Social Security Lockbox

[Danzig]

Originally Posted by Riot

Social Security is fully funded for disbursements through 2037, and at 78% after that for years, if we do nothing to it. A minor tweek, such as raising the cap to $150,00 or $200,000, would fund it virtually forever at current benefit levels. And yes, SS is safely kept in US Treasury bonds. We have no anticipated trouble paying ourselves back as we need it. SS has never, ever missed a payment, and there is no indication or reason it ever should.

As long as the Tea Party never gains a majority in Congress, the full faith and credit of the US should be okay.

I''d guess that most of the people on this list, less than 30 years of age, have very minimal to no self-funded retirement accounts. Social security is a fallback insurance - not intended to be a primary retirement. It's meant only to keep the elderly from starving and being on the street poor, as used to happen.

Medicare needs help, yes. And state Medicaid contributions are terrible (they talked about that when they passed the ACA, what stress the requirements would put on the states, which is why the feds will step in and help alot) But not SS, that is most certainly not in any panic state.

medicare is ss. it's all funded by your social security payments. payments to ss need to increase, the number of credits required to be 'fully vested' need to increase. the program needs an overhaul. amounts sent in, age to collect, etc. and the money needs to remain in ss from now on, for only the programs it's intended to pay for. iou's don't mean squat, and pay for nothing. of course, when the govt borrows from itself, it doesn't have to pay interest, include it in the debt, etc
medicaid is fed and state funded. and it's about to break the states. those requirements from the ACA grow dramatically over the next few years. the states are filing suits because it's a tax passed on to them by the fed, who is trying to trumpet medicare savings as a great thing...it's just passing the buck. well, the bill in this case.
as for ss and the 'little tweak', that hot potato keeps getting passed along, no one wants to touch it. but you cling to that fiction that it's nothing to worry about- it's a huge worry. defense is over 20% of the federal budget, it's a huge expense. but entitlements are higher than that budget, and growing by the day. by waiting to do what's needed, the problem only grows.