Social Security to start cashing Uncle Sam's IOUs

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Are you sure?

France are having problem too, Russia another country that had same problem and yes they collapsed, many other countries are having same problem so USA is not the only country that has money issues.


souggy said:
Other countries have programs similar to SSA, and they don't have a deficit problem... nor are they worried about people cashing them in. :)

It's the misuse of government money that led you guys into this mess, not social security.
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diehardbiker said:
Are you sure?

France are having problem too, Russia another country that had same problem and yes they collapsed, many other countries are having same problem so USA is not the only country that has money issues.
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I was thinking of countries whose bankings are based on the Scottish conservative school of thought. ;)
 
kokonut said:
George Bush warned several years back that SS need to be reformed, Democrats laughed in his face over that. Looks like he was right all along. But I consider the SS to be a Ponzi scheme. The last one's a sucker.
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The majority in Congress was Republican during G.W. Bush until Jan 2007. :roll:
 
Foxrac said:
The majority in Congress was Republican during G.W. Bush until Jan 2007. :roll:
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Not during 2001 and 2002....The senate was evenly split.then went the dems
 
Yah, and the Dems thought it was great to have a Ponzi scheme but Bush warned them of the folly of such and will collapse on itself. They even still think its great today.
 
kokonut said:
Yah, and the Dems thought it was great to have a Ponzi scheme but Bush warned them of the folly of such and will collapse on itself. They even still think its great today.
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Toobad, reform the Social Security into market will not help at all due stock market crash.

Thanks to democrat to block any SS reform into market, that's what I'm not looking for it. ;)
 
TXgolfer said:
Not during 2001 and 2002....The senate was evenly split.then went the dems
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Yup, I remember about senate was split until Jan 2003 so thanks for remain me.
 
Foxrac said:
Toobad, reform the Social Security into market will not help at all due stock market crash.

Thanks to democrat to block any SS reform into market, that's what I'm not looking for it. ;)
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Can you explain to us how SS works?
 
kokonut said:
Can you explain to us how SS works?
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I know about how SS works, it is depends on how much workers are paying SS into retired Americans, that is how existing SS works today, from workers to pay into retired people.

I'm side with democrat over SS issues.
 
Foxrac said:
Toobad, reform the Social Security into market will not help at all due stock market crash.

Thanks to democrat to block any SS reform into market, that's what I'm not looking for it. ;)
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Actually the fact that it already crashed helps. And as we talked about before there are safer parameters for investing long term....There is not much we can do about this baby boomer mess.
 
souggy said:
Other countries have programs similar to SSA, and they don't have a deficit problem... nor are they worried about people cashing them in. :)

It's the misuse of government money that led you guys into this mess, not social security.
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Absolutely.
 
Foxrac said:
I know about how SS works, it is depends on how much workers are paying SS into retired Americans, that is how existing SS works today, from workers to pay into retired people.

I'm side with democrat over SS issues.
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No.

It's people paying into their own SS. What happened is that the government took the SS fund that was entrusted into them by the taxpayers... and used it to spend on other PROGRAMS.

Problem is now that people are cashing them in, and are saying "WHERE IS MY MONEY?" while the government is unable to come up with anything because they're too busy spending money on other things.

It was intended so that people could have money for later, and other people could use it as long they're contributing to the pot. It wasn't intended for the government to redistribute money into other welfare programs-- hence the collapse.
 
souggy said:
No.

It's people paying into their own SS. What happened is that the government took the SS fund that was entrusted into them by the taxpayers... and used it to spend on other PROGRAMS.

Problem is now that people are cashing them in, and are saying "WHERE IS MY MONEY?" while the government is unable to come up with anything because they're too busy spending money on other things.

It was intended so that people could have money for later, and other people could use it as long they're contributing to the pot. It wasn't intended for the government to redistribute money into other welfare programs-- hence the collapse.
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My answer would be much better if it is explains in ASL. :roll:

In US, the social security that where employees are paying social security to US government so that how retired people to receive a social security paycheck, it is just like pensions, even social security is also used on welfare to help people as well.

I learned from history teacher at high school so don't point at me if I'm wrong since it is really basic thing to know.
 
souggy said:
No.

It's people paying into their own SS. What happened is that the government took the SS fund that was entrusted into them by the taxpayers... and used it to spend on other PROGRAMS.

Problem is now that people are cashing them in, and are saying "WHERE IS MY MONEY?" while the government is unable to come up with anything because they're too busy spending money on other things.

It was intended so that people could have money for later, and other people could use it as long they're contributing to the pot. It wasn't intended for the government to redistribute money into other welfare programs-- hence the collapse.
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And not just the workers, but the employers who must contribute matching funds in the employee's name. For instance, if you had 22.00 withheld from your check in SS contribution, there was actually 44.00 deposited under your name, after the employer paid their matching contribution.
 
Foxrac said:
My answer would be much better if it is explains in ASL. :roll:

In US, the social security that where employees are paying social security to US government so that how retired people to receive a social security paycheck, it is just like pensions, even social security is also used on welfare to help people as well.

I learned from history teacher at high school so don't point at me if I'm wrong since it is really basic thing to know.
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I think what you are trying to say is that the working people who are making contributions today are having that money spent to pay the benefits of the retired worker. Kind of like robbing Peter to pay Paul.

Correct me if I'm wrong, Foxrac.
 
jillio said:
I think what you are trying to say is that the working people who are making contributions today are having that money spent to pay the benefits of the retired worker. Kind of like robbing Peter to pay Paul.

Correct me if I'm wrong, Foxrac.
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Yup, that what I was means.
 
jillio said:
And not just the workers, but the employers who must contribute matching funds in the employee's name. For instance, if you had 22.00 withheld from your check in SS contribution, there was actually 44.00 deposited under your name, after the employer paid their matching contribution.
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We employers get to take that nice double hit when it comes to ourselves too.
 
jillio said:
And not just the workers, but the employers who must contribute matching funds in the employee's name. For instance, if you had 22.00 withheld from your check in SS contribution, there was actually 44.00 deposited under your name, after the employer paid their matching contribution.
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problem is..... when it's time to cash in... there's nada for me and my generation :(
 
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