Obama says he cannot guarantee Social Security checks will go out on August 3

[red95gts]

There's a difference between reforming it and cutting it off while people are still paying into it and others are completely depenent on it.

Either way, SS is NOT the problem here. Obama is just using it to strongarm those who can't fend for themselves.

He needs to take a drive around downtown in a Lincoln convertable.

I agree completely. While I'm not a fan of SS in it's current form, we simply can't just cut people off that have been promised this and have paid into it. The effect on those individuals (and the economy as a whole) would be devastating.

But a reform MUST happen. My point was simply that SS is a sinking ship. If we reform while we're in the black, we've got some options. If we wait until we're buried in the red, the options become fewer and more expensive for everyone else.

[Denny]

As with any Ponzi scheme, when it comes to a grinding halt someone is going to get fucked. Unfortunately, the people who will get fucked are the people who are currently relying on SS.

Fast forward 30 years and the story is exactly the same, except SS will be deep in the red and we'll all be the old people. It's simply a question of reforming it while it's in the black or waiting until it's in the red. Seems like a simple decision to me.

There's a difference between reforming it and cutting it off while people are still paying into it and others are completely depenent on it.

Either way, SS is NOT the problem here. Obama is just using it to strongarm those who can't fend for themselves.

He needs to take a drive around downtown in a Lincoln convertable.

[red95gts]

As with any Ponzi scheme, when it comes to a grinding halt someone is going to get fucked. Unfortunately, the people who will get fucked are the people who are currently relying on SS.

Fast forward 30 years and the story is exactly the same, except SS will be deep in the red and we'll all be the old people. It's simply a question of reforming it while it's in the black or waiting until it's in the red. Seems like a simple decision to me.

[SMEGMA STENCH]

So, you are saying you do not mind paying for mandatory life insurance all your life but getting told after 30 years of paying that when you die your family isn't getting jack?

Sounds smart.

Stevo

Well for starters, I'm 29 so I've already paid in tens of thousands of dollars to SS. That I'll likely never see. But even if I was going to see it... yes, I'd still have them shut it down and my money disappear. As stated, its got to end sometimes and tough shit if it hurts. That's life. I'll build wealth some other kind of way and not have to worry about it.

We need to get rid of SS but we do not need to start with the people already collecting!

Already collecting? I'd have to say no. But if not, then when? When and how is a good time? When is it going to be convenient for those who have paid in all their lives and were counting on it? Tell me when that time is. It doesn't exist. No matter when you kill this socialism, its going to hurt lots of people, real bad. Just think of all the people that were just about to retire. That year, or the next. Or even in 5 years. Its unlikely that they could build enough wealth in 5 years to take care of them for the next 20, or hell even 30 in some cases.

The more that clown posts, the more I realize he's a fucking idiot. Good thing he's a trust fund baby. He wouldn't make it on his own.

You shut the fuck up you stupid dildo. Your sheer density invalidates any opinion you may have. Go back to the corner and take the white dunce cap with you. You should change your name from bcop to denso, like the honda OEM parts supplier.

[GhostTX]

I know it had been said already, if you read all of my post you would have saw where I had quoted it. I was posting the article to show that our representatives also know he is full of shit, and that they are trying to calm people, and let them know that if they DO stop, it is because the obama regime has stopped it, not because the funds are not available.

Stevo

Gotcha. I just hope enough of "us" are informed to call the BS if it happens.

[stevo]

I believe that's been said in the thread already. Fact is: Military and SS have the money. Media/Obama camp is spinning the deficit ceiling to the contrary.

I know it had been said already, if you read all of my post you would have saw where I had quoted it. I was posting the article to show that our representatives also know he is full of shit, and that they are trying to calm people, and let them know that if they DO stop, it is because the obama regime has stopped it, not because the funds are not available.

Stevo

[bcoop]

Isn't that the fucking point...that he HAD business ventures?

The more that clown posts, the more I realize he's a fucking idiot. Good thing he's a trust fund baby. He wouldn't make it on his own.

[GhostTX]

Check this article out:

This regime is just trying to hold SS payments for ransom and as a scare tactic.

Stevo

I believe that's been said in the thread already. Fact is: Military and SS have the money. Media/Obama camp is spinning the deficit ceiling to the contrary.

[stevo]

One of my stockbroker friends pointed out something obvious to me just now. I don't think Social Security runs at a deficit right now. So that means they should have plenty of incoming money to pay out.

That is, unless the government steals it and puts it in the general fund to pay other things. I wouldn't say Obama is above that.

Check this article out:

WASHINGTON, DC – Today, Rep. Louie Gohmert released the following statement regarding President Obama's interview on CBS Evening News, in which he said he cannot guarantee Social Security checks will go out in August if a debt-ceiling compromise is not reached by the deadline:

"Any claim that Social Security checks may not be paid in August has to be from someone who is either very ignorant, or very dishonest and trying to scare senior citizens for political gain. The Treasury Secretary has more than enough money to make the payments. This administration has not only confused the American public by flip-flopping on many debt and tax issues, but it has at the same time destroyed American jobs and weakened the U.S. economy through the implementation of anti-business policies. Now, by threatening to withhold Social Security checks from Americans, unless he gets permission by Aug. 2nd to continue increasing the debt ceiling, President Obama is once again deploying a scare tactic strategy based on a falsehood."

"Unless the President and his Treasury Secretary willfully withhold Social Security checks to make a political statement, seniors have nothing to worry about. The truth is that Social Security's ability to make payments as usual will be completely unaffected even if the debt ceiling is not raised next month. In fact, Social Security payments come from the Social Security Trust Fund which is capable of making payments for many months without Congress doing anything. Instead of being a statesman leader and saying something like, ‘The only thing we have to fear is fear itself,' this President tries to create fear and panic in the American public at every turn."

This regime is just trying to hold SS payments for ransom and as a scare tactic.

Stevo

[Hobie]

One of my stockbroker friends pointed out something obvious to me just now. I don't think Social Security runs at a deficit right now. So that means they should have plenty of incoming money to pay out.

That is, unless the government steals it and puts it in the general fund to pay other things. I wouldn't say Obama is above that.

I was holding my tongue for a bit - there is an accountant in Connecticut on another board I post on who said something similar.

He was saying something along the lines of "SS isn't broken the way the media likes to report it and it will be in the black for at least another 20 years."

I don't remember the exact details though. We were talking about this ~2 years ago.

[Broncojohnny]

By this dipstick saying "I cant promise checks will go out next month" just confirms that they have been dipping into that money and they shouldnt have. The SS acount should be running at a surplus this whole time. Thats been my point all along and why I have been comparing it to a 401k. These people paid into this account and their money should be waiting there for them to go out next month.

All obama did was confirm to the public that they have or plan to dip into that fund and screw a bunch of his supporters but of course it wont be taken that way.

They have only been taking the surplus between payments and receipts. By saying he can't guarantee checks will go out, he is threatening to take the receipts. What a lying shitbag.

[HarrisonTX]

Same here, it is, by a big chunk, the biggest part of my income.
I predict that if they cut off all (or even a large percentage) of government entitlements, there will be wholesale chaos.

I'm right there with you man. I'm not looking forward to the talk with my landlord if this happens.
Its already going to be a tight month, because the gaps between semesters used to be covered, and I'd get a a full payment, but starting fall semester, its no longer like that. There is a 10 day break between summer and fall classes, so I'll get 2/3 of my normal check, which is going to be extremely difficult.

[Lason]

One of my stockbroker friends pointed out something obvious to me just now. I don't think Social Security runs at a deficit right now. So that means they should have plenty of incoming money to pay out.

That is, unless the government steals it and puts it in the general fund to pay other things. I wouldn't say Obama is above that.

By this dipstick saying "I cant promise checks will go out next month" just confirms that they have been dipping into that money and they shouldnt have. The SS acount should be running at a surplus this whole time. Thats been my point all along and why I have been comparing it to a 401k. These people paid into this account and their money should be waiting there for them to go out next month.

All obama did was confirm to the public that they have or plan to dip into that fund and screw a bunch of his supporters but of course it wont be taken that way.

[Broncojohnny]

One of my stockbroker friends pointed out something obvious to me just now. I don't think Social Security runs at a deficit right now. So that means they should have plenty of incoming money to pay out.

That is, unless the government steals it and puts it in the general fund to pay other things. I wouldn't say Obama is above that.

[GhostTX]

This is not really how I think. Do they deserve to be in that situation? No. Is it my problem they failed to plan? No.

I just can't get over the fact that I am the guy who is the farthest away from this problem yet I am the one who is supposed to feel guilty and then gladly pay for it all.

Ok, maybe "deserve" is too strong, but if they failed to plan, then you gotta reap what you sow. IMO, family or true charities should help out these people. Is it "fair"? Who knows, but bad stuff happens to good people all the time. Life ain't "fair". I'll help out where I can, but to your point, don't make me feel guilty and force me to pay in to this crap SS system.

No one ever said sole but its still "their money" that they paid in.

"My" money that I already paid into SS is already gone and I doubt I'll ever see it. So I'm in the same boat as "they" in that regard.

I already chalked it up as a loss and don't include it in my retirement plan. As someone already said, if it's there when I retire, great. If not, oh well.