Social Security disability fund projected to run dry in 2016

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• Social Security was suppose to be a supplement for folks who did not have much to retire on but paid into the system..Instead our retard politicians now give it to illegal aliens, the fake Disabled, state prison inmates and Who knows who else. Politicians have been using for their own personal bribery fund for decades...Lets see them lie their way out of this one..

• Doesn't bode well for us younger folks, but then I was planning on dropping dead at work anyway.

  • I know it is not there for me so I have to make other plans

  • That's the plan for everyone.

  • Go until you are 62, take the reduced payments and work for all the cash you can get. You will never get all you paid in if you stay in the work force long enough to get full payments anyway so grab what you can get when you can get it.

• Correct me if I'm wrong, but didn't somebody say this was going to happen a few decades ago, while someone else was either sticking their fingers in their ears and loudly singing "LALALALALA" and yelling 'I CAN'T HEAR YOU", that is, when they weren't accusing the first party of wanting to kill old people?

  Now, if the media knew what their job really is, they would find those parties of the second part, stick a microphone in front of their faces, and ask, "Well ... explain, please?"

  • Yep, we heard all the same bullshit when Clintoon was our fearless leader. Look for the retirement age to go up again, anyone born after 1954 already have to work longer than 65 years old to get full benefits. I don't care though, I got my first SS check this week and it didn't bounce!

    • I'm going to take advantage of the option to start collecting at 62, and keep working. My wife is also going to do that. This way, we will be able to have stockpiled some of the SS funds before the implosion, and SS goes away completely. That way., we won't have to work as hard when SS is no longer coming our way. Neither of us have worked in places that offered a retirement plan, for long enough, to count on having any kind of reasonable income in our retirement. We have some money, but it wouldn't last much more than a year if we had no other income. It sucks, because on my part, being self employed, I have to pay double into SS and Medicare. Where an employer picks up half of the tab, I have to cover the whole nut, and I will likely not collect even the amount I have paid in.

      • Read the rules. If you retire early you have to pay back a substantial amount. My cousin retired, got bored, went back to work then when she found out what she was paying she retired again.

        • As long as you make under $15k/year working, you don't have to pay.

  • Sticking your fingers in your ears and loudly singing “LALALALALA” and yelling ‘I CAN’T HEAR YOU” is what now passes for the "science" of economics.

    • That is what got Paul Krugman his degree in economics.....

  • Not Social Security Disability in particular but the system as a whole. That's what lead to SS "reform" in the 80s. Oh and Clinton's "budget surplus"? An accounting gimmick.

    The feds have been tinkering with economic and employment data for years and years. They adjust data and numbers to apply to the current times. The formula for unemployment numbers has been changed multiple times, going back to the late 60s. Before then. UE numbers applied to people 14 years old and up. In '68(?) it was changed to 16 and up. Imagine UE numbers if 14 year olds were included now. U6 unemployment which is still used but never reported was the norm until the 80s when the numbers they started using U3, which paints a better picture.

    When I was younger, UE rates of 5% or lower were the barometer for employment health. Now it's 6% or lower using a different formula.

    UE claims are another barometer that is heavily adjusted to account for seasonal spikes through the year. The non-seasonally adjusted and seasonally adjusted numbers rarely gibe with reality.

    Inflation/ the consumer price index(CPI) has been tinkered with since the 80s as well. CPI is calculated using data from different economic sectors, and it changes over time to reflect the current economic drivers. We all know prices are going up and have been for years and years yet inflation as reported over the past 30+ years remains fairly steady, in the 2-3% range. That wasn't the case before they started shuffling how each sector counts towards inflation.

    That, in turn, goes back to Nixon completely removing the dollar from the gold standard, creating a fiat currency that is not weighed against anything tangible, it's weighed against other country's own fiat currency. Except for a few periods, the dollar has been in decline ever since, resulting in inflation piling up year after year. That doesn't mean that inflation didn't exist before the USD was completely removed from the gold standard but the period since it was removed is unique because there has only been one period of deflation since then, during the "Great Recession" Before the change in monetary policy, inflation occurred at a lower rate and when busts in the economy occurred, you saw periods of deflation which created balance.

    I could go on but my dog wants to go for a walk and sometimes I grow weary of talking about how fvcked up this country's economic system as become.

    For those who enjoy statistics, visit the Fed's data site. Just ignore the seasonally adjusted numbers, they're the ones that are made public to ensure the sheeple know everything is AOK or getting better.

    https://research.stlouisfed.org/fred2/

• No problem - Congress will just borrow a few trillion dollars and make everything all better.

  • Borrow?
    That is a concept that suggests the money might be repaid, like is expected of us, when we borrow money to buy a car or house.
    Congress is ignorant of this concept. They have been taking money out of our Social Security Trust fund for decades, putting IOUs in the "Lockbox" saying the money will be returned, somehow. The problem is, they never return the money, they just act like a 5 year old, and spend all the money they can find, and it's OK, because we have a credit card we can use to pay for more stuff.

    • Exactly. And now they plan to balance the budget on the backs of the elderly (who generally can't return to the workplace) and the disabled. Classy. How about Congress give up some of their benes to share with those of us thatpaid into the system for years, and now are being told "Sorry, we f+#? Up andthere isno pension money available. Bill Gates could donate some money to us as opposed to Africa, same with Oprah, and all the Hollyweirdos that are concerned about everyone and everything on the planet except America. Sorry, this is a serious soapbox subject for me.