Social Security Quietly Slips in Deficits - The Orange Mane

JJJ · 01-31-2011, 09:36 PM

Hey LABF. You still on the record saying Social Security is in fine shape, you know running surpluses and all.

http://www.southcoasttoday.com/apps/...WS19/101280312

Social Security posting $600B deficit over 10years
January 28, 2011 12:00 AM
The Associated Press

WASHINGTON — Social Security will post nearly $600 billion in deficits over the next decade as the economy struggles to recover and millions of baby boomers stand at the brink of retirement, according to new congressional projections.

This year alone, Social Security is projected to collect $45 billion less in payroll taxes than it pays out in retirement, disability and survivor benefits, the nonpartisan Congressional Budget Office said Wednesday. That figure swells to $130 billion when a new one-year cut in payroll taxes is included, though Congress has promised to repay any lost revenue from the tax cut.

Last year, Social Security posted its first deficit since the program was last overhauled in the 1980s. The CBO said at the time that Social Security would post surpluses for a few more years before permanently slipping into deficits in 2016.

But the new projections show nothing but red ink until the Social Security trust funds are exhausted in 2037.

Pseudofool · 01-31-2011, 09:43 PM

Some things are worth running as a lost. I'm down to take care of my elderly neighbor's NO MATTER THE COST. Grow some balls: help out or shut up.

JJJ · 01-31-2011, 09:52 PM

Quote:

Originally Posted by Pseudofool

Some things are worth running as a lost. I'm down to take care of my elderly neighbor's NO MATTER THE COST. Grow some balls: help out or shut up.

Excellent. Family and friends are the best support mechanism elderly folks can have.

Not really sure how this relates to the thread though. How does SS running at a hopeless deficit help your neighbors?

ant1999e · 01-31-2011, 10:28 PM

Quote:

Originally Posted by JJJ

Excellent. Family and friends are the best support mechanism elderly folks can have.

Not really sure how this relates to the thread though. How does SS running at a hopeless deficit help your neighbors?

Guess he doesn't understand the meaning of deficit.

L.A. BRONCOS FAN · 01-31-2011, 11:50 PM

Quote:

Originally Posted by JJJ

Hey LABF. You still on the record saying Social Security is in fine shape, you know running surpluses and all.

On the record saying what?

Quote/link, please.

In any event, I'll bet you and the rest of Red Ink Ron's SS looters and anti-SS crusaders can't wait to proclaim "mission accomplished" and claim that the results of said looting are evidence that the program was inherently flawed to begin with.

epicSocialism4tw · 02-01-2011, 12:22 AM

Quote:

Originally Posted by Pseudofool

Some things are worth running as a lost. I'm down to take care of my elderly neighbor's NO MATTER THE COST. Grow some balls: help out or shut up.

Sorry man, but your social security money isnt helping your elderly neighbor.

If you want to help your elderly neighbor, get up, make some cookies, go on over there and sit down and talk to him. Find out how often he mows his lawn and tell him that you'll do it for him.

You'll find that you enjoy the time you spend over there as much or more than he does.

L.A. BRONCOS FAN · 02-01-2011, 12:26 AM

Quote:

Originally Posted by epicSocialism4tw

Sorry man, but your social security money isnt helping your elderly neighbor.

Really, genius?

Maybe you should go knock on all of your elderly neighbors' doors and find out how many of them are all for getting rid of SS.

epicSocialism4tw · 02-01-2011, 12:33 AM

Quote:

Originally Posted by L.A. BRONCOS FAN

Really, genius?

Maybe you should go knock on all of your elderly neighbors' doors and find out how many of them are all for getting rid of SS.

His social security goes to the deficit, which Obama increased.

L.A. BRONCOS FAN · 02-01-2011, 12:38 AM

Quote:

Originally Posted by epicSocialism4tw

His social security goes to the deficit, which Obama increased.

After eight years of covering Bush's flank, you suddenly discover deficits.

How convenient.

epicSocialism4tw · 02-01-2011, 12:40 AM

Quote:

Originally Posted by L.A. BRONCOS FAN

After eight years of covering Bush's flank, you suddenly discover deficits.

How convenient.

I guess all Bush's spending was racked up building his mass conspiracy to destroy the twin towers, eh?

L.A. BRONCOS FAN · 02-01-2011, 12:42 AM

Quote:

Originally Posted by epicSocialism4tw

I guess all Bush's spending was racked up building his mass conspiracy to destroy the twin towers, eh?

Bush's spending?

What spending?

Didn't Bush leave office with a budget surplus?

Oh wait...

epicSocialism4tw · 02-01-2011, 12:46 AM

Quote:

Originally Posted by L.A. BRONCOS FAN

Bush's spending?

What spending?

Didn't Bush leave office with a budget surplus?

Oh wait...

He had to spend tons of money covering up that mass 9/11 conspiracy, didnt he?

L.A. BRONCOS FAN · 02-01-2011, 12:53 AM

Quote:

Originally Posted by epicSocialism4tw

He had to spend tons of money covering up that mass 9/11 conspiracy, didnt he?

I guess this is you waving the white flag in the SS debate, eh EpicSpamMonkey?

NhocCuteGirlz · 02-01-2011, 12:57 AM

Some things are worth running as a lost. I'm down to take care of my elderly neighbor's NO MATTER THE COST. Grow some balls: help out or shut up.
__________________

mhgaffney · 02-01-2011, 01:00 AM

SS was in fine shape until the politicos raided the SS funds.

So your solution is to abolish SS?

Why not prosecute the bastards who stole our money?

So it doesn't happen again. Otherwise it surely will.

Is that too simple?

Garcia Bronco · 02-01-2011, 07:43 AM

Quote:

Originally Posted by Pseudofool

Some things are worth running as a lost. I'm down to take care of my elderly neighbor's NO MATTER THE COST. Grow some balls: help out or shut up.

You are an idiot. Good grief.

Garcia Bronco · 02-01-2011, 07:45 AM

Quote:

Originally Posted by L.A. BRONCOS FAN

On the record saying what?

Quote/link, please.

In any event, I'll bet you and the rest of Red Ink Ron's SS looters and anti-SS crusaders can't wait to proclaim "mission accomplished" and claim that the results of said looting are evidence that the program was inherently flawed to begin with.

You said many times during the "privatize SS" debate that "SS was not in crisis". Those were your exact words.

Rohirrim · 02-01-2011, 08:22 AM

We should take money from our bloated military budget and prop SS up with it. Our people are more important than our weapons.

Mile High Shack · 02-01-2011, 08:46 AM

Its been in trouble since 1980 and not one president has done anything about it. Neither side gives a crap about fixing it

epicSocialism4tw · 02-01-2011, 09:00 AM

Quote:

Originally Posted by Garcia Bronco

You said many times during the "privatize SS" debate that "SS was not in crisis". Those were your exact words.

He says whatever his organizers tell him to say.

If someone lined up all of LABF's contradictions, it would take up enough bandwidth to crash this site.

Mile High Shack · 02-01-2011, 09:44 AM

Quote:

Originally Posted by epicSocialism4tw

He says whatever his organizers tell him to say.

If someone lined up all of LABF's contradictions, it would take up enough bandwidth to crash this site.

You just can't make up this kind of irony

Pony Boy · 02-01-2011, 10:14 AM

but... but.... but... I thought all the money I've paid in went into a lock box because I wasn't smart enough to save for my own retirement?

Rohirrim · 02-01-2011, 11:28 AM

We could take $600 billion from the military/industrial complex budget over ten years to shore up SS just until the Boomer bubble passes and I doubt they would even miss it.

Fedaykin · 02-01-2011, 12:22 PM

From the OP's article:

Quote:

The deficits add a sense of urgency to efforts to improve Social Security's finances. For much of the past 30 years, Social Security has run big surpluses, which the government has borrowed to spend on other programs. Now that the program is running deficits, the federal government will have to find money elsewhere to pay back Social Security, so it continue to issue benefits.

Brought to you by Reagan.

MplsBronco · 02-01-2011, 12:23 PM

Quote:

Originally Posted by mhgaffney

SS was in fine shape until the politicos raided the SS funds.

So your solution is to abolish SS?

Why not prosecute the bastards who stole our money?

So it doesn't happen again. Otherwise it surely will.

Is that too simple?

THIS. The fund is full of IOU's. The money, our money, has been stolen.

01-31-2011, 09:36 PM	#1
JJJ Ring of Famer Join Date: Jun 2007 Location: Confederation Helvetica Posts: 2,957 Adopt-a-Bronco: None	Social Security Quietly Slips in Deficits Hey LABF. You still on the record saying Social Security is in fine shape, you know running surpluses and all. http://www.southcoasttoday.com/apps/...WS19/101280312 Social Security posting $600B deficit over 10years January 28, 2011 12:00 AM The Associated Press WASHINGTON — Social Security will post nearly $600 billion in deficits over the next decade as the economy struggles to recover and millions of baby boomers stand at the brink of retirement, according to new congressional projections. This year alone, Social Security is projected to collect $45 billion less in payroll taxes than it pays out in retirement, disability and survivor benefits, the nonpartisan Congressional Budget Office said Wednesday. That figure swells to $130 billion when a new one-year cut in payroll taxes is included, though Congress has promised to repay any lost revenue from the tax cut. Last year, Social Security posted its first deficit since the program was last overhauled in the 1980s. The CBO said at the time that Social Security would post surpluses for a few more years before permanently slipping into deficits in 2016. But the new projections show nothing but red ink until the Social Security trust funds are exhausted in 2037.

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01-31-2011, 09:43 PM	#2
Pseudofool Cynic at Large Join Date: Feb 2007 Location: The Kingdom of Solipsism Posts: 2,886 Adopt-a-Bronco: Me?	Some things are worth running as a lost. I'm down to take care of my elderly neighbor's NO MATTER THE COST. Grow some balls: help out or shut up.

02-01-2011, 12:57 AM	#14
NhocCuteGirlz Just Drafted New to the Forum Join Date: Jan 2011 Posts: 26 Adopt-a-Bronco: None	Some things are worth running as a lost. I'm down to take care of my elderly neighbor's NO MATTER THE COST. Grow some balls: help out or shut up. __________________

02-01-2011, 01:00 AM	#15
mhgaffney Ring of Famer Join Date: Apr 2006 Posts: 9,780	SS was in fine shape until the politicos raided the SS funds. So your solution is to abolish SS? Why not prosecute the bastards who stole our money? So it doesn't happen again. Otherwise it surely will. Is that too simple?

02-01-2011, 08:22 AM	#18
Rohirrim Partisan Human Cannonball Join Date: Jan 2003 Location: Twixt Hell & Highwater Posts: 48,854	We should take money from our bloated military budget and prop SS up with it. Our people are more important than our weapons.

02-01-2011, 08:46 AM	#19
Mile High Shack Ring of Famer Cock-a-doodle-do Join Date: May 2001 Location: Somewhere Posts: 17,010	Its been in trouble since 1980 and not one president has done anything about it. Neither side gives a crap about fixing it

02-01-2011, 10:14 AM	#22
Pony Boy "Whoa Nellie" Rub some dirt on it Join Date: Mar 2009 Posts: 6,315 Adopt-a-Bronco: mellon head	but... but.... but... I thought all the money I've paid in went into a lock box because I wasn't smart enough to save for my own retirement?

02-01-2011, 11:28 AM	#23
Rohirrim Partisan Human Cannonball Join Date: Jan 2003 Location: Twixt Hell & Highwater Posts: 48,854	We could take $600 billion from the military/industrial complex budget over ten years to shore up SS just until the Boomer bubble passes and I doubt they would even miss it.