What you see below is the state of Social Security income versus payments. Today incoming revenue from taxes is less than payments being made.
Following is how Social Security can use it’s money. Note the obligation for the government to honor redemption of the Trust Treasury bonds. This will be necessary in about nineteen years. Have you thought about where the money will come from to do this?
Below are suggestions for changes to Social Security that would allow the Trust to keep paying benefits. None of these are happy prospects but the longer Congress waits to fix the system, the worse it will be.
Why hasn’t the Administration made fixing the coming crisis a top priority? Answer; because it and all members of Congress are afraid of losing votes because the American voter is uninformed and only worried about his or her own backyard.
According to FactChecker:
Obama has stated that more executive orders may be on the way, saying before a Cabinet meeting on July 1 that “what I’m going to be continually pushing throughout this year and for the next couple of years is that if Congress can’t act on core issues that would actually make a difference in helping middle-class families get ahead, then we’re going to have to be creative about how we can make real progress.”
It’s too bad that instead of tweaking his ideological goals he doesn’t get to work on the real core issues facing America. Instead they go largely ignored. Pushing the minimum wage sounds great until you place it against the growing need for higher payroll taxes and or lower Social Security benefits, especially disability benefits most affecting the middle class.
QUINNSCOMMENTARY 
Hmmm keeping in mind that I am not Politically correct… but the simple solution to the problem is…..
We paid into social security for 50 plus years…….
At the same time we educated the youger generations so that they could make better dollars than we….have a better life….. Some of us worked in the early years for 50 cents to $2 an hour and raised families at the same time…..
Let them pay in more accordingly…….. they want to secure their future …..let them!
But stop taking it out on our generation…. we fought to keep food on the table then and we are doing the same now..
I have one check each month to live on….I get NO entitlements………Do not look to me for sympathy….
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Your simple solution is to give our children less from Social Security than we take from it ourselves. If you educated them at all, you can’t be surprised if they say no.
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iF THEY SAY NO THEN THEY ARE PART OF THE PROBLEM……….not mine…. I fed and gave them life…… where are they when I am trying to survive in my elder years…there seems to be no balance….. and you blame me for wanting to live?
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Gee, it would seem to me and, I am not an economist, that if we somehow got more working people into the mix, that tax revenues would possibly increase thereby alleviating some of the burden on the already stressed SS fund. Perhaps if the President spent less time fundraising and more time in discussions with economists and industry representatives (a mixed crowd of Reps, Dems and Independents that perhaps, just perhaps, they might come up with even a partially workable solution that woud benefit everyone.
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You are talking about things that will postpone the problem, not fix it. The additional revenue will create more future benefits. Postponing the consequences would be fine if the size of the problem weren’t growing.
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You would think, wouldn’t you. Five and a half years and more and not even serious discussion on how to fix these problems. But plenty of time to fight for “free” contraceptives.
Dick
Richard D Quinn
Blog http://www.quinnscommentary.com Twitter @quinnscomments
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No one is blaming you for wanting to live. However, the people that you voted for over the years have left a financial mess. You are expecting the children to clean up this mess when they had no vote in it. I am simply saying that you really can’t be surprised if your children do not like the idea of you taking more than you want to give them.
Generally when I hear from seniors it is to say that they aren’t responsible for the people for whom they voted. That was DC that created the 17 trillion dollars in debts that we are leaving. It was DC that underfunded the Social Security system. It was DC that made promises about medicare that no one can afford. You simply can’t be surprised if your children say no. You definitely can’t be surprised that the young who are complete strangers say no.
And be grateful that you fed and gave birth to kids who will care for you. You are in a much better position than many seniors.
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The 75 year solvency concept is one of the things that confuses Americans. They largely think it means that Social Security will work for 75 years. The problem is that the shortfalls created by the system are increasing over time. In 30 or 40 years, we will be back to where we are today. Large Shortfall creating questions in the minds of workers about whether they will get benefits.
Solvency is the cost to kick the can. It is not the cost to fix the system.
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Dan with all of the turmoil on our borders and in the middle east he is off playing golf…….. he nor any other politician cares about little ole` us……..We pay for this!!!!!!!!!!
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