Social Security Is Healthy -- There's No Need to "Save" It

[alienlovechild 75]

Most Americans would be astonished to discover that the most efficient insurance program in the world—in the history of the world, in fact—is the United States Social Security system. No private insurance company can come close to the returns Social Security has generated—ninety-nine cents on every dollar that comes in. Moreover, Social Security has never failed to send checks when they fall due, a sterling record that private industry cannot begin to match.

..far from being a system on the verge of collapse, Social Security in fact does exactly what it was created to do: keep America’s aged (and later her infirm, disabled, or orphaned) out of poverty without prejudice and with universal access.

If it's such a great system, why is everyone forced to pay into it? The American military great too but I wouldn't draft everyone and it's supposed to defend us and not is design make jobs for individuals. I would gladly forefit what I paid into it if it meant my kids wouldn't have to shackled to it as well. The myth of poverty stricken old folks is long gone with the over 65 types having an income above the average working stiffs. It was true when I read in in 1982 and probably more true now.

My uncle was an idiot who saved his money as a farmer and factory worker who now pays $5,000/month in a nursing home while most pay nothing under Medicare. Lesson- save nothing when you hit 65 or 70 so you can get a free ride or give your money to your kids or favorite charity.

It was subtly pointed out if SS went private like Bush suggested, and with the current status of the stock market, these old folks would be hurting.

Didn't have to base it on a stock. IRAs are just as safe and have usually have a higher return.

[NickD 203]

SS, gay marriages, some other stuff, anything to get our minds off of Iraq. The economy crisis came too late, but that is sure working.

[rclouse 0]

Social Security needs to be saved from the Republicans who have tried to kill it from inception.

Spot on, brother.

lets not forget the dems raided the coffers too.

So that means it should be eliminated?

[Ban Hammer 13,355]

Social Security needs to be saved from the Republicans who have tried to kill it from inception.

Spot on, brother.

lets not forget the dems raided the coffers too.

So that means it should be eliminated?

how you got there from my statement is beyond me. try getting a tom-tom.

[rclouse 0]

Social Security needs to be saved from the Republicans who have tried to kill it from inception.

Spot on, brother.

lets not forget the dems raided the coffers too.

So that means it should be eliminated?

how you got there from my statement is beyond me. try getting a tom-tom.

I said the Republicans have wanted to kill SS from the beginning. You said the Democrats have raided the coffers of SS, like the Republicans. How does the Democrats raiding SS mean they want to kill the program?

/uh, you talk like a ** and your ######'s all retarded

[w¡n9Nµ7 §£@¥€r 123]

Didn't have to base it on a stock. IRAs are just as safe and have usually have a higher return.

You can invest IRA monies in equities, you know. I think you don't quite understand what an IRA is.

[I AM NOT THAT GUY 5,715]

The latest report of the Social Security Trustees is out. I think the key message is what has happened to the estimate of actuarial balance — the difference between projected outlays and projected revenues over the next 75 years. This is the thing that's supposed to get steadily worse as time goes by, as the 75-year window contains ever fewer years in which the baby boomers are in the work force, paying payroll taxes, and ever more years when the boomers are out of the work force and collecting benefits.

In fact, however, the actuarial balance has been improving rather than worsening. It's now better than it's been since 1993. What this tells us is that projections made in the mid-to-late 1990s were, in the light of subsequent revisions, way too pessimistic.

Moral: Social Security's financial problem is relatively minor. It doesn't deserve the emphasis it receives from most pundits.

~ Krugman, NYT

http://krugman.blogs.nytimes.com/2008/03/2...-years-younger/

I guess your buddy did not bother to read the report. The current report shows that even if the bonds in the Social Security Trust fund are all fully redeemed from the General Fund, outlays exceed assets in 2041, and under current law, the projected benefits can no longer be paid in full. Further, just to get us to 2041 and pay the US General Fund obligations to Social Security Trust Fund, those payments will exceed sustainable revenue capacity long before then, perhaps by 2017, when the SSA begins redeeming those bonds.

[I AM NOT THAT GUY 5,715]

Didn't have to base it on a stock. IRAs are just as safe and have usually have a higher return.

You can invest IRA monies in equities, you know. I think you don't quite understand what an IRA is.

My IRA's are now worth less than the money I initially invested, so that screws that theory. I was doing good at the end of 2007, more than doubling my investment, now I am at about 15% under par. I am well poised for an economic recovery, my investment counselor tell me! Pfffft!

[alienlovechild 75]

Didn't have to base it on a stock. IRAs are just as safe and have usually have a higher return.

You can invest IRA monies in equities, you know. I think you don't quite understand what an IRA is.

Maybe, but I have a Roth IRA and you failed to explain anything. The point is there are secure alternatives. How about a CD? Do have any idea what the rate of return is on your SS account?

[one...two...tree 2,762]

Didn't have to base it on a stock. IRAs are just as safe and have usually have a higher return.

You can invest IRA monies in equities, you know. I think you don't quite understand what an IRA is.

Maybe, but I have a Roth IRA and you failed to explain anything. The point is there are secure alternatives. How about a CD? Do have any idea what the rate of return is on your SS account?

Social Security is insurance. How many investments pay out in the event of a disability or death, regardless of how much you paid into it? Only insurance works that way. If the Right Wingers would stop comparing SS to an investment, they could fully appreciate it's worth.

[Ban Hammer 13,355]

Social Security needs to be saved from the Republicans who have tried to kill it from inception.

Spot on, brother.

lets not forget the dems raided the coffers too.

So that means it should be eliminated?

how you got there from my statement is beyond me. try getting a tom-tom.

I said the Republicans have wanted to kill SS from the beginning. You said the Democrats have raided the coffers of SS, like the Republicans. How does the Democrats raiding SS mean they want to kill the program?

i didn't say the dems wanted to kill it either. put down the bong, dude!

Edited February 21, 2009 by charles!

[w¡n9Nµ7 §£@¥€r 123]

Didn't have to base it on a stock. IRAs are just as safe and have usually have a higher return.

You can invest IRA monies in equities, you know. I think you don't quite understand what an IRA is.

Maybe, but I have a Roth IRA and you failed to explain anything. The point is there are secure alternatives. How about a CD? Do have any idea what the rate of return is on your SS account?

You can invest your Roth money in equities if you wish. I failed to explain anything? Not my job. Do your own damn homework.

[Captain Ewok 1,891]

Social Security needs to be saved from the Republicans who have tried to kill it from inception.

Spot on, brother.

lets not forget the dems raided the coffers too.

So that means it should be eliminated?

how you got there from my statement is beyond me. try getting a tom-tom.

I said the Republicans have wanted to kill SS from the beginning. You said the Democrats have raided the coffers of SS, like the Republicans. How does the Democrats raiding SS mean they want to kill the program?

/uh, you talk like a ** and your ######'s all retarded

This is a warning to be more respectful. Further actions will be dealt with by me or another moderator if required. Thank you.

[w¡n9Nµ7 §£@¥€r 123]

[Jenn! 918]

I'm pretty sure that was a film reference.