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Social Security on verge of collapse ?

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  • Social Security on verge of collapse ?

    All that money we were forced to put in for all those years.

    Just another great sounding scam, you don't even have a right to "your" own money.

    "..the U.S. Supreme Court ruled in the 1960 case Flemming v. Nestor that the receipt of payments from the program was not a right, even where a participant had paid into the system for years." ?!?!?!

    That's what the supreme court 'ruled' ladies and gentlemen !

    Another government 'promise' gone to hell, where they all seem to go.

    What do we think ?

    -------------------------------------------------------------------------------------------------

    The coming collapse to Social Security as we know it

    ...the reality is that most Americans count on and expect that their Social Security, in its present form, will be there for them. But it will not at least that is what the current math unfortunately tells us.

    When you break down the birth rates between 1946 1964, you see that births peaked in 1957, followed closely through 1964. This means that about 70 percent of the Boomers have not even begun to retire yet, and beginning in 2022 the bulk of the generation will retire in a five to seven-year succession, one year after the next.

    In other words, our system is now approximately 2 full time equivalent payors for every 1 recipient receiving Social Security benefits, 2-to-1, costing us more than we are taking in, and 70 percent of this great generation has yet to even be a recipient in the system. (2018 Trustee report showing 2.8-to-1 includes all workers who worked at all during the year, and is not reflective of true contributors to system.)

    ..every time a Boomer retires, they are a double negative to the federal budget as they go from being a positive contributor through payroll taxes to no contribution with their retirement (the 1st negative impact) and then they move onto the system as a recipient (the 2nd negative budget impact). The lower birth rates of Gen X and Millennials, comparatively, not including surplus immigration, does not help.

    Before he was Speaker of the House, Paul Ryan asked the CBO to analyze these future problems back in 2008. The resulting report was unequivocal. If the benefits paid via Social Security, Medicare and Medicaid remained (at 2008 levels) with the retirement of the Baby Boomers, benefits would have to be cut, taxes would have to go up, or more likely BOTH.

    If you are one of those in the camp of no politician will ever be elected that will cut our Social Security benefits, as I so frequently hear in my work across the country, let me introduce you to another harsh reality. The timing of the mass retirement of our Boomer generation is colliding with the reality of our federal debt reaching an unsustainable critical mass.

    At around $22 trillion and climbing, we will not be able to debt finance these benefits for a sustained time period. Once we hit $30 trillion in total debt, which as forecasted could happen in less than 8 years with the projected $1 trillion annual deficits, interest servicing alone will cost us more per year than we spend on Medicare and the military combined a simple impossibility for the United States.


    https://www.foxbusiness.com/personal...-as-we-know-it

  • #2
    Newt Gingrich had it right. Privatize SS INTO PERSONAL RETIREMENT ACCOUNTS, but dont give citizens complete autonomy over them.

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    • #3
      Originally posted by DavidSF View Post
      Newt Gingrich had it right. Privatize SS INTO PERSONAL RETIREMENT ACCOUNTS, but dont give citizens complete autonomy over them.
      Whatever occurs, people should get ALL of their money back one way or another or this "social security" is nothing but another rip-off, perpetrated by the government on the people.

      ?


      • #4
        In addition to your points -- when the CBO claims that SS is solvent through 2037 -- they can only say this while including the $2.9 Trillion SS Trust Fund. The operation of this trust fund is literally a criminal operation. Any private sector CEO attempting anything close to this would be in jail for life:

        From 1937 through 2012 each year social security collected more money than it paid out. Instead of actually putting this money into a real Social Security Trust Fund it instead has been spent on budget for any number of other programs. Then the same money was double recorded in the books as the imaginary SS Trust Fund.

        In a next step that only the gutsiest of all criminals would attempt -- the stack of IOU's in the SSTF is then (according to the books) used to purchase treasury bonds. The bonds just like the fund are imaginary, of course, because you cannot buy real bonds with fake money.

        With gigantic balls of steel our Social Security Administration then claims interest income on the imaginary bonds and add this income to the already fake totals. This is where they get the $2.9 Trillion number commonly thrown around today.

        In the last six years SS payouts have surpassed collections -- requiring a certain amount be taken out of the SSTF each year to balance. But since the SSTF is imaginary to begin with the amount of shortfall is a direct hit on the yearly deficit. Yet in typical government fashion the non-partisan CBO scores SS as self supporting through 2037 while pretending the SSTF is actually real money.

        Seriously -- you can't make this shit up!!

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        • #5
          Originally posted by SupPackFan View Post
          In addition to your points -- when the CBO claims that SS is solvent through 2037 -- they can only say this while including the $2.9 Trillion SS Trust Fund. The operation of this trust fund is literally a criminal operation. Any private sector CEO attempting anything close to this would be in jail for life:

          From 1937 through 2012 each year social security collected more money than it paid out. Instead of actually putting this money into a real Social Security Trust Fund it instead has been spent on budget for any number of other programs. Then the same money was double recorded in the books as the imaginary SS Trust Fund.

          In a next step that only the gutsiest of all criminals would attempt -- the stack of IOU's in the SSTF is then (according to the books) used to purchase treasury bonds. The bonds just like the fund are imaginary, of course, because you cannot buy real bonds with fake money.

          With gigantic balls of steel our Social Security Administration then claims interest income on the imaginary bonds and add this income to the already fake totals. This is where they get the $2.9 Trillion number commonly thrown around today.

          In the last six years SS payouts have surpassed collections -- requiring a certain amount be taken out of the SSTF each year to balance. But since the SSTF is imaginary to begin with the amount of shortfall is a direct hit on the yearly deficit. Yet in typical government fashion the non-partisan CBO scores SS as self supporting through 2037 while pretending the SSTF is actually real money.

          Seriously -- you can't make this shit up!!
          No.

          But "the government" can.

          These people, they aren't just lawmakers, THEY ARE THE LAW !

          Which is why I've been telling the truth of our situation for awhile by calling them the new MOB, they ARE the new MOB.

          If they weren't, as you pointed out here; "The operation of this trust fund is literally a criminal operation. Any private sector CEO attempting anything close to this would be in jail for life:"

          and throughout the rest of your post, these people, AKA "the government," make law and they exempt themselves from it, even making special allowances IN "the law" to make their criminal manipulations seem legitimate and respectable, when they aren't.

          Only the MOB does this - has the power to make legal for themselves whatever they wish, and penalizing whatever and whomever they wish. They are "the law."

          Notice how these people aren't affected by the "laws" they manufacture for the rest of us to follow ? Notice how they only enforce "laws" that benefit themselves ? They've made the definition of "law" itself a very flexible thing. The MOB

          ?


          • #6
            Originally posted by Captain Trips View Post

            Whatever occurs, people should get ALL of their money back one way or another or this "social security" is nothing but another rip-off, perpetrated by the government on the people.
            First, Newts idea will never happen, but second to that, there is little chance ANY of us will get all of our money out of it. We cant even get the government to pay back what they stole from us.

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            • #7
              Originally posted by DavidSF View Post

              First, Newts idea will never happen, but second to that, there is little chance ANY of us will get all of our money out of it. We cant even get the government to pay back what they stole from us.
              Which is another example of why everyone in America should get scared as hell when these thugs in "the government" start creating, or even TALKING about creating new "programs" and/or "laws," entitlements etc.... like obama and his thieving "care."

              They sell this kind of theft to the people who will be victimized, the way thieves typically do. "You need this. You're going to like it. Life will be better for you..."

              And the American people still believe them ??? That's the real scary part.

              These _______'s do NOT have our interests in mind EVER, only their own.

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