The Ignored Crisis in Social Security

Discussion in 'Politics' started by Deacon, Aug 19, 2009.

  1. Deacon

    Deacon
    Expand Collapse
    Well-Known Member
    Supporter

    Joined:
    Aug 23, 2002
    Messages:
    6,970
    Likes Received:
    128
    Bachus Discusses Social Security and Health Care

    With increasing unemployment, increasing government spending and lowering tax revenues we’ve not reached the point were we can call “The Stimulus Package” as success.

    If fact it has significantly pushed up the date when Social Security will become a major deficit expenditure.

    “We could raise the retirement age, or in the worst case, cut back on some benefits,” he said. “But that is something we are just now beginning to get a handle on.” [Bachus]

    Who would have guessed that Obama would be the one to have to handle this problem that politicians have ignored for decades.

    No wonder he wants health care passed quickly; once the populace understands the Social Security problem and the necessary solutions, they will turn quickly on those in power, be they Republican or Democrat.

    Rob
     
  2. LeBuick

    LeBuick
    Expand Collapse
    New Member

    Joined:
    Jun 8, 2006
    Messages:
    11,537
    Likes Received:
    0
    What we need is Congress to pay back all the money they "borrowed" from the system. Then we need to pass legislation to make that money off limits.
     
  3. billwald

    billwald
    Expand Collapse
    Banned

    Joined:
    Jun 28, 2000
    Messages:
    11,414
    Likes Received:
    0
    >Then we need to pass legislation to make that money off limits.

    Exactly how? Fill Fort Knox with $100 bills?
     
  4. Deacon

    Deacon
    Expand Collapse
    Well-Known Member
    Supporter

    Joined:
    Aug 23, 2002
    Messages:
    6,970
    Likes Received:
    128
    As of 2011 my grandsons piggy bank would be big enough for the nations S.S. savings.
     
  5. targus

    targus
    Expand Collapse
    New Member

    Joined:
    Feb 10, 2008
    Messages:
    8,459
    Likes Received:
    0
    When Congress "borrows" the money - the Social Security fund is buying Treasuries.

    Do you think that it would be better for the fund to invest in the stock market?

    Or corporate bonds?

    Or buy gold?

    Or invest in real estate?

    Maybe Beanie Babies?

    This is why private accounts was and still is a good idea. If we each had our own money in our own account at least we would be responsible ourselves instead of relying on some politician to spend our retirement savings on their pet projects to get themselves re-elected.
     

Share This Page

Loading...