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Social Security Board of Trustees: Some Improvement in Long-Range Financing Outlook but Deficits Continue
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Don't Expect to See A Penny
Uncle
Tue Mar 25, 2008 6:46 PM
Post Reply
If you're under age 40 don't expect to see a penny of scoial security money. Sorry.
Don't trust the trust fund
DHHS
Wed Mar 26, 2008 9:24 AM
Post Reply
I do not trust the "trust fund". I do not trust politicians with the trust fund, because they are spending it. Most news articles skip over this fact, calling the Social Security money "invested in government bonds". Guess what? Borrowing from yourself is NOT investing. Here's an example:
1. Take all of the money from your paycheck.
2. Put it in your right pocket.
3. Take it out from your right pocket, & put in an IOU promising to pay yourself back with interest.
4. Put the money in your left pocket.
5. Spend all of your money from your left pocket.
On paper, you still have all of your money, right? How much of it can you spend? Nothing! You have to work harder to pay yourself back with interest. This is what the Congress is doing with our Social Security money. Just substitute "account" for "pocket", and "government bond" for "IOU". I cringe when I hear a politician say the Social Security Trust Fund is "invested" in government bonds. THEY spent it, and WE have to pay it back!
Re: Don't trust the trust fund
DoD
Thu Mar 27, 2008 7:32 AM
The big lie is that there IS no trust fund. If there was a trust fund why does Congress not tell us what the fund is invested in and what rate of return it is getting?
Paying for other programs
FDIC
Wed Mar 26, 2008 10:04 AM
Post Reply
Well, I'm glad to hear that SSA thinks there will be money left to pay benefits for a few more years, but I agree with the comments that we shouldn't count on it. Social Security should have been running a significant surplus for decades as there were more workers paying in than those being supported by payments, but Congress has continuously allowed that money to be withdrawn to pay for other programs. Social Security should have been untouchable for years. I look at those taxes as an investment in MY future, not a bottomless pit for funding unrelated programs.
Bottom line: I'm glad my mother has been able to draw benefits for years.
My advice: Save as though it won't be there when you retire. Then, if it is, it will just be the supplement that it was always intended to be.
Re: Paying for other programs
DOD
Wed Mar 26, 2008 12:58 PM
Paying for other programs
DA
Wed Mar 26, 2008 2:44 PM
Post Reply
Social Security was once invested but in the sixties it was made a line item in the Federal budget and started paying for planes, highways and judges. It needs to be put back to the way it was and paid back all the funds that were stolen out of it with interest ! The DHHS lab manager is right and I plan not having return on the money I paid into this crooked system. I doubt that our congress can make things right again with S.S.
SS
DoD
Wed Mar 26, 2008 3:22 PM
Post Reply
It is immaterial whether or not someone says there will be funds in the SS pot in the coming years. There will be some form of payout to citizens for their years of input--count on it. The sad part of all this is that social security was never intended to be a retirement program. It was supposed to be a supplement. What most of America failed to do is save enough aside from their SS input to have financial well-being in their golden years. Instead of saving we all bought our houses, cars and boats and just said, "The govt (SS) will take care of me when I retire." How sad it that? Did you really expect to live on less than a thousand dollars a month for the rest of your life????
Immigration
SSA
Wed Mar 26, 2008 6:35 PM
Post Reply
So if we have a group of people willing to come here and work and pay into SS-why oh why do we turn them away? We need rules similar to the SAWS alien regs which makes aliens ineligible for any public assistance benefits for X number of years. After 14 years at various welfare offices seeing US citizens too lazy to work and pay taxes, and having more kids to get more money, I would rather convert the "under the table but willing to work" families to taxpaying citizens.
Re: Immigration
DON
Thu Mar 27, 2008 5:36 AM
SS Payments
VHA
Thu Mar 27, 2008 7:30 AM
Post Reply
If I did not have social security, Medicare taxes, etc. taken from my salary for over 30 years, I would not need Socail Security - I would be wealthy. If I could have invested the 300-800 dollars per month, I would not need to worry about retirement.
Re: SS Payments
ssa
Mon Mar 31, 2008 6:37 PM