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  •  Social Security is to deficit as (9+ / 0-)

    Iraq is to 9/11.

    There, was that so hard?

    •  Probably correct on SS (0+ / 0-)

      Social Security takes up a HUGE portion of our federal budget.  It is going to get even larger.  It just came out that 10,000 people every month will be added to the Social Security rolls for the next 10+ years.  That's got a lot to do with what they call the "Baby Boomers" coming of age.  

      If our legislators stick their heads in the sand on this issue, we are looking at a very large problem that might very well take some action most of us don't want to accept.

      •  No, what came out is that 10K (1+ / 0-)
        Recommended by:
        chigh

        people will turn 65 every day.

        Most of the people in that group aren't going to be eligible to collect Social Security until they are 66. The group after that won't get to collect until we turn 67.

        So, it's not even an issue, but the media is out there squawking about it as if it were.

        "The difference between the right word and the almost-right word is like the difference between lightning and the lightning bug." -- Mark Twain

        by Brooke In Seattle on Thu Dec 30, 2010 at 01:26:07 PM PST

        [ Parent ]

      •  Congress has packed the SS trust fund (0+ / 0-)

        with Treasury securities (otherwise known as IOU's), and those notes are coming due and payable over the next 35 years.  Instead of raising income taxes to pay off the notes, as they would do with notes held by China or Saudi Arabia or other sovereign wealth funds, congress is going to either welsh on their promise to pay or hike SS taxes (or cut benefits) in order to just "kick the can down the road," as pundits and economists say.  Meanwhile they'll keep issuing more securities, i.e., promises to pay, and using the excess FICA taxes we all pay to engorge the general fund in order to pay for corporate subsidies and more war.

        "In this world of sin and sorrow there is always something to be thankful for; as for me, I rejoice that I am not a Republican." - H. L. Mencken

        by SueDe on Thu Dec 30, 2010 at 02:29:31 PM PST

        [ Parent ]

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