Is social security a problem or not?

[Bill]

I've been reading the last day or so about a little flap started by Obama - some dems are upset because he's using a republican talking point, that social security is bankrupt, to argue against Clinton.

The dem centrist argument is that social security is good til 2050, so it's not an issue now.

The social security skeptics say the fund has been drained to pay for other things, so the appearance of their being money is only as good as ameica's credit rating.

The centrist dems say it don't matter, as long as there's an america the borrowed money will be paid back to the retirees.

So, whattya think, is social security fucked, or not?

[Independent Harry]

Social Security is in a lot of trouble. The problem is that by 2040 something, they will have to decrease benefits by at least a quarter, and then if nothing else is done, decrease them every year on out.

The problem is SS isn't in a vacuum. That is assuming all other things stay the same. It doens't even factor in increased Medicare costs, increase national debt, rampant inflation we are experiencing with the dollar, and other costs of goods and real estate and oil. So the reality is, the governments view is completely skewed about when the problem will arise, SS will be good until 2050, but we won't be able to continue to pay for it all. They are just trying to put the problem off, because in order to fix it, you have to increase taxes (not good for getting elected) or decrease spending (no one but Ron Paul wants to do that) or both. Or flood the system with more money, which just hurts the middle and lower class. Imagine trying to do both or all of them, so its something everyone would rather avoid and just put it on the poor smuck for a president that gets elected in 2050.

We should be more like the Japanese and take a long term view and do what's good for the long term, not just whats going on over the next 4 years...

[Moby]

They can get rid of SS as soon as they give me money.

It isn't bankrupt any more then the USA is bankrupt. It's heading in the that direction and the Reagan and Bush have looted our credit line so we're in big trouble but it's not bankrupt.

Is it in massive trouble. Yes.

[Smurf-Herder]

Both parties are avoiding things we need to do soon, to avoid a disaster.

Bush tried to do something to head it off, by allowing some money to be put in stock, to be sure it would be there by retirement time. Imagine having some of your social security money owning Google stock, when it was first offered?

But it was defeated, by those who just want to keep pushing it off on the back burner.

[moonman]

We learned in the 1960's this nation can't afford both guns and butter. I say more butter, fewer guns.

[disrupter]

Bush's privatization would have COST an ADDITIONAL TRILLION DOLLARS just to set up & done nothing to address the existing deficit.

It was another corporate welfare project, Wall Street Welfare for the hyper-rich.
The same geniuses that bankrolled the sub-prime project.
boy that is a place to make money . . . . . . um, ok, maybe not?
But Bernanke's bail out is for the big money & screw the value of the dollar.

We simply don't have an expanding young worker base to support the large numbers of soon to retire.

Yes, shit will hit the fan.
Q: will it completely break or stop the fan from working?
jury is still out.

I would say you can do your own saving, but because the ballooning deficits the value of the dollar is plunging.
Even the last stalwarts, the Chinese are advising their people to shift savings out of dollars.

The collapse of the dollar is a direct result of looting the treasury by the NeoCrooks with assists from Bernanke.

They get rich, you get their worthless IOU.

[Moby]

Both parties are avoiding things we need to do soon, to avoid a disaster.

Bush tried to do something to head it off, by allowing some money to be put in stock, to be sure it would be there by retirement time. Imagine having some of your social security money owning Google stock, when it was first offered?

But it was defeated, by those who just want to keep pushing it off on the back burner.
Think about it for a minute. These are the people that put together the S&L plan, the mortgage plan and the energy policy.

They're planning on ripping you off just like they have in the past. Think about the volume at hand.