Understanding Social Security and its financial status is not easy. I’ve tried several times to explain what is happening; generally referencing the Trustees Reports. Politicians with their misleading rhetoric don’t help matters. Recently I read that there was no problem because the Trust Fund is still growing. Unfortunately, that is only because of interest payments on Treasury bonds. Others comment that the Social Security system is unrelated to the deficit or national debt, but fail to consider where the money comes from to pay the interest or where it will come from to redeem the bonds, something that could be required in only twenty years or so.
In any case, I recently read a very good , simple explanation of the status of Social Security from Motley Fool. I urge you to take a look through the link below.
The Coming Social Security Crisis Explained in Plain English.
As you can see from the above chart, more and more income is coming from interest payments.
QUINNSCOMMENTARY 
Let’s think about this. If your benefits were bought and paid for as you say, then there would be no problem. The trust would hold bonds sufficient to pay your and my benefit for life. The incoming payroll taxes would be irrelevant in the equation would they not … if you had bought and paid for your benefits? You and I paid for the previous generations benefits and not enough to pay for our benefits too.
LikeLike
Everybody sing along…to the tune of the 7 Dwarfs marching off to work…
“Hi..Ho..Here we go again. The fixation shows and thar he goes..again, again.”. (repeat as needed)
No, Congress raided the Social Security Trust Fund to pay for give away programs since the 60’s. Typical Dick try to nit pick a certain part of a comment but not answering the question. You’re long on dodging, deflecting and diverting the questions asked of you and SHORT, VERY SHORT on specifics asked of you.
Again….What would you have us do Dick, get out our walkers, canes and wheelchairs or otherwise march on Washington demanding that Congress do away with or reduce our BOUGHT AND PAID FOR benefits (Congress would only ear mark those cuts for those other NON PAID FOR benefits that YOU REFUSE TO GO INTO DETAILS on how to reduce). In my opinion you are long on sounding the bugle of alarm but short on providing suggestions on how to remedy the situation.
LikeLike
Good Morning….
Everybody sing along…to the tune of the 7 Dwarfs marching off to work…
“Hi..Ho..Here we go again. The fixation shows and thar he goes..again, again.”. (repeat as needed).
Now Dick’s reduced to posting comments from “Motley FOOL” to support his “Henny Penny” (“the sky is falling”) position.
Your urging, however, worked…I paid a visit to the smallest room in my house and made good use of a printed out copy of this blurb or should it be “blurk” (per The Urban Dictionary: popular, conventional wisdom which may be factually right or wrong, but which loses its meaning through frequent repetition.)
What would you have us do Dick, get out our walkers, canes and wheelchairs or otherwise march on Washington demanding that Congress do away with or reduce our BOUGHT AND PAID FOR benefits (Congress would only ear mark those cuts for those other NON PAID FOR benefits that you refuse to go in to detail on how to reduce). In my opinion you are long on sounding the bugle of alarm but short on providing suggestions on how to remedy the situation.
LikeLike