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Old 07-15-2017, 11:49 AM   #1
Dreamweaver
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Default Social Security Continues Toward Insolvency

Social Security Trustees report long term actuarial deficit worsened considerably.


https://economics21.org/html/social-...ency-2450.html
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Old 07-15-2017, 06:52 PM   #2
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Then Congress needs to get with it and put more funds into SS. Far too many people are dependent on this to let it founder now.
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Old 07-15-2017, 07:14 PM   #3
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The government needs to repay all the money they "borrowed" from it.
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Old 07-15-2017, 07:56 PM   #4
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Since this is my week to deal with the realities of losing a husband, this seems a fitting thread.

Once I have all the usual things done I'll be jumping back into the work force.

No small feat for a person in their 60's who's been the sole caregiver for a their spouse since 2001.

Based on what I experienced several years ago when I tried to find a job, I know it's not going to easy.

In my favor is that I am a hard worker, the skills I've honed over almost two decades of juggling multiple doctors, countless medical appointments, handling all his medications and in home labs, as well as dealing with the emotional / mental roller coaster of man with significant combat related PTSD, should, at least in theory, mean my abilities could / should lend themselves to a fair number of job. Working under extreme stress? Pffffffffft. BTDT 24/7/365 for so long, it's second nature. That with the fact I'm not the sort to think myself above any honest work.

But ......... Just since I've begun this process I've had several people advise me to immediately apply for Social Security, early. They've pointed out that while it would mean a reduced sum, it would likely be a wash or at best, a moot point, considering the fiscal health of Social Security and that my optimism may not pan out in today's economy.

I'm rather amazed that some of the very people who know, at least in a general sort of way, what I've done for so many years as the sole, full time caregiver, should be so quick to presume either that I *don't* want to work or that I *can't* work. Not to mention it sort of bothers me that they would look at Social Security as the first option for a woman my age, at this point in my life.

There's so many people who truly need it and for decades the government has tapped Social Security for their pet projects at the expense of those who paid into and bought into the unsustainable promises made by the government to make the mandatory contribution to it, more acceptable.
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Old 07-15-2017, 10:12 PM   #5
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A friend worked into her 70's and only retired because she wanted to travel. Now she "works" at helping her family. A week before her shoulder surgery she was helping roof a grand daughters house.

Work until you want to retire and then enjoy yourself.
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Old 07-16-2017, 01:47 PM   #6
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lots of people may depend on it but that does not mean it will last...ss and Medicare are entirely unsustainable and there is a particular generation of us who are getting entirely screwed on the deal.

I have paid the max each year since the 90's (and double when self employed ) and figured out as of about 4 years ago that if I never paid in another dime and retired at 68 I would be around 100 yes old before I broke even and got back what I put in......chances of that happening are nil

doing my best to convert as much income as possible into non subject gains and I'm certainly not the only one
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Old 07-16-2017, 02:14 PM   #7
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Quote:
Originally Posted by rryan View Post

doing my best to convert as much income as possible into non subject gains and I'm certainly not the only one
What money?
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Old 07-16-2017, 07:39 PM   #8
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NV, if you were married 10 + years, you should be able to draw off your hubbies SS.

I did it until I turned 65, then switched to my account as that was a larger amount.
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Old 07-16-2017, 08:47 PM   #9
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Quote:
Originally Posted by rryan View Post
there is a particular generation of us who are getting entirely screwed on the deal.
I would count myself lucky that I understand this fact, and can therefore make at least some sort of allowance for it. There is a whole generation—mine—that has almost zero understanding that SS is in fact a transfer payment/entitlement/welfare program, and that at some point, when the law of large numbers takes effect, it is largely going to simply evaporate. Anyone who thinks that he/she is "owed" SS and that his/her payment is therefore somehow inviolate is in for a nasty shock at some point in the future.

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Then Congress needs to get with it and put more funds into SS.
They will not.

Quote:
Originally Posted by Feather View Post
The government needs to repay all the money they "borrowed" from it.
That is not going to happen. There is no money with which to do so, or they wouldn't have "borrowed" it in the first place.
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Old 07-17-2017, 06:15 AM   #10
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Since printing money is vastly superior to facing civil war the US government
will print , until they cannot because money has become a joke .

Meantime ....
Quote:
The Federal Government has continued to issue new debt despite the
debt ceiling. It has done so by using its big pile of cash to pay down the debt
it owes to Social Security and to government and military pension fund
beneficiaries. That internal debt is included in the debt subject to limit.
By paying down the internal debt, the government makes room to add
to its public debt. It thus maintains a regular schedule of new issuance.

Extract source


..
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Last edited by Ross; 07-17-2017 at 06:47 AM.
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Old 07-17-2017, 09:33 AM   #11
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Yes, they will continue to pay benefits, but inflation will be so great (and the inflation adjustment so small) that they will become increasingly meaningless.
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Old 07-17-2017, 02:17 PM   #12
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Hmmm, Guess the whole Blind thing was not such a bad idea after all. I would not recommend it however.
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