Any plan that is mathematically possible requires big cuts to some combination of defense, social security, and medicare.[/quote]
That’s kind of a misnomer. In 2010, SS by itself will have it’s first deficit in almost 30 years. Estimated at 41 billion, it is almost entirely do to the recession and high unemployment. According to the Trustees Report, SS is expected to run a surplus from 2012 through 2014. Social Security is not causing the deficit. It has never contributed significantly to the deficit…[/quote]
Cuts need to be made to the SSD an SSI programs. I believe these programs are in whole or part funded from FICA taxes which also funds the OASDI program (all are Social Security Admin programs).
I know a couple of handfuls of able-bodied American adults of working age that have collected $1800-$3000 mo SSD for many years. My OASDI benefit (if its still there when I’m old enough to claim it, lol) won’t be anywhere near that. If mine and my employers’ original contribution on my behalf will not even be available for me, I think it is only fair to pay me the lump sum now.
And I don’t think recent immigrants should be eligible for SSI benefits. They didn’t feed anything into the system, entered the US at an advanced age and their sponsors swore to the INS on affidavits to support them for life as a condition of their legal residence in this country.
IMO, Social Security reform needs to be undertaken ASAP. It’s a ponzi scheme in which benefits will likely not be available in the future except to maybe the first five years of baby boomers . . . for a limited time.
