Social Security

Social Security—It’s not “going broke” in 50 or 75 years … it’s broke today.

Lets set the record straight about Social Security. It’s not “going broke” in 50 or 75 years … it’s broke today.

The system’s unfunded liability is $32 trillion, according to the “infinite horizon” projection in the Social Security and Medicare Boards of Trustees’ annual report. This is the present value difference between a) all the system’s projected benefit payments and b) all the system’s projected tax receipts plus the existing trust fund. This unfunded liability measure is called Social Security’s fiscal gap. It’s formed over the system’s entire projected future.


Source: 10 ways to fix Social Security—commentary

Politicians won’t tell you the truth. 😡 When Americans are told the truth, they refuse to believe it. 🙄 Americans readily believe ridiculous rumors about Social Security such as Congress stole the trust funds. 😜 The vast majority of Americans “support” expanding Social Security without regard to the current fiscal situation. 🤑 Many older Americans foolishly have reached old age depending mostly (sometimes entirely) on Social Security. 😁 Politicians and Americans are incapable of taking a long-term strategic view. 

Americans believe that Social Security can be fixed painlessly by having only the “wealthy” carry the burden (otherwise known as the better educated, skilled, hardest working, risk takers, planners, doers and achievers). They are misinformed 😱

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Categories: Social Security

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3 replies »

  1. SSW is just one. The basis of my article comes from :

    https://lindasanchez.house.gov/media-center/press-releases/reps-linda-s-nchez-introduces-strengthening-social-security-act-2016

    This is a cast of idiots. The worst is Terry O’Neill of NOW who said “Increasing monthly insurance benefits for widows and widowers, and adjusting the means for calculating seniors’ cost-of-living requirements, will have a measurable impact on women’s lives.” Widows are specifically excluded as I read the material from the SSA.

    My guess is that they haven’t read word one of the proposal.

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  2. I am not sure that the support to expand Social Security is there. I sense that the issue is entirely about re-centering the debate, positioning it further from benefit cuts. The debate seems to be there is no reason to cut benefits when some are arguing about expanding them. That seems to be working.

    Have you looked at what expand SS means? Here is a piece that I wrote on the Sanchez’s legislation introduced last Friday. I think you will be surprised by what expand means.

    http://www.fedsmith.com/2016/09/15/changing-to-elderly-index-for-cola-calculation-will-be-insignificant/

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    • Good article. I know expand is not what seniors expect which is a big bump in their monthly benefit. Have you ever read the stuff out out by Social Security Works and the comments they get on Facebook. They mislead an outright lie and people lap it up as gospel. I commented on their site correcting what they say and then they locked me from any comments.

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