As the left propaganda machine gears up to hammer the Republican controlled House of Representatives on Social Security, let’s look at the facts.
Social Security is headed for trouble in only eighteen years; it will not be able to pay full retirement benefits from that point forward. However, by the end of 2016 the disability fund will be depleted and will not pay full benefits.
What’s the solution? Well, in the past our incompetent politicians have merely transferred money from the retirement trust to the disability trust to keep it going. Now the House is refusing to do that which is fueling the claims about destroying Social security.
Taking money from the retirement trust accelerates its depletion by about one year.
Who knows why Republicans have decided to play a new game at this point, but needless to say, they are not going to let either trust fund go bust. The optimistic view would be they are trying to force action to solve the entire problem, but the spin will be they hate Social Security and don’t care if they destroy it.
The real problem? Well the real problem is that Congress has been ignoring the Social Security issue for years (including the last six years) and won’t tell you the truth or take action that might rile senior citizens. In other words, they are cowards and seniors and other citizens are naive and uninformed.
The fact is that some combination of higher taxes, modified benefits and adjusted COLA will be necessary to keep Social Security going. The question is do we spread the burden across generations or do we simply raise taxes and add to the burden of the middle-class (even if we remove the taxable wage limit and make SS a true welfare program)?
From the 2014 Trustees Report:
The Trustees project that annual OASDI cost will exceed non-interest income throughout the long-range period (2014 through 2088) under the intermediate assumptions. The dollar level of the theoretical combined trust fund reserves declines beginning in 2020 until reserves become depleted in 2033. Considered separately, the DI Trust Fund reserves become depleted in 2016 and the OASI Trust Fund reserves become depleted in 2034. The projected reserve depletion years were 2033 for OASDI, 2016 for DI, and 2035 for OASI in last year’s report.
QUINNSCOMMENTARY 
This is a bunch of BS…why dont they take pay cuts ..these so called politicians..who are supposed to be for the people?? and why do they pay these former presidents..money?? why dont they get jobs..this is ridiculous..im not about to lose my social security..i earned that ..over 20 years working..and am still working PT..i need this money..or i wont be able to keep up with today’s outrageous pricess..on rent and food
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You should also make it clear that when you write “Well, in the past our incompetent politicians have merely transferred money from the retirement trust to the disability trust to keep it going,” the past was 20 years ago. Another part of the left’s spin is that this transfer of funds from “retirees” to the disabled is just the normal course of business.
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No, the question is, who gets to decide? Will the taxpayers and beneficiaries have a say in the solution – the form of benefit cuts and/or added taxes each individual taxpayer and beneficiare experiences,or will this be dictated from Washington, a la the 1983 amendments? Will the relative “social” structure of the system be unchanged, or will, this become a welfare program – removing more of the existing link between taxes paid and benefits received!?
And,please spare us the members of congress who vote on this then return to their districts and states claiming to have “saved” social security and Medicare … As they did in 1983.
Finally, who/how do they propose to save Medicare from PPACA cuts?
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You already know the answer. Voters don’t vote for politicians who tell them the truth and so they get what they get; quick fixes that aren’t
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