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Started By
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How come the Social Security Fund is frequently discussed as going broke
Posted on 3/28/14 at 2:17 pm
Posted on 3/28/14 at 2:17 pm
In the near future but you never hear of the Welfare Fund ever running dry?
7
Posted on 3/28/14 at 2:20 pm to Asgard Device
A fund for people who vote for a living.
Posted on 3/28/14 at 2:20 pm to doya2
Because that kind of welfare spending is discretionary and not guaranteed for the entire population.
Most direct transfers (other than SS) are a drop in the bucket, in budgetary terms.
Most direct transfers (other than SS) are a drop in the bucket, in budgetary terms.
Posted on 3/28/14 at 2:20 pm to doya2
Because, until they stopped mailing you your SS statement, you could see the countdown until SS would be bankrupt each year 
huh?
quote:
Welfare Fund
huh?
This post was edited on 3/28/14 at 2:22 pm
Posted on 3/28/14 at 2:38 pm to doya2
quote:They are funded entirely different. SS being dedicated funds, welfare coming from general discretionary revenue.
In the near future but you never hear of the Welfare Fund ever running dry?
Posted on 3/28/14 at 4:33 pm to Taxing Authority
quote:
They are funded entirely different. SS being dedicated funds, welfare coming from general discretionary revenue.
Right. A general budget items can be paid by simply borrowing more money.
Posted on 3/28/14 at 4:47 pm to Taxing Authority
quote:
SS being dedicated funds
Well - about that... in theory, yes. In practice, no.
Since we are deficit spending out the wazoo - all of the money comes from the same place - income/payroll and other federal tax sources.
The fact they go through the hoops to allocate the money to the trust fund, on paper, then immediately issue an IOU(i.e. treasuries) and spend the money like all the other money that comes in starts to make this paper distinction just a tad too academic for my tastes.
It is essentially propaganda and a program to buy senior citizens' votes with their own money - a classic government trick which few even realize is happening, and even fewer fully understand.
This post was edited on 3/28/14 at 5:51 pm
Posted on 3/28/14 at 5:10 pm to Ace Midnight
I read a report today about the government looking at stopping the File and Suspend Social Security strategy because too many affluent people with good advisors are taking "advantage" of it compared to the less affluent. Even though its completely legal and allowed based on current law. Soon there will be a means test and higher income people will not be allowed to get SS or it will be greatly reduced amount.
This post was edited on 3/28/14 at 5:11 pm
Posted on 3/28/14 at 5:17 pm to Ace Midnight
quote:
It is essentially propoganda and and a program to buy senior citizens' votes with their own money - a classic government trick which few even realize is happening, and even fewer fully understand.
Posted on 3/28/14 at 5:48 pm to goldennugget
Welfare is doled out to those who have a need for assistance, social security is payments for funds rendered in advance. Don't worry though, most likely I will not live long enough for y'all to pay me back.
Posted on 3/28/14 at 6:18 pm to doya2
I somehow entered this answer into the wrong thread earlier. Congress has been borrowing money from Social Security general fund for forty years and never paying back one dime into it. That is where all of the welfare spending got its funding from in fact.
Posted on 3/28/14 at 6:30 pm to CITWTT
true dat.
Posted on 3/28/14 at 10:28 pm to doya2
In government accounting we learned all about the different funds. It's scary to think where shite can be hidden. The "social security fund" is really just a part of what is referred to as the "general fund." It is, in every since of the definition, a massive Ponzi scheme.
Posted on 3/29/14 at 12:02 am to JumpingTheShark
quote:
It is, in every since of the definition, a massive Ponzi scheme.
Racist, right-winger who hates old people while conducting a war on women!
Posted on 3/29/14 at 1:54 am to Ace Midnight
quote:Stating this
Well - about that... in theory, yes. In practice, no.
Makes stating all this pointless
quote:
Since we are deficit spending out the wazoo - all of the money comes from the same place - income/payroll and other federal tax sources.
The fact they go through the hoops to allocate the money to the trust fund, on paper, then immediately issue an IOU(i.e. treasuries) and spend the money like all the other money that comes in starts to make this paper distinction just a tad too academic for my tastes.
It is essentially propaganda and a program to buy senior citizens' votes with their own money - a classic government trick which few even realize is happening, and even fewer fully understand.
but thanks
Posted on 3/29/14 at 3:29 am to doya2
Social Security is money that is taken out of my check that I supposedly will get back when I am old but I will never see a dime of it.
Welfare is payed out of money taken out of my check that is immediately given to someone else.
Welfare is payed out of money taken out of my check that is immediately given to someone else.
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