Home › Forums › Financial Markets/Economics › Next in Line for a Bailout: Social Security
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Arraya.
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February 7, 2010 at 1:40 AM #511133February 7, 2010 at 1:42 AM #510235
CA renter
ParticipantBTW, before anyone calls me a jealous communist or something, this would increase our taxes and we probably would not qualify for SS at all. Not talking my own book here; just think it’s the right thing to do.
February 7, 2010 at 1:42 AM #510380ParticipantBTW, before anyone calls me a jealous communist or something, this would increase our taxes and we probably would not qualify for SS at all. Not talking my own book here; just think it’s the right thing to do.
February 7, 2010 at 1:42 AM #510794ParticipantBTW, before anyone calls me a jealous communist or something, this would increase our taxes and we probably would not qualify for SS at all. Not talking my own book here; just think it’s the right thing to do.
February 7, 2010 at 1:42 AM #510888ParticipantBTW, before anyone calls me a jealous communist or something, this would increase our taxes and we probably would not qualify for SS at all. Not talking my own book here; just think it’s the right thing to do.
February 7, 2010 at 1:42 AM #511138ParticipantBTW, before anyone calls me a jealous communist or something, this would increase our taxes and we probably would not qualify for SS at all. Not talking my own book here; just think it’s the right thing to do.
February 7, 2010 at 9:25 AM #510240Arraya
Participant[quote=mlarsen23]Contrary to what Arraya and many in the uninformed news media want the American public to believe, there is no risk of a bailout for Social Security any time soon. It is true that it is now paying out more money in benefits than it takes in from taxes, but this means zero, nada, nothing in terms of the finances of the program.
Under the law that governs Social Security’s operations, it can pay full benefits as long as it maintains a minimum balance in its trust fund. At present, it has more than $2 trillion in the trust fund, far more than the minimum balance. In fact, because SS collects interest on the bonds in the trust fund it actually is projected to continue to run surpluses even through the current economic crisis.
The fund is projected face a shortfall after 2037. While there will probably have to be some adjustments made to the program at some point, this has been true in prior decades as well. It is striking how much attention the media devote to comparatively minor problem. The country is suffering the worst downturn in 70 years because the geniuses who run the Fed and Treasury could not see an $8 trillion housing bubble and let the Wall Street crew run wild with fraudulent loans and complex derivative instruments. It is those same Wall Street geniuses who would stand to benefit from the privatization of Social Security, and they are generally the folks behind the frequent meme that there is a big problem with Social Security.
An interesting thing for the media to focus on might be why the our neighbor to the north has done so comparatively well during the economic crisis despite its highly regulated financial sector and much stronger social safety net.[/quote]
Good grief, we are going to go down in a deluge of partisan finger pointing. The whole financial system is broken and the entitlement systems are a subset of that. Good look with trying to prove the viability of any of them as we slip into a depression.
Pensions, SS, medicare, etc. All predicated on a functioning economy. With the down turn, as it stands, we are starting to see shortfalls the size of the grand canyon all over the place coupled with institutionalized Enron accounting practices that have been in place for decades.
The financial and monetary systems are ponzi-schemes when looked at in certain contexts, as well
February 7, 2010 at 9:25 AM #510385Participant[quote=mlarsen23]Contrary to what Arraya and many in the uninformed news media want the American public to believe, there is no risk of a bailout for Social Security any time soon. It is true that it is now paying out more money in benefits than it takes in from taxes, but this means zero, nada, nothing in terms of the finances of the program.
Under the law that governs Social Security’s operations, it can pay full benefits as long as it maintains a minimum balance in its trust fund. At present, it has more than $2 trillion in the trust fund, far more than the minimum balance. In fact, because SS collects interest on the bonds in the trust fund it actually is projected to continue to run surpluses even through the current economic crisis.
The fund is projected face a shortfall after 2037. While there will probably have to be some adjustments made to the program at some point, this has been true in prior decades as well. It is striking how much attention the media devote to comparatively minor problem. The country is suffering the worst downturn in 70 years because the geniuses who run the Fed and Treasury could not see an $8 trillion housing bubble and let the Wall Street crew run wild with fraudulent loans and complex derivative instruments. It is those same Wall Street geniuses who would stand to benefit from the privatization of Social Security, and they are generally the folks behind the frequent meme that there is a big problem with Social Security.
An interesting thing for the media to focus on might be why the our neighbor to the north has done so comparatively well during the economic crisis despite its highly regulated financial sector and much stronger social safety net.[/quote]
Good grief, we are going to go down in a deluge of partisan finger pointing. The whole financial system is broken and the entitlement systems are a subset of that. Good look with trying to prove the viability of any of them as we slip into a depression.
Pensions, SS, medicare, etc. All predicated on a functioning economy. With the down turn, as it stands, we are starting to see shortfalls the size of the grand canyon all over the place coupled with institutionalized Enron accounting practices that have been in place for decades.
The financial and monetary systems are ponzi-schemes when looked at in certain contexts, as well
February 7, 2010 at 9:25 AM #510799Participant[quote=mlarsen23]Contrary to what Arraya and many in the uninformed news media want the American public to believe, there is no risk of a bailout for Social Security any time soon. It is true that it is now paying out more money in benefits than it takes in from taxes, but this means zero, nada, nothing in terms of the finances of the program.
Under the law that governs Social Security’s operations, it can pay full benefits as long as it maintains a minimum balance in its trust fund. At present, it has more than $2 trillion in the trust fund, far more than the minimum balance. In fact, because SS collects interest on the bonds in the trust fund it actually is projected to continue to run surpluses even through the current economic crisis.
The fund is projected face a shortfall after 2037. While there will probably have to be some adjustments made to the program at some point, this has been true in prior decades as well. It is striking how much attention the media devote to comparatively minor problem. The country is suffering the worst downturn in 70 years because the geniuses who run the Fed and Treasury could not see an $8 trillion housing bubble and let the Wall Street crew run wild with fraudulent loans and complex derivative instruments. It is those same Wall Street geniuses who would stand to benefit from the privatization of Social Security, and they are generally the folks behind the frequent meme that there is a big problem with Social Security.
An interesting thing for the media to focus on might be why the our neighbor to the north has done so comparatively well during the economic crisis despite its highly regulated financial sector and much stronger social safety net.[/quote]
Good grief, we are going to go down in a deluge of partisan finger pointing. The whole financial system is broken and the entitlement systems are a subset of that. Good look with trying to prove the viability of any of them as we slip into a depression.
Pensions, SS, medicare, etc. All predicated on a functioning economy. With the down turn, as it stands, we are starting to see shortfalls the size of the grand canyon all over the place coupled with institutionalized Enron accounting practices that have been in place for decades.
The financial and monetary systems are ponzi-schemes when looked at in certain contexts, as well
February 7, 2010 at 9:25 AM #510893Participant[quote=mlarsen23]Contrary to what Arraya and many in the uninformed news media want the American public to believe, there is no risk of a bailout for Social Security any time soon. It is true that it is now paying out more money in benefits than it takes in from taxes, but this means zero, nada, nothing in terms of the finances of the program.
Under the law that governs Social Security’s operations, it can pay full benefits as long as it maintains a minimum balance in its trust fund. At present, it has more than $2 trillion in the trust fund, far more than the minimum balance. In fact, because SS collects interest on the bonds in the trust fund it actually is projected to continue to run surpluses even through the current economic crisis.
The fund is projected face a shortfall after 2037. While there will probably have to be some adjustments made to the program at some point, this has been true in prior decades as well. It is striking how much attention the media devote to comparatively minor problem. The country is suffering the worst downturn in 70 years because the geniuses who run the Fed and Treasury could not see an $8 trillion housing bubble and let the Wall Street crew run wild with fraudulent loans and complex derivative instruments. It is those same Wall Street geniuses who would stand to benefit from the privatization of Social Security, and they are generally the folks behind the frequent meme that there is a big problem with Social Security.
An interesting thing for the media to focus on might be why the our neighbor to the north has done so comparatively well during the economic crisis despite its highly regulated financial sector and much stronger social safety net.[/quote]
Good grief, we are going to go down in a deluge of partisan finger pointing. The whole financial system is broken and the entitlement systems are a subset of that. Good look with trying to prove the viability of any of them as we slip into a depression.
Pensions, SS, medicare, etc. All predicated on a functioning economy. With the down turn, as it stands, we are starting to see shortfalls the size of the grand canyon all over the place coupled with institutionalized Enron accounting practices that have been in place for decades.
The financial and monetary systems are ponzi-schemes when looked at in certain contexts, as well
February 7, 2010 at 9:25 AM #511143Participant[quote=mlarsen23]Contrary to what Arraya and many in the uninformed news media want the American public to believe, there is no risk of a bailout for Social Security any time soon. It is true that it is now paying out more money in benefits than it takes in from taxes, but this means zero, nada, nothing in terms of the finances of the program.
Under the law that governs Social Security’s operations, it can pay full benefits as long as it maintains a minimum balance in its trust fund. At present, it has more than $2 trillion in the trust fund, far more than the minimum balance. In fact, because SS collects interest on the bonds in the trust fund it actually is projected to continue to run surpluses even through the current economic crisis.
The fund is projected face a shortfall after 2037. While there will probably have to be some adjustments made to the program at some point, this has been true in prior decades as well. It is striking how much attention the media devote to comparatively minor problem. The country is suffering the worst downturn in 70 years because the geniuses who run the Fed and Treasury could not see an $8 trillion housing bubble and let the Wall Street crew run wild with fraudulent loans and complex derivative instruments. It is those same Wall Street geniuses who would stand to benefit from the privatization of Social Security, and they are generally the folks behind the frequent meme that there is a big problem with Social Security.
An interesting thing for the media to focus on might be why the our neighbor to the north has done so comparatively well during the economic crisis despite its highly regulated financial sector and much stronger social safety net.[/quote]
Good grief, we are going to go down in a deluge of partisan finger pointing. The whole financial system is broken and the entitlement systems are a subset of that. Good look with trying to prove the viability of any of them as we slip into a depression.
Pensions, SS, medicare, etc. All predicated on a functioning economy. With the down turn, as it stands, we are starting to see shortfalls the size of the grand canyon all over the place coupled with institutionalized Enron accounting practices that have been in place for decades.
The financial and monetary systems are ponzi-schemes when looked at in certain contexts, as well
February 7, 2010 at 9:31 AM #510255blahblahblah
ParticipantOh my God, we’re all gonna diyeyeyeyeyeyeyye penniless and homeless and then Osama Bin Laden is gonna drop a swine flu bomb on us! I don’t know what to be more afraid of:
Terrarists…
Swine flu…
SS going bankrupt…
Global warming…
Peak oil…
The Bachelor might choose Vienna!Aiyeyeyeyeyeyeyeyeyeyeyeye! I’m gonna go read some more internet stuff to figure out what I should be most afraid of.
Game over man! Game over!
February 7, 2010 at 9:31 AM #510400ParticipantOh my God, we’re all gonna diyeyeyeyeyeyeyye penniless and homeless and then Osama Bin Laden is gonna drop a swine flu bomb on us! I don’t know what to be more afraid of:
Terrarists…
Swine flu…
SS going bankrupt…
Global warming…
Peak oil…
The Bachelor might choose Vienna!Aiyeyeyeyeyeyeyeyeyeyeyeye! I’m gonna go read some more internet stuff to figure out what I should be most afraid of.
Game over man! Game over!
February 7, 2010 at 9:31 AM #510814ParticipantOh my God, we’re all gonna diyeyeyeyeyeyeyye penniless and homeless and then Osama Bin Laden is gonna drop a swine flu bomb on us! I don’t know what to be more afraid of:
Terrarists…
Swine flu…
SS going bankrupt…
Global warming…
Peak oil…
The Bachelor might choose Vienna!Aiyeyeyeyeyeyeyeyeyeyeyeye! I’m gonna go read some more internet stuff to figure out what I should be most afraid of.
Game over man! Game over!
February 7, 2010 at 9:31 AM #510908ParticipantOh my God, we’re all gonna diyeyeyeyeyeyeyye penniless and homeless and then Osama Bin Laden is gonna drop a swine flu bomb on us! I don’t know what to be more afraid of:
Terrarists…
Swine flu…
SS going bankrupt…
Global warming…
Peak oil…
The Bachelor might choose Vienna!Aiyeyeyeyeyeyeyeyeyeyeyeye! I’m gonna go read some more internet stuff to figure out what I should be most afraid of.
Game over man! Game over!
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