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Social Security reserves forecast to run dry in 2022 - Washington TimesSocial Security’s bank account will go bust in 2022 — the first time the program’s combined trust funds will run a deficit, according to PresidentObama’s budget released Monday.One of Medicare’s trust funds also will be in the red for much of the next decade, according to the numbers in the briefing book that the White House provided to Congress along with the budget, which lays out Mr. Obama’s tax and spending plans for fiscal year 2013 and beyond.Social Security has taken in less in taxes than it has paid out in benefits since 2010, but the shortfall has beenmade up as the government has dipped into IOUs left in the trust funds from previous years.Monday’s numbers, though, show the combined trust fund itself will run a deficit of $2.6 billion in 2022.
two initial words for you and the article - so what?
Either one believes in the full faith and credit of the United States or one does not. Which are you?
Either one believes in honoring the promises made to the citizens of the nation who fulfill their end of the bargain or one does not. Which are you?
Either one believes that money and revenues should first go to existing and long standing obligations before new ones are taken on or one does not. Which are you?
It's no big deal...we can just print more money with no concern over consequences.
Or, so I've been told in another thread.
Or raise the cap beyond $90K.
two initial words for you and the article - so what?
Either one believes in the full faith and credit of the United States or one does not. Which are you?
Either one believes in honoring the promises made to the citizens of the nation who fulfill their end of the bargain or one does not. Which are you?
Either one believes that money and revenues should first go to existing and long standing obligations before new ones are taken on or one does not. Which are you?
You mean kick the can down the road a few more years?
Yet more proof that FDR and his New Deal will ultimately be the death knell of this country.
I don't even expect to see a check, and I've planned accordingly. Me suspects many a Democrat has not.
Democrat, Republican or any other political affiliation is not relevant. People today don't save. People don't look forward. Sometimes because they can't and other times because they are too short sighted. But it is not just Democrats. Millions of people are going to be dependent on that money.
I'm the one that believes reality trumps ideology.
Full faith and credit is a two way street, that's something you cannot contemplate. Promises made on but not kept over decades, come back to bite us all in the end.
I say **** the system, before it ****s us.
Its nuts. The politicians refuse to address it. It was the albatross around our neck, now it is going to be the cause of our death. Look what is going on in Greece and tell me we are going to be ok spending and borrowing. It can't happen. Hoping it goes away is not an option. Sorry for all of you under 35...Social security was BS...it reality it was a tax. 35 and over...good luck...we will see what we can do. I hope we can give you a check at 65, but I guarantee you get one at 90. Sound good?
Yep, and it ain't gonna be there, so say hello to socialism full bore, 50 percent tax rates, and uncapped social security limits, and an increase in social securty rates overall. We're all going to be working for the state soon.
Either one believes in the full faith and credit of the United States or one does not. Which are you?
Either one believes in honoring the promises made to the citizens of the nation who fulfill their end of the bargain or one does not. Which are you?
Either one believes that money and revenues should first go to existing and long standing obligations before new ones are taken on or one does not. Which are you?
Democrat, Republican or any other political affiliation is not relevant. People today don't save. People don't look forward. Sometimes because they can't and other times because they are too short sighted. But it is not just Democrats. Millions of people are going to be dependent on that money.
Social Security reserves forecast to run dry in 2022 - Washington Times
SS on the brink, we were told 2030 something, it's a long way off, plenty of time to get it right...
No, it's a lot closer then you think. 2022is a mere 10 years off. It's time to end the fail, before it ends us.
i believe we should remove the cap, and increase the individual contribution.....i'm ok with paying for something i believe to be worthwhile.Yep, and it ain't gonna be there, so say hello to socialism full bore, 50 percent tax rates, and uncapped social security limits, and an increase in social securty rates overall. We're all going to be working for the state soon.
I don't.
We aren't.
They should.
i believe we should remove the cap, and increase the individual contribution.....i'm ok with paying for something i believe to be worthwhile.
So you do not believe in enforcing the Constitution regarding full fath and credit of the government of the United States of America.
You say "we aren't" in reply to my second question Either one believes in honoring the promises made to the citizens of the nation who fulfill their end of the bargain or one does not. Which are you?
What do you mean that we aren't? Who is not? I have dutifully paid into SS as instructed and mandated for the last five decades.
They will make adjustments to shore up Social Security. Medicare is the one to worry about.
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