Did you get this email from Moveon.org a couple of months ago..... SS broke in 2037, call your rep. to protect SS.
Who writes that?
It aint true. Not unless we have a 27 year recession... and what kinda nut would predict a 27 year recession anyway?
I checked out the 2004 and 2007 Social Security Trustees Report and quite frankly very little has changed. In 2007 I titled a kos dairy SS Trustees say SS is broke by 2041, Wrong, read why
Here's the kicker, right from the SS Trustees own charts.....
while looking at the "Low cost" scenario, it shows
Social Security would still be solvent thru 2085,
based on GDP growth of about 2.5%.
When we look at the same section for 2010..... its still 2085. But "others" used to tell us Social Security will be broke in 2042, more recently we've been been told its gonna happen in 2037. And that change is very likely because of the lack of economic recovery, funny thing that.
From 1960 to 2000 the US averaged 3.48% annual economic growth. For Social Security to go broke by 2037 the Trustees rely on predicting the economy will grow at a rate between 1.1% and 1.8% from 2016 to 2037.
This whole thing is a scam, and Moveon.org, and a number of people have bought into it. And repeat it.
I started writing this diary before the recent events involving the "tax deal", I feel so good so many people care for me strongly enough to cut my FICA by 2% for 2 years. But even that will not permanently hurt Social Security, what is far more important to the long term health of Social Security is continued economic growth, fueled by job creation, 15 million jobs, at this time. And to have certain kinds of people keep their damn filthy paws outta da cookie jar.
I've been asking my self just how do you start and maintain a 27 year recession?
Could I be any more facetious?