Social Security's Disability Trust Fund Could Fail To Cover All Benefits Early As 2016
As President Obama faces pressure on the left to defend federal entitlement programs from the benefit cuts that the Republicans say are necessary to keep the programs solvent decades down the road, one part of Social Security could fall short of paying out full benefits within a few years -- even while Obama is still president.
Over the long term, Social Security and Medicare have promised tens of trillions of dollars more in benefits than the nation can pay for under current policies. But Social Security's disability trust fund is in even worse shape, and current estimates say by 2016 it won't have enough money to pay full benefits.
"That's three years from now," Jim Capretta of the Ethics and Public Policy Center said. “And given the president's rhetoric and his posture, it's quite clear that he has no intention of doing anything about it."
I and my employers have paid into Social Security for over 41 years. I am now of retirement age. I do not view Social Security as an entitlement and I don't view my State retirement as an entitlement either. I didn't have a choice about paying into either one. All I want now is what I promised.
The funding problem is not my problem. It is the problem of the State and Federal governments that have continually stolen from and underfunded both Social Security and the State Retirement Fund.
There are plenty of ways that social security's funding problems could be eased, but the banksters don't want people to know about them because they want you to hand over more money for them to play with, oops, I mean invest
I and my employers have paid into Social Security for over 41 years. I am now of retirement age. I do not view Social Security as an entitlement and I don't view my State retirement as an entitlement either. I didn't have a choice about paying into either one. All I want now is what I promised.
ReplyDeleteThe funding problem is not my problem. It is the problem of the State and Federal governments that have continually stolen from and underfunded both Social Security and the State Retirement Fund.
Sorry,5:37, but it IS your problem because you expect to get it. What will you do when they don't pay up, sue them. good luck....
ReplyDeleteSounds like me with a $50 gift certificate from Zias that I'm stuck with.
ReplyDeleteYou can always hire an attorney for about $10,000. and sue to get your $50. back. It's the NEW American way...be a politician..cheat,lie,steal....
ReplyDeleteCrash and burn, or revolt to make out money worth something?
ReplyDeleteAnd guess who raided and plundered OUR Social Security System? The Democrats that's who. Now they continue to ignore that there is even a problem.
ReplyDeleteThere are plenty of ways that social security's funding problems could be eased, but the banksters don't want people to know about them because they want you to hand over more money for them to play with, oops, I mean invest
ReplyDelete