Off-Topic: Social Security Fiasco
(Gulf Shores - Orange Beach - Perdido Key Specific)
4 messages
Updated 9/16/2020 2:27:26 AM
Lakes Online Forum
83,645 messages
Updated 5/30/2024 11:45:00 PM
Lakes Online Forum
5,195 messages
Updated 5/31/2024 4:36:53 AM
(Gulf Shores - Orange Beach - Perdido Key Specific)
5 messages
Updated 6/5/2012 12:39:50 PM
Lakes Online Forum
4,169 messages
Updated 4/15/2024 11:05:05 PM
Lakes Online Forum
4,261 messages
Updated 5/28/2024 6:31:10 AM
Lakes Online Forum
2,976 messages
Updated 3/20/2024 11:53:43 PM
Lakes Online Forum
98 messages
Updated 4/15/2024 1:00:58 AM
Gulf Shores - Orange Beach - Perdido Key Photo Gallery
    
Welcome, Guest Select View Mode: [ classic | beta | recent ]
Name:   Mack The author of this post is registered as a member - Email Member
Subject:   Social Security Fiasco
Date:   3/14/2010 8:20:15 PM

Just read an AP article summarizing the status of the Social Security Balance Sheet, and I am royally P%$&^d!!

Per the article, the SSA collected more than they paid out as benefits. Congress elected to "Borrow" the excess to fund programs XYZ, backed by IOU's in the form of nonnegotiable Treasury Bonds. I suspect Mr. LBJ started that trend, and it has continued until now, WITHOUT REGARD TO POLITICAL PARTY CONTROL.

Now, funds going out are more than funds coming in to SSA. The excess funds have already been spent. Those IOU's need to be cashed into an economy that is already choking on debt.

The obvious choices are to either cut benefits and/or raise SS taxes, plus borrow more funds for the shortfall. Political suicide.

The total funds "borrowed" from the SSA account is $2.5 Trillion, according to the AP article, fully one fifth of the total National Debt this year.

Most of us are rational people, employing a "pay as You Go' discipline for the checkbook. Obviously, our representatives cannot control themselves likewise.
Other messages in this thread:View Entire Thread
Social Security Fiasco - Mack - 3/14/2010 8:20:15 PM
     Social Security Fiasco - Talullahhound - 3/14/2010 9:23:30 PM
          Social Security Fiasco - water_watcher - 3/15/2010 7:18:17 AM
               Social Security Fiasco - Talullahhound - 3/15/2010 7:58:05 AM
                    Social Security Fiasco - lotowner - 3/15/2010 9:17:34 AM
                    Hound, you are wrong on this one - MartiniMan - 3/15/2010 10:09:32 AM
                         No Happy Ending - MAJ USA RET - 3/15/2010 10:48:42 AM
                              No Happy Ending - Old Diver - 3/15/2010 5:16:56 PM
                         Hound, you are wrong on this one - Talullahhound - 3/15/2010 5:09:45 PM
                              But you are wrong about your reply to WW - MartiniMan - 3/15/2010 5:30:02 PM
                                   You misunderstood - Talullahhound - 3/15/2010 8:01:57 PM
                                        You misunderstood - MartiniMan - 3/16/2010 8:28:21 AM
                                             But - Talullahhound - 3/16/2010 4:18:08 PM
                                                  Not true everywhere - MartiniMan - 3/16/2010 4:48:24 PM
     What's the Solution?? - Mack - 3/15/2010 9:19:09 PM
          What's the Solution?? - MAJ USA RET - 3/15/2010 10:50:40 PM
          So, There is NO Solution?? - Mack - 3/16/2010 7:50:41 PM
               So, There is NO Solution?? - Talullahhound - 3/16/2010 8:38:05 PM
                    So, There is NO Solution?? - Summer Lover - 3/17/2010 7:08:10 PM


Quick Links
Gulf Shores - Orange Beach - Perdido Key News
Gulf Shores - Orange Beach - Perdido Key Photos
Gulf Shores - Orange Beach - Perdido Key Videos



About Us
Contact Us
Site Map
Search Site
Advertise With Us
   
GulfShores.USGulf.info
THE GULF SHORES - ORANGE BEACH - PERDIDO KEY WEBSITE

Copyright 2024, Coastal Town
Privacy    |    Legal