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Joined: Oct 2006
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Dawg Talker
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Dawg Talker
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Nice read alot of stuff in there. The one thing though that I hate seeing is how they lump SS into gov spending. Only reason is SS was a seperate thing and until the Gov starting taking out billion dollar loans from the system thus bankrupting it as well, it was doing fine and still would have continued to be fine.
Now that the loan/IOU's are coming due the Gov says hey look SS is killing us we need to cut stuff.
Again good read alot more in there that is worthy of lots of discussion. Thanks.
If you need 3 years to be a winner you got here 2 years to early. Get it done Browns.
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Joined: Sep 2006
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Dawg Talker
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Dawg Talker
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it is true that the government has been writing iou's to SS.
That in effect isn't why its going to go under. Back when it was created there were many workers supporting the few. Something like 10 workers for everyone on SS. Now its something like 2-3 workers for everyone on SS.
They grew the program, and now its not sustainable.
Attitude is everything....FEAR THE ELF!!!
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Joined: Sep 2006
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Legend
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Legend
Joined: Sep 2006
Posts: 40,399 |
The problem, as it is with most things, is that SS was never intended to be a major source of retirement income for everybody.. it was intended to be a small supplement for those who were in a bad situation at retirement.. but people came to rely on it and people stopped saving for retirement (or at least they didn't save enough).. Couple that with the switch from pension systems (which I always felt were stupid) to the 401K and IRA system which puts the burden on you.. and that is how this mess got created....
Oh and of course borrowing the money and spending it on other things ..... and pretending they didn't KNOW that we were headed down a road where the number of workers supporting the number of retirees was shrinking... (which they have seen coming for 30 years).. those 2 things didn't help either.
yebat' Putin
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Joined: Oct 2006
Posts: 1,456
Dawg Talker
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Dawg Talker
Joined: Oct 2006
Posts: 1,456 |
Quote:
it is true that the government has been writing iou's to SS.
That in effect isn't why its going to go under. Back when it was created there were many workers supporting the few. Something like 10 workers for everyone on SS. Now its something like 2-3 workers for everyone on SS.
They grew the program, and now its not sustainable.
While I dont have the numbers in front of me that may very well be true however the money that was coming in while the many (baby boomers etc) were paying in would have been accuring at a rate equal to inflation if left alone.
Takeing the money and not paying it back broke the system. Taking the money at intrest free rates broke the system. Now they want to cut the payouts and list it in the gov budget.
Well tell your kids well I bought a 150 million dollar house raised you in it however I didnt make any payments on it and now you need to start making payments on that house with acumulated interest on the loan. I cant afford that I have my own house I need to fund now so whats the answer? Your going to pay it anyway and we dont care because you cant do anything about it anyway.
SS was sustainable just as the Post Office was sustainable before the Gov said they had to pay 5 billion a year in advance into a retirement fund so the Gov could spend that as well.
Now If the Gov had used SS money to fund say Housing loans and student loans wtih proper oversight even at low interest rates of 2-5% it would have kept ahead of inflation but thats not what happened.
The Gov and media spit out what they want us to believe its up to us to somehow find the truth.
Link
Notice how the money was used up to fund special interests mask the debt instead of profit?
Anyway good thoughts being posted here I like it.
If you need 3 years to be a winner you got here 2 years to early. Get it done Browns.
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Joined: May 2008
Posts: 8,660
Hall of Famer
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Hall of Famer
Joined: May 2008
Posts: 8,660 |
Good dialog thanks. Don't have anything to add other then a quote from my father still rings in my head. "Their darn (not his words) Crooks, if you or I did this we would be in prison" 
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Joined: Sep 2006
Posts: 40,399
Legend
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Legend
Joined: Sep 2006
Posts: 40,399 |
For anybody who wants to know where a bunch of the earmark spending is going... as if you didn't know already. Congressional Earmarks
yebat' Putin
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