Social Security cuts are coming!
You never here about this in the election year! Always kick the can down the road is what your fearless Congress Person does for you until the train wrecks for all you baby-boomers! America the home of the blind man leading the deaf man!
A free election with representation is not what American politics is about! It's what you can get here and now! They could care less about the sheple and their future.
serf
https://www.consumeraffairs.com/news/aarp-unless-congress-acts-social-security-cuts-are-coming-081516.html
Out of money in 2034!
Here's why: when the Social Security Trust Fund is exhausted - currently projected for 2034 - automatic, across the board cuts in benefits take effect. The only way to prevent that from happening is for Congress to extend the life of the Trust Fund. It could do that by slowly reducing benefits now or by increasing the amount of Social Security and Medicare taxes that are collected.
In its analysis, AARP New York estimates the average retiree household in New York would see its income go down by $4,200 a year. An additional 197,800 seniors would fall below the poverty line, an increase of 63%.
To put it in perspective, the report's authors note that New Yorkers spend an average of $6,900 a year on groceries and $4,700 a year on utility bills. Losing $4,200 a year in income, they say, will have a major impact.
A free election with representation is not what American politics is about! It's what you can get here and now! They could care less about the sheple and their future.
serf
https://www.consumeraffairs.com/news/aarp-unless-congress-acts-social-security-cuts-are-coming-081516.html
Out of money in 2034!
Here's why: when the Social Security Trust Fund is exhausted - currently projected for 2034 - automatic, across the board cuts in benefits take effect. The only way to prevent that from happening is for Congress to extend the life of the Trust Fund. It could do that by slowly reducing benefits now or by increasing the amount of Social Security and Medicare taxes that are collected.
In its analysis, AARP New York estimates the average retiree household in New York would see its income go down by $4,200 a year. An additional 197,800 seniors would fall below the poverty line, an increase of 63%.
To put it in perspective, the report's authors note that New Yorkers spend an average of $6,900 a year on groceries and $4,700 a year on utility bills. Losing $4,200 a year in income, they say, will have a major impact.
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Odds are I will be dead by 2036. One thing that I would love to see is remove the cap on how much income you pay social security on. I doubt that anyone I know personally makes that much. The other thing is cut the administrative costs. 0 -
And yet we never hear of Welfare running out of money for the slugs who never put a cent in.
Medicare is already a screw job.0 -
The Trust Funds consists of IOUs held by and for the Federal Government that earn less interest than Iran received when they took our Embassy hostage in 1979.
Of course it will run out of money and of course pay outs will be cut. It is the only responsible thing to do. Cuts should have happened long ago, and they should start in 2017 to minimize their impact upon those that truly need the money.0 -
Disclaimer: I'm on the collecting end of SS, so I have a vested interest. I also have one hell of a balance of my money I may never get back.
The SS system was a FRAUD from day 1. Actuarial tables from 1911 were used and American working familys no longer fit that model and never would again.
The secondary fraud was that the average age of death for a US worked during the Great Depression was 56. Payouts didn't begin till age 65, so the system was structured to bring money in at a far greater rate than it paid out.
When the Congress of Convicts expanded the program to pay people Disability, especially people who had never paid in, the game was OVER.0 -
Another thing Mexicans at the tex mex border [:(][:(] here at age 62 now are receiving ss without ever sticking a single penny in[:(] 0 -
The first cuts are going to be means testing recipients for net income potential, cash/investments on hand and other hard assets. The "wealthy" can kiss SSI good by. 0 -
quote:Originally posted by Don McManus
The Trust Funds consists of IOUs held by and for the Federal Government that earn less interest than Iran received when they took our Embassy hostage in 1979.
Of course it will run out of money and of course pay outs will be cut. It is the only responsible thing to do. Cuts should have happened long ago, and they should start in 2017 to minimize their impact upon those that truly need the money.
Never met anyone who TRULY DIDN'T NEED THE MONEY. Maybe TRULY DIDN'T WANT TO GIVE UP THE MONEY, might be more like it.
Probably Warren Buffet / Bill Gates etc. don't need it. So, I get first dibs on Gates $2600+ a month.0 -
After 44 years of paying into SS, I would have been better off spending it on hookers and blow. 0
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