Social Security Expected to Dip Into Its Reserves This Year

Discussion in 'Current Events' started by MolonLabe2009, Jun 5, 2018.

  1. MolonLabe2009

    MolonLabe2009 Banned

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    Just another failed government pay-as-you-go Ponzi scheme social program.

    Privatize social security and make it optional.
     
  2. nopartisanbull

    nopartisanbull Well-Known Member

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    Last edited: Jun 5, 2018
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  3. tharock220

    tharock220 Well-Known Member

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    There is no trust fund, only government debt.
     
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  4. Kode

    Kode Well-Known Member

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    DUH! It happens EVERY year. That is what the Trust Fund ("reserves") are for.

    Another case of the right trying very hard to push austerity and collapse of society and economy.
     
  5. danielpalos

    danielpalos Banned

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    Making it optional means some people will not choose to make that option, and we will still have social costs.
     
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  6. Kode

    Kode Well-Known Member

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    Riiiiight. Only $2.8 TRILLION left in the Trust Fund. -

    [​IMG]

    Why do people assert confidently what they know ZERO about?
     
  7. Kode

    Kode Well-Known Member

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    Right. It's just a scheme to kill the whole thing.
     
  8. danielpalos

    danielpalos Banned

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    Not solving for social problems is why we have more socialism.
     
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  9. JET3534

    JET3534 Well-Known Member

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    Over the years I have had many discussions with many idiots who don't comprehend that what you say is true. The "special securities" held by the SS Trust Fund are totally worthless. Social Security has been looted by both political parties. It would have been nice if over the years surplus funds had been invested in real securities (marketable assets) such as any real pension fund would have done.
     
  10. Kode

    Kode Well-Known Member

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    Nah. We don't have socialism. We do have a few socially beneficial programs though. But the workers don't run any of them.
     
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  11. JET3534

    JET3534 Well-Known Member

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    Are you claiming an IOU is an asset?
     
  12. nopartisanbull

    nopartisanbull Well-Known Member

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    Technically, intragovernmental holdings are currently being swapped to public debt, and that's not good.
     
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  13. Kode

    Kode Well-Known Member

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    Nope. No truth to that. Zero. They represent real invested assets. Their only distinction from the usual T-bills, bonds, and notes is that they cannot be sold on the open market, but since they are "fixed assets" and not equity investments, market demand has no effect on them. They're like a savings bond you might hold. You can't sell it on the open market but it has real value.
     
  14. Kode

    Kode Well-Known Member

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    Sure.
    "A company's IOU is counted as an asset on the balance sheet because another party owes that company money or goods. This usually happens when a business provides products or services to be paid later, such as after 30 or 90 days for short-term agreements. An IOU for outstanding receivables is a current asset if the term is one year or shorter. For IOUs longer than a year, accountants consider this a long-term asset. "

    https://www.investopedia.com/terms/i/iou.asp

    See, it's much easier to pretend and believe you're smart and informed if you only talk to idiots.
     
    Last edited: Jun 5, 2018
  15. Kode

    Kode Well-Known Member

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    What's the alternative?
     
  16. Kode

    Kode Well-Known Member

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    That is illegal. Can you figure out why?
     
  17. danielpalos

    danielpalos Banned

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    Unemployment compensation simply for being unemployed, should solve Labor's problem with Capitalism's, natural rate of unemployment.
     
  18. nopartisanbull

    nopartisanbull Well-Known Member

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    A budget surplus

    ......According to SS Trustees, and Treasury Direct, when a budget is in a deficit, intragovernmental holdings are converted to public debt, thus, from non-marketable securities to marketable securities.
     
  19. JET3534

    JET3534 Well-Known Member

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    In this case the IOU will never be redeemed since the money is long gone. You know it, I know it, and anyone with any sense knows it.
     
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  20. MolonLabe2009

    MolonLabe2009 Banned

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    If I was allowed to opt out of SS and take that money that is now currently confiscated out of my paycheck for SS and instead invest that money into my 401K on top of what I already invest into my 401K, then I would be able to retire a millionaire before I was 60.
     
  21. 61falcon

    61falcon Well-Known Member

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    A bit late to think of privatizing it now.Also just look at how many private pension plans went out of business without paying out a dime to the employees currently working in the 1980's, after the introduction of the 401K,over 100,000.We need to raise the ceiling on S.S. withholding to $500,000 and raise the rate to 7% for employee and employer.
     
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  22. MolonLabe2009

    MolonLabe2009 Banned

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    We are over $20 trillion dollars in debt.

    I'm glad that I was able to clear that up for ya!
     
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  23. GrayMan

    GrayMan Well-Known Member

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    That would be pointless. That akready exists. Its called a savings account. The purpose of social security is to have those with money pay for those who could not or did not save up for retirement.

    In any case the money you recieve at an old ripe age is nothing so I don't understand where it is all going except for maybe people with 'disabilities'.
     
  24. Kode

    Kode Well-Known Member

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    Apparently you don't know how little you know. Those securities have been redeemed every year recently. I'll be you don't even know HOW they are redeemed, do you? See how little you know?
     
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  25. Andrew Jackson

    Andrew Jackson Well-Known Member

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    How else would you expect anybody on the RW to manufacture a post count?

    Oh, and on topic, I am not too worried about the Social Security reserves.
     

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