute to the system.
One can't cut the contributions to the system then declare that the system is in dire straights.
Obama reduced the payroll tax starting in 2011 knowing full well that SS was in trouble. Why ?
You should rely upon Social Security for just that, a sipplemental, but far too many americans rely upon it for their sole source of livelyhood.
Not everyone had a high paying job and 401Ks were not around that long.
Even retirement accounts are limited in annual contributions.
Your average blue collar joe didn't get a company pension and might have his home paid for and a bit saved away and SS definitely played a part in his retirement plan.
There's a generation before the boomers that are on SS right now that do rely on SS along with p/t jobs to get through.
Seems there's plenty of sympathy for the poor yet not much for the retired.
Well I do draw a Good Pension and SS.Thing is couple years ago there was a question as to my Pension being secure but nothing has changed so I'm less worried but watching it.Now Obama is pulling this with SS.
We recently bought a place even though we have a Small Cabin we could have moved to and been Debt Free but we have three Dogs we Love very much and they wouldn't be Happy with the Small Lot at the Cabin so we bought acreage and went into more debt.
My wife at present is out of work and going to school,just hoping with her age she can find work once she gets out.She has a Small Advertising Business.And we have kicked around starting a Business here.Just the idea of being tied down and coming up with Start Up cost.
We was going to Sell the Cabin or move the Buildings here and sell the Lot but with everything going on we are going to leave it as is just for insurance.
Truth I'm scared but I feel we will be better than alot of people.
Well, there must be enough money to allow the government to declare a payroll tax holiday, where they cut the amount that millions of working people contribute to the system.
One can't cut the contributions to the system then declare that the system is in dire straights.
Do you really think are so called leaders have common sense? Or could they have been thinking that some people are not getting a dime anyways and they were guilt tripping and gave a fraction back? And you do know that our economy is driven by consumer spending so too boost that they used SSI money, why not they spend it year after year.
On another front the CBO in the future will say they unexpectedly miscalculated and because of the cut SSI is now in dire straights. That way they can place blame on the people and that makes some cover for their sorry a$$es.l
it is peoples fault if they rely upon SS for their retirement and not make other arrangements.
President Bush TRIED to allow seniors to make "other arrangements" by letting them divert 2% of their contributions into PRIVATE accounts. That money could be used to cover their expenses until this mess is finally resolved. Barry cannot not take away something he does not control.
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