Comments on: Social Security Trust Fund http://www.reyonthehill.com/archives/2008/01/social-security-trust-fund.html wit, uncensored; bullshit, glorified. Fri, 03 Sep 2010 01:42:48 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Fixing Social Security :: reyonthehill http://www.reyonthehill.com/archives/2008/01/social-security-trust-fund.html/comment-page-1#comment-4098 Fixing Social Security :: reyonthehill Mon, 27 Jul 2009 23:42:45 +0000 http://www.reyonthehill.com/archives/2008/01/social-security-trust-fund.html#comment-4098 [...] mostly, if not entirely, empty gestures, because none of them do anything substantive to change the dynamics of the actual problem (that taxes in will be far less than payments out), and merely serve as band-aids, temporary [...]<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('4098','Fixing Social Security :: reyonthehill'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('4098','Fixing Social Security :: reyonthehill','[...] mostly, if not entirely, empty gestures, because none of them do anything substantive to change the dynamics of the actual problem (that taxes in will be far less than payments out), and merely serve as band-aids, temporary [...]'); return false;">Quote</a></div> [...] mostly, if not entirely, empty gestures, because none of them do anything substantive to change the dynamics of the actual problem (that taxes in will be far less than payments out), and merely serve as band-aids, temporary [...]
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]]> By: chuck http://www.reyonthehill.com/archives/2008/01/social-security-trust-fund.html/comment-page-1#comment-689 chuck Thu, 17 Jan 2008 16:32:00 +0000 http://www.reyonthehill.com/archives/2008/01/social-security-trust-fund.html#comment-689 I don't mean to parse words here, but we're both correct. The trust fund itself starts shrinking around 2027, but can still cover all Social Security checks written. It's in 2041 when the trust funds will be depleted and cannot cover the checks drawn. So, in terms of its solvency, Social Security becomes insolvent in 2041. In terms of its funding, it starts having problems around 2027.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('689','chuck'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('689','chuck','I don\'t mean to parse words here, but we\'re both correct. The trust fund itself starts shrinking around 2027, but can still cover all Social Security checks written. It\'s in 2041 when the trust funds will be depleted and cannot cover the checks drawn. So, in terms of its solvency, Social Security becomes insolvent in 2041. In terms of its funding, it starts having problems around 2027.'); return false;">Quote</a></div> I don’t mean to parse words here, but we’re both correct. The trust fund itself starts shrinking around 2027, but can still cover all Social Security checks written. It’s in 2041 when the trust funds will be depleted and cannot cover the checks drawn. So, in terms of its solvency, Social Security becomes insolvent in 2041. In terms of its funding, it starts having problems around 2027.
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]]> By: reyonthehill http://www.reyonthehill.com/archives/2008/01/social-security-trust-fund.html/comment-page-1#comment-688 reyonthehill Wed, 16 Jan 2008 21:25:00 +0000 http://www.reyonthehill.com/archives/2008/01/social-security-trust-fund.html#comment-688 But the trouble doesn't start in 2041, but years earlier when the rate of growth goes negative (shown on chart).<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('688','reyonthehill'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('688','reyonthehill','But the trouble doesn\'t start in 2041, but years earlier when the rate of growth goes negative (shown on chart).'); return false;">Quote</a></div> But the trouble doesn’t start in 2041, but years earlier when the rate of growth goes negative (shown on chart).
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]]> By: chuck http://www.reyonthehill.com/archives/2008/01/social-security-trust-fund.html/comment-page-1#comment-686 chuck Wed, 16 Jan 2008 20:31:00 +0000 http://www.reyonthehill.com/archives/2008/01/social-security-trust-fund.html#comment-686 The final sentence of your fifth paragraph is correct provided nothing is done to change the current situation. What the SSA actuaries are predicting is that in 2041, the SSA Trust Funds (both Retirement and Survivors, and Disability) will be paying out more than they take in--running a deficit, in other words. There are various ways to solve that future problem, none of them politically easy--use other government funds to make up the shortfall, raise FICA taxes, remove the earnings cap on FICA taxes, cut back benefits, or a mixture of all. (Note that privatization is not one of them, no matter what the current administration says.) As an longstanding employee of the agency in question and as one who is quite familiar with the problems and solutions, I eagerly await your comments and future analyses.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('686','chuck'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('686','chuck','The final sentence of your fifth paragraph is correct provided nothing is done to change the current situation. What the SSA actuaries are predicting is that in 2041, the SSA Trust Funds (both Retirement and Survivors, and Disability) will be paying out more than they take in--running a deficit, in other words. There are various ways to solve that future problem, none of them politically easy--use other government funds to make up the shortfall, raise FICA taxes, remove the earnings cap on FICA taxes, cut back benefits, or a mixture of all. (Note that privatization is not one of them, no matter what the current administration says.) As an longstanding employee of the agency in question and as one who is quite familiar with the problems and solutions, I eagerly await your comments and future analyses.'); return false;">Quote</a></div> The final sentence of your fifth paragraph is correct provided nothing is done to change the current situation. What the SSA actuaries are predicting is that in 2041, the SSA Trust Funds (both Retirement and Survivors, and Disability) will be paying out more than they take in–running a deficit, in other words. There are various ways to solve that future problem, none of them politically easy–use other government funds to make up the shortfall, raise FICA taxes, remove the earnings cap on FICA taxes, cut back benefits, or a mixture of all. (Note that privatization is not one of them, no matter what the current administration says.) As an longstanding employee of the agency in question and as one who is quite familiar with the problems and solutions, I eagerly await your comments and future analyses.
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