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6.8SPC_DUMP · 06-23-2010, 20:31

With this job market, even raising the retirement age to receive benefits and cutting off the people who don't come close to relying on the SS Trust Funds to pay their bills, won't solve the problem indefinitely. At least it's an effort and IMO one of the less harsh options. Politicians have avoided the issue because it's not going to make ANYONE happy.

FDR and every President since have dipped into SS Trust Funds. In 1968 LBJ/Congress started listing SSTF revenues as general revenues to pretty up the budget deficit total. Currently we are left with a 2.5 Trillion IOU and more is paid out than collected on benefits. Anyone, 3 years ago, who accurately predicted the drop in revenues from FICA and SECA would have been considered an alarmist.

06-23-2010, 20:31	#2
6.8SPC_DUMP BANNED USER Join Date: Dec 2008 Location: New York Posts: 353	With this job market, even raising the retirement age to receive benefits and cutting off the people who don't come close to relying on the SS Trust Funds to pay their bills, won't solve the problem indefinitely. At least it's an effort and IMO one of the less harsh options. Politicians have avoided the issue because it's not going to make ANYONE happy. FDR and every President since have dipped into SS Trust Funds. In 1968 LBJ/Congress started listing SSTF revenues as general revenues to pretty up the budget deficit total. Currently we are left with a 2.5 Trillion IOU and more is paid out than collected on benefits. Anyone, 3 years ago, who accurately predicted the drop in revenues from FICA and SECA would have been considered an alarmist.
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