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Read a distrubing artical titled "U.S. Social Secruity Will Go Bankrupt In 2010".

http://thecomingdepression.blogspot.com/

I plan on retiring in 4 more years. Are they telling me I wont get my government check?

Will I have to stand in line for my handout from the Obama Stash?

#*(( NO! I'll be at my homestead, tending the animals/chores and eatting from my stored preps. Aint life good!
 
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Lew Rockwell and friends have been ushering in the dark ages since they were buddies with Ayn Rand. It hasn't happened yet.

Our elected officials will do everything in their power to keep Social Security afloat so as to appease seniors and Baby Boomers. Any party that abandons SS can forget reelection.

That said, what's really frightening isn't the collapse of SS, it is what will be compromised and sacrificed to keep that old barge afloat.
 

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Standing Vigilant
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#*(( NO! I'll be at my homestead, tending the animals/chores and eatting from my stored preps. Aint life good!
I love your grit Ramona.

Who needs or wants their stinking checks anyway?
It's great you are prepared and are not relying on
any govt. program....knowing they won't keep their
promises even though you contributed to this stinking
program all your life.

Now if we could just figure a way to STOP paying into
it any further.:cool:

Doginit
 

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Doesn't matter. They are still going to pay it. If they do not, SS recipients will have to fall back on their children. And, their children sure as heck will not put up with having to take care of their parents themselves.

In fact, a lot of the "children" have moved in with Mom and Dad who have their house paid for and they are currently living off the SS check of the elder generation. The government will pay SS come what may or it won't be just the older folks who raise Cain about it. All they will do is extend the retirement age, which is fair since the life expectancy has gone up so much. It was never supposed to support people for so many years of their lives.

SS is a good way for money to be put into the economy and the government is looking for all kinds of ways to put money into the economy. Remember this. If they stopped putting that money into the economy, it wouldn't be spent. And, if it were not spent, that would cause even more massive unemployment which would put even more people collecting government benefits and the government would have fewer earners to collect taxes from which would cause a much greater massive downward spiral than just paying the SS. How are going to pay for it? Why on the never, never plan just like all the rest of the government debt. So, there really is no problem.
 

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4 Fried Chickens & A Coke
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Doomed since day 1

The ultimate ponzi scheme

Forcefully take money from the working productive youth, then give it to the retired people who don't work

That can only last so long before more people take then are paying in.

Ida Fuller, the first recipiant of SS, paid $24.75 into the sytem and in return got $22,888.92

http://en.wikipedia.org/wiki/Ida_May_Fuller
 

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Cranky old man
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Two words...

Two words: "needs testing".

Bankruptcy? Do you think the Feds care? Heck - the maniacs that are running the government will probably welcome Social Security going bankrupt. If Social Security becomes insolvent, all bets are off and they can change the rules. It is likely they will go to a "needs testing" format in which people that have any money saved up, or have an IRA/401k, or equity in their homes won't be eligible to collect until they're penniless.

Needs testing for Social Security -- like all redistributive economic schemes -- is immensely appealing to the Marxists that are running the US government these days.
 

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VA / NC
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Read a distrubing artical titled "U.S. Social Secruity Will Go Bankrupt In 2010".

http://thecomingdepression.blogspot.com/

I plan on retiring in 4 more years. Are they telling me I wont get my government check?

Will I have to stand in line for my handout from the Obama Stash?

#*(( NO! I'll be at my homestead, tending the animals/chores and eatting from my stored preps. Aint life good!
Ramona not trying to hijack or anything - just additional info. Heard today that NY State is officially broke too, but that instead of doing the public option bit, they are now trying to move medicare / medicaid age to 53. Shoot maybe we will get something.
 

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Watchin tha world go by
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How can it possibly be bankrupt ----

it has a stacks of I.O.U.s
 

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If the government does default on supporting the elderly, then the elderly will become an even greater burden on the young. Parents will have to go live with their children and their children will have no jobs. If people see their old mothers and fathers starving and dying in the streets, the government will be toppled. It is one thing to talk about defaulting on support for the elderly. It is an entirely different matter to really see your own mother fundless and homeless.

The old will not suddenly disappear. If their funds are cut off, they will be everywhere you go. You will have to step over them to get in your own front door if you live in an apartment. They will litter the malls and be in every isle at Wal-Mart. If it is unlocked, you will find them taking shelter in your car at night. They will go through your trash looking for food scraps. Gangs of elderly will form. Finding strength in numbers, they will break into your home and assault you on the streets for your clothes if they find you alone.

Now, they are hidden off in little apartments. If they are forced out of those apartments and have no resources to stay alive other than taking what they can get from you, what will you do then? Are you going to get your guns and shoot down all the elderly? Will you shoot your mother? How about your grandmother? Are you OK with it if someone else does?
 

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Back of beyond!
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I think that if SS goes bankrupt, all the senior citizens who have been paying into it all of these years would become homicidal. Washington DC would become a war zone, and the prez would have to permanently live in the Air Force 1, and stay in the air to avoid being annihilated!
You'd see grannie with her cane (or AK-47), going ballistic! The politically correct in Washington would have to run for their lives!
 

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SSanf, do not take this the wrong way but you sound as if you do not know how Social Security actually works. Social Security, much like other financial and economic systems, cannot and should not be viewed in isolation. You must understand how Social Security is funded, managed, and how it works in relationship with other entitlement programs.

There is no money in the SS Trust Fund. Not "a little", not "some", literally $0. The Trust fund holds special issue bonds. If you understand that and how SIB's work, then I cannot fathom how anyone can not understand how the SS Fund is broke or funded. The trust is funded so long as there are buyers for those SIB's. Once those buyers dry up, you have significant issues on the balance sheet of our government regarding higher interest rates. We take from the trust to fund other ventures and failures that our government undertakes. We have a lower replacement worker ratio, or the number of workers supporting those retirees under SS Program, than ever before. I have spoken at length about how our demographics play a major role in our economic system, much like Japan's. The pyramid is now upside down and we have more people drawing off the system than we do supporting it. Tax receipts are down 30% this year alone and our government has issued record debt this year alone just to fund "other" programs, forget what it now needs to fund SS with.

The status of the SS Trust Fund depends entirely on the government's ability to issue debt for those claims, it has nothing to do with stepping over grandma'. If you think humanity comes into play here, you are wrong. You are making a humanitarian argument for something that boils down to a simple fundamental called "supply and demand". We fund things with debt, we do not produce anything. When that debt cannot be sold, the games are over. It is as simple and complicated as that.
 

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I help enlighten folks
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how much does an average person pay into social security compared to what they draw out?
 

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Here's my safety Sir
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If they were to take what would be given to the UN for one or two years and put into SS we would probable be ok for the next 50-60 years.


"Alexander Hamilton started the U.S. Treasury with nothing, and that was the closest our country has ever been to being even."
Will Rogers
 

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Here's my safety Sir
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how much does an average person pay into social security compared to what they draw out?
John,
just wondering don't you pay into SS. No offense but if you do you should be able to answer your question for us.

I know what I put in and what I should expect to get out.
 
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