Social Security empty?

[Ringvireot]

Blah blah fuckin' blah! What will the Federal governemtn do to alleviate the problems with social security? For the past 25 or so years, the Social Security benefits has went in a backwards motion, knowing its trusts funds for retirees and people who are on disability welfares would evantually have their entitlements scrapped because they would somehow be aware later it's progressing to scams more than people who generally pay taxes.

[CrustyCurmudgeon]

I know this video is a few years old, but for anyone watching please know this: THERE IS NO S.S. TRUST FUND! It is an accounting trick using the worst of all accounting systems: govt math. If there really were trillions in that fund, how could Obama stand before the cameras at the recent debt struggle and say he couldn't guarantee the SS checks would go out if a shutdwn occurred? He let the truth slip out and no one in the press called him on it. There is no real money in the SS Trust Fund!

[MAINEPREPPER]

@CrustyCurmudgeon Ummm, he's lying?

[redviper2GAMER]

Obama takes $40billion dollars from social security.. You work for GE or Daves bake shop they tax deduct your money calling Social Security Union Tax. Dave sets on Welfare and you work. Dave lauges while he calls you a scab. You paid nothing. A federal workers own child is a excuse for govt. to deposit large sums of money in social security to make it strong as McDonalds called it a loss on the W2 form. Where is the $40billion I guess Obama has got this in the bag. politics did not pay

[MAINEPREPPER]

@redviper2GAMER GE got $4 Billion in corporate welfare. That's where the money is going, not these little imaginary anecdotes you come up with. The recession has created a temporary condition and it is being used by the upper 1% to eliminate programs which they hate. If we eliminate SS, the upper 1% will see a 6.5% surplus on their bottom line. That is why they want to rob the rest of us of our meager retirement.

[redviper2GAMER]

@MAINEPREPPER

Really. So who pays taxes? If GE tax deducts everything, and so does Mcdonalds, as you know the little bitty worker uses a w2 form ans most are on welfare that apply so who is the tax payer that gives U.S. dollars. Did you hear, when Russia, Germany and Asia was strong they loaned U.S. Big dollars. Who the H E**L going to pay it and with what tax as even the clothing on his backTrump talks of politics tax deducted the whole thing. Snyder the Mich. Govener who deducted GateWay

[mtoasty]

Social Security is a ponzi pyramid scheme that you or I would be arrested for if we tried to set it up. If you don't believe me, ask Bernie Madoff.

[MAINEPREPPER]

@mtoasty It's not a Ponzi Scheme; you need to read what a Ponzi scheme is. It can, will and does pay out to ALL who pay in and then some. Social Security created a surplus when the administrators tracked the demographics, adjusted he SS payments upward and reserved it for the future when they anticipated more recipients than payees. Unfortunately Reagan and Bush stole the money and gave it to the upper 1% in tax cuts. Time to pay it back and the upper 1% are fighting hard against it.

[mtoasty]

@MAINEPREPPER I know a ponzi scheme when I see one and SS is. Funny how you blame Bush and Reagan for taking SS funds, a practice that started with LBJ in the 1960's and has continued with every administration since. TO blame only the GOP Presidents is laughable and shows your partisan falsehoods.

[n5ifi]

Democrats said that the annuity payments to the retirees would never be taxed as income. Democrats changed that so that up to 85% of your Social Security can be Taxed. Which party was in charge and made these changes? Democrats!

Which party allowed Immigrants to move into this country, and at age 65, receive Social Security payments! The Democratic Party gave these payments to illegal immigrants, even though they never paid a dime into it.

[MAINEPREPPER]

@n5ifi That definitely needs to be rescinded; Social Security and its funds need to be left alone for their intended purposes.

[PamelaRP]

The government needs to stop all of the SS fraud and abuse in the system. Most people that are on SS can work and they should have to work to get their checks especially if they have nothing at all physically wrong. I have been trying since 1998 to get benefits and have severe severe arthritis and cannot even walk yet they tell me I am not disabled enough and I was over the income threshold called SGEI. I know people I used to work with that are not 62 and are getting it and have nothing wrong.

[MAINEPREPPER]

@PamelaRP I see, so because you are suffering, everybody else has to suffer also? My mom is 81 and in a wheelchair; I guess we can push her down to WalMart and she can be a greeter?  Never mind that she paid into SS with the promise of retirement, no, we need to make her suffer because you have to suffer. Enjoy your Tea Party rally.

[dontliethetruth]

SS trustees stated SS is solvent til 2040 and then a decline is coming if nothing is done at an annual GDP growth of 1,3%. US GDP growth on average post WWII is 3 %.

SS is solvent except that reagan, clinton and bush robbed the fund of its surplus. that's why people go around saying theres not enough revenue

[MAINEPREPPER]

@dontliethetruth Precise and accurate! Add President Obama to the list.

[Karmiangod]

The problem isn't Social Security, the problem is Medicare, Medicaid, and the other programs that aren't funded separately. But, in 2016, the surplus will turn into a breakeven. Then in 2020, early, it will become a deficit.

[dontliethetruth]

@Karmiangod not even that mate. that was an estimate by the bush administered SS analysis when he tried to privatise it. it is insolvent by 2020 when all the actual surpluses are still being in robbed state after it was used to fund the wars.. the SS surplus has been transformed into treasury IOUs that arent being counted.

i agree, medicare is a problem but its the bills that are too high. too much waste in the system

[dontliethetruth]

aha.. and what bout the defense and bank bailout program, dare one call it corporate welfare program.. no mention here huh? and those didnt even run surpluses for a year let alone decades.

no it's good, let your corporatist media and your government rob you off your SS and medicare money that you paid for.

[Mastinox803]

I love the video description. Do you remember when Bush signed medicare plan D into law? You people that play the left-right game are morons.

[oterj0]

@Mastinox803

Medicare plan D was a bad idea, no doubt, but since when do Dems oppose unfunded expansions of govt? Oh, I forgot, they oppose it when the person doing it has an R by his/her name. Very principled for sure.

[Mastinox803]

@oterj0 since when do republicans oppose unfunded wars in the middle east? Both parties are to blame for the debt. Depending on what party they affiliate themselves with indicates which deficit spending they will justify.

[oterj0]

@Mastinox803

True, but you can at least point out the hypocrisy with Reps and try to convince them of the error in their ways. With Dems, they're happy to point out deficit spending on wars, but when it comes to social spending, it's not that they recognize the hypocrisy and move on, they flat out say it must be deficit spending or else it won't be economically stimulative. Wars last years, entitlements go on ad infinitum. Both parties are to blame, but the Dems get the lionshare for sure.

[woolgathered]

Last time I checked, the investment houses and banks went bust last year and Social Security is still here. You call the "trust fund" a joke, but its not nearly as funny as the 40 to 1 lending practices these bankers tried to get away with. If the Dems are Commies, then the Repugs are Fascists.

[oterj0]

@woolgathered

You do recognize that the govt operates by threat of retaliation, correct? If you don't do what they tell you, you go to jail. That SS is still alive is simply a reflection of the coercive nature of it and the fact that our nations' creditors have yet to stop lending us money. Just wait until our credit rating goes down the tubes and people stop lending the US money. SS will have problems in VERY short order.

[Waldocounty]

You thought Madoff was bad? Social(ist) Security is the biggest Ponzi scheme of all time, bar none.

[thelistener13]

If you believe that there's plenty of money in Social Security, I;ve got a bridge I'd like to sell ya.

[filoviriae]

The "trust fund" is a joke. It doesn't have cash or liquid assets!

[vllmer]

Whoops! Gotta watch that new math....

[Spectreman]

Well isn't that nice.

[medlock01]

If i had put all my 'donations' to SS into a basic savings account I would have great money in there.

Instead I am saddled with the Democrats version of freedom: the compulsory rat-hole of Socialist Security.

[dartrip4]

which is sooo much better than a privately run bank corporation raping your retirement fund to cover its own ass at bad mortgages it bought from homeowners who got screwed?! get a clue man, BOTH parties are full of shit!

[oterj0]

@dartrip4

the difference is that SS is coercion. My idea would be to allow people to remain in SS is they like, but to also allow voluntary opt outs. If someone chooses to opt out of the system, then they forego all owed benefits. Opt outs would improve solvency and increase freedom. It's a win-win. Would you support?

[dontliethetruth]

@oterj0 when you live in a nation state you submit yourself to coercion. abiding by laws is coercion and a sacrifice of individual freedom. but this has to be done to guarantee human rights and liberties to everyone.

if you allow people to opt out every affluent person will opt out and that will put SS in trouble. but its aim is to save economic liberty for retirees, so you can't go without a mandate if you wanna have a MINIMUM standard of living for folks who worked their entire life

[oterj0]

@dontliethetruth

I remember someone saying that he who sacrifices liberty for security deserves neither, but whatever. Of course I understand govt is about order and we cant just do whatever we want, but how does this justify SS?

I believe in govt preserving freedom to prosper, not guaranteering it. I dont believe in a min standard of living. I believe society is best served when everyone has a healthy fear of starvation and thus works hard and accepts accountability for their well being.

[MAINEPREPPER]

@dontliethetruth Excellent points and good post. Not only will the affluent opt out of this but if you let people pick and choose which programs and services they want, they will opt to not pay for anything whatsoever. They will come up with lunacy like "privatization" which is a euphemism for let someone else pay for it or hand the money to Wall Street lol!

[redviper2GAMER]

@MAINEPREPPER Reform is what is needed yes bush asked. Benefits should be reviewed. If disability you can only live from what you get. The VA benefits are still SSD income some no brainers call Welfare. I receive SSD/DSI, my doctor applied using SSI legal assistance to protect him/ me as many threats, the company paid over $18million in medical expenses to SSI/SSD and every dollar I receive they pay no matter what. Some receive for no reason but then again somebody pays big!