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**JimmyHas** · 08-03-2011, 10:16 PM

SS will be completely solvent through 2037, which is more than 100 years since it was started, and will be able to pay out funds until 2084. Not many private endeavors do that well do they? Yes, there are problems with SS, but they are surmountable.

7 Ways to Make Social Security Solvent - TheStreet

My biggest gripe is that people whine about government entitlements, but then the very same people are the first in line demanding their entitlements. Conservatives whine about the system being a failure, yet they want to do nothing to save it, and they still want their handout that they feel they have coming. They can't have their cake and eat it too. Either they have to be willing to sacrifice some of their entitled benefits, or pay more taxes, or abolish the system and declare all benefits null-and-void, even the ones they think are rightfully 'theirs'.

Right NOW is the time to make minor adjustments. SS insolvency is like a meteorite that's going to hit the earth. Nudge it early and you stave off disaster. Wait until it enters the atmosphere and the world's combined nukes can't stop it.

That 2037 figure you cite is from a CRS report from last October but the CBO also had the following to say on the issue:

CBO projects surplus from 2010–2020

Starting this fiscal year, however, Social Security will operate with a cash flow deficit (i.e., income excluding interest will be less than outlays), according to projections by the CBO released in March 2010. The CBO projects that Social Security will operate with cash flow deficits in FY2010 through FY2013 and again in FY2016 through FY2020. When Social Security operates with a cash flow deficit, the program cashes in more federal government securities than the amount of current Social Security tax revenues. General revenues are used to redeem the federal government securities held by the trust fund. This increased spending for Social Security from the general fund can only be paid for by the federal government by reducing other spending, increasing taxes or other income, or borrowing from the public (i.e., replacing bonds held by the trust funds with bonds held by the public). When total trust fund income (income excluding interest) is taken into account, the CBO projects that Social Security will have a surplus in each fiscal year from 2010 to 2020. CRS looks at solvency status of Social Security trust funds
OASDI Trustees Report for 2010

Pushing tough decisions that HAVE to be made back until the shitstorm becomes a shittornado really isn't in our best interest....unless your only primary goal is nothing more than political popularity.

08-03-2011, 10:16 PM	#10
JimmyHas Join Date Oct 2005 Posts 393 Senior Member	SS will be completely solvent through 2037, which is more than 100 years since it was started, and will be able to pay out funds until 2084. Not many private endeavors do that well do they? Yes, there are problems with SS, but they are surmountable. 7 Ways to Make Social Security Solvent - TheStreet My biggest gripe is that people whine about government entitlements, but then the very same people are the first in line demanding their entitlements. Conservatives whine about the system being a failure, yet they want to do nothing to save it, and they still want their handout that they feel they have coming. They can't have their cake and eat it too. Either they have to be willing to sacrifice some of their entitled benefits, or pay more taxes, or abolish the system and declare all benefits null-and-void, even the ones they think are rightfully 'theirs'. Right NOW is the time to make minor adjustments. SS insolvency is like a meteorite that's going to hit the earth. Nudge it early and you stave off disaster. Wait until it enters the atmosphere and the world's combined nukes can't stop it. That 2037 figure you cite is from a CRS report from last October but the CBO also had the following to say on the issue: CBO projects surplus from 2010–2020 Starting this fiscal year, however, Social Security will operate with a cash flow deficit (i.e., income excluding interest will be less than outlays), according to projections by the CBO released in March 2010. The CBO projects that Social Security will operate with cash flow deficits in FY2010 through FY2013 and again in FY2016 through FY2020. When Social Security operates with a cash flow deficit, the program cashes in more federal government securities than the amount of current Social Security tax revenues. General revenues are used to redeem the federal government securities held by the trust fund. This increased spending for Social Security from the general fund can only be paid for by the federal government by reducing other spending, increasing taxes or other income, or borrowing from the public (i.e., replacing bonds held by the trust funds with bonds held by the public). When total trust fund income (income excluding interest) is taken into account, the CBO projects that Social Security will have a surplus in each fiscal year from 2010 to 2020. CRS looks at solvency status of Social Security trust funds OASDI Trustees Report for 2010 Pushing tough decisions that HAVE to be made back until the shitstorm becomes a shittornado really isn't in our best interest....unless your only primary goal is nothing more than political popularity.
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