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re: Now Social Security could be depleted this decade
Posted on 4/23/20 at 10:17 am to Tigertracks
Posted on 4/23/20 at 10:17 am to Tigertracks
quote:
Congress will either raise the age for eligibility or just fund the shortage.
Fund it? Hell. Just pay back the IOUs.
The biggest blunder of all blunders was to open Social Security up for General Fund Borrowing.
About 2 trillion had been raided from SS since The lib president Lyndon Johnson began dipping his hands in it.
Posted on 4/23/20 at 10:45 am to CleverUserName
quote:
About 2 trillion had been raided from SS since The lib president Lyndon Johnson began dipping his hands in it.
This, and most people dont realize that. Johnson signed the bill but did not activate, every president since has, starting with jfk. They could not touch the principal but they could dip the interest. Its the dirty little secret no one on either side of the aisle wants to talk about.
I hear the argument, people are living longer. Do you think people who put together the program did not have actuary charts?????
Ironically, or predictably, states have followed the same program, only they have robbed the principal as well.
But this same govt makes companies submit to pensioners every year proof that they have the funds on hand to cover their retirement....do as I say not as I do.
Seriously, on this board, how many of you actually realized the fed govt has been dipping into it for over 50 years and thats the problem, not old people.
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