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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    Spending is the fricking problem, not tax cuts.
     
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  2. MolonLabe2009

    MolonLabe2009 Banned

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    SS is a government mandated pay-as-you-go ponzi scheme is is NOT fine.
     
  3. Kode

    Kode Well-Known Member

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    Plenty of wealthy folks and pension funds hold Treasury securities. Are you telling me they've been suckered and their Treasuries are worthless?
     
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  4. JET3534

    JET3534 Well-Known Member

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    I would prefer them to be invested in actual assets in the manner of a real pension fund. An asset is something that can be bought and sold. Blue chip stocks, real estate, etc. For the people that think a US Government IOU means you haven't been [expletive] out of your money well good luck.
     
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  5. Kode

    Kode Well-Known Member

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    Your uninformed opinion.
     
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  6. nopartisanbull

    nopartisanbull Well-Known Member

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    See Australia, Canada, Denmark, Norway's and several other countries' Social Security Trust Fund's portfolio, and all of the above have earned an annual compounded rate of return of at least 6%, whereas Government Account Series are currently earning an average interest rate of 2.7%.
     
  7. JET3534

    JET3534 Well-Known Member

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    Securities that can be traded are not worthless. "Special securities" that cannot be traded are worthless.
     
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  8. JET3534

    JET3534 Well-Known Member

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    Both political parties have been looting the fund.
     
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  9. GrayMan

    GrayMan Well-Known Member

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    Yeah, too much military spending.
     
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  10. Kode

    Kode Well-Known Member

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    So your savings bonds are worthless? Tell that to the millions who invested in them.
     
  11. Kode

    Kode Well-Known Member

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    You use words loosely. "Looting"? So when you or your relatives bought U.S. Savings Bonds, and the government used that money on various programs, your bond assets were "looted"?
     
  12. JET3534

    JET3534 Well-Known Member

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    You sound like a spokesperson for BPD. If so a Federal paycheck is probably a good gig in Parkersburg.
     
  13. tecoyah

    tecoyah Well-Known Member Past Donor

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    In 1983, The Greenspan Commission came up with a plan to save money to provide for the retirement of the Baby Boom Generation. President Reagan and the Democrat-controlled Congress agreed with the plan and raised Social Security withholding which immediately resulted in a large surplus in the Social Security Trust Fund. Unfortunately, Congress saw that surplus and decided to borrow and spend it. It was all very legal. In fact, the United States Treasury even created special bonds to to show how much money they owed to Social Security.
    Over the next thirty years, that surplus grew to almost $3 Trillion. And Congress continued borrowing it.
    Now, the Social Security Trust Fund sits empty — there isn’t enough money to pay the benefits that are owed this year. But there is a file cabinet in Parkersburg, West Virginia filled with those special bonds the Treasury issued to replace the money in the Social Security Trust Fund.

    There is your daily reality check.
     
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  14. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    Fine only for 8 more years. Democrats have vowed not to do anything about it.
     
  15. ButterBalls

    ButterBalls Well-Known Member

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    WOW that 400 billion we are pissing away on the debt interest sure would come in handy right about now ;)
     
  16. JET3534

    JET3534 Well-Known Member

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    Look up the definition of a Trust Fund. A trust fund consists of assets. What are the assets of the SS Trust Fund? In actuality the assets are probably a paper document in a cheap GSA file cabinet located in Parkersburg WV.
     
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  17. nopartisanbull

    nopartisanbull Well-Known Member

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    In a previous post, this gent Kod
    Looting isn't a proper term because the law permitted Uncle Sam to issue promissory notes, whereas in several other countries, issuing a promissory note when there is a surplus contribution is an illegal accounting procedure.
     
    Last edited: Jun 6, 2018
  18. ButterBalls

    ButterBalls Well-Known Member

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    That's the same line they told the county back when Bushy warned of the Subprime problem :) Clearly the left doesn't even learn from mistakes :)
     
    Last edited: Jun 6, 2018
  19. Bluesguy

    Bluesguy Well-Known Member Donor

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    And how do they invest their reserves . What should we do with the reserve funds where should the be invested?
     
    Last edited: Jun 6, 2018
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  20. MolonLabe2009

    MolonLabe2009 Banned

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    No, too much social program spending.

    We only spend about 16% on military and over 60% on social programs.
     
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  21. MolonLabe2009

    MolonLabe2009 Banned

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    No, my highly informed opinion. Take your blinders off.
     
  22. Kode

    Kode Well-Known Member

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    Well, if you're beat and can't answer a question, you can always deflect.

    What you're saying is that you know damned well that I'm correct. Thanks.
     
    Last edited: Jun 6, 2018
  23. Bluesguy

    Bluesguy Well-Known Member Donor

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    Index funds I am OK with. Individual companies and real estate I have problems. Who directs the funds, what are they paid? How about a special SS bond that is sold to the public?
    The problem is Democrats would oppose.
     
    Last edited: Jun 6, 2018
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  24. GrayMan

    GrayMan Well-Known Member

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    Social security and medicare is taken out of your check separately and is not part of Federal income tax or the tax deductions that were given to us on our income tax.
     
    Last edited: Jun 6, 2018
  25. Bluesguy

    Bluesguy Well-Known Member Donor

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    And then take out $3 trillion when revenues increase.
     

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