I do not know how to multiple quote. Sorry!
To answer your questions 1 by 1 -
1. Yup - I know what the acronym means. I find it impossible to believe that there was no cost of living increase for the past two years. I can't even begin to list the # of items I'm now paying more for than I did 2 years ago including reserved seats at Saratoga.
2. You keep repeating yourself about 78% covering in 2037. I don't see where this is any indication that the program isn't in trouble.
3. Do you realize that while the % deduction has remain unchanged over the past 10 years, there's been a tremendous increase in the amount of wages that that % comes out of? $87,900 in 2004 and $106, 200 in 2010 & 2011. Yup, they reduced it 2% for 2011, but they're not paying a COLA increase, so it washes. Additionally, the amount of SS money taxable has increased over the years. We now pay 100% IRS tax every single $ of our SS income.
4. It's there? You say it's there? Where? Money borrowed was spent. It has to be replaced. How is it going to be replaced? Raise the tax - right?
5. Silly me believing in any government conspiracy theory. Pardon my mirth. Bernie Madoff is a light weight compared to the mendacity of the U.S. government in manipulating taxpayer dollars - and this can be said for any administration - regardless of political party.
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I thank God we don't have to depend on social security payments in retirement because we surely would be standing on the dole lines if we hadn't made some alternative retirement plans.
For those of you bemoaning the fact that you're financing our monthly SS payments, whose monthly payments were we financing when we paid into the "system" for 40 years? So, NO, I don't feel guilty collecting monthly SS payments.
But, I do feel badly for those in their 20's and 30's who are paying dearly into the system with no or little prospect of collecting anything when it comes their turn to retire. I do hope they are planning some alternatives.