Medicare is bankrupt by 2026 and Social Security by 2034, how do we save them?

[whitehall]

What economic theory indicates the target dates of 2026 and 2034? Notice the the dates aren't rounded off to 2025 and 2035 would actually give them some credibility. What if the DOW was around 35000 in 2025 and the GDP was around 6 or 7? Would that make a difference?

 

[caddo kid]

We don’t. Let it go bankrupt.

...that was a straight up psychopath comment.

Are you a psychopath Mike?

I will never see a penny from them even though I paid into them all my life so I say fuck them...

So nice to see you so bitter; you remind me of others here. Bitter.

 

[eagle1462010]

The Founding Fathers warned us..............We didn't listen.......

They studied every form of Gov't.........and how they failed ......tried to come up with a Gov't that was fool proof......is we followed it............

We didn't.............Wilson was the first.......Super Liberal.........Started the income tax........and spending for the General Welfare............Then the Great Depression................FDR ............never let a good crisis go to waste.........like the Depression and WWII............Put the path on Steroids..............and corruption grew over time................to the point where we are at today.............Corruption in Gov't out the Wazoo...................

Politicians making promises they can never keep................the unfunded liabilities of Social........and pensions........are massive........We can't pay them.............

So the whole thing.......as the Founders Warned ..............will come crashing down........It is inevitable.............

 

[Natural Citizen]

End them. That's the real conservative solution.

 

[eagle1462010]

Your Pension Is a Lie: There's $210 Trillion Of Liabilities Our Government Can't Fulfill

$210 Trillion Worth of Unfunded Liabilities
An old statute requires the Treasury to issue an annual financial statement, similar to a corporation’s annual report. The FY 2016 edition is 274 enlightening pages that the government hopes none of us will read.

Among the many tidbits, it contains a table on page 63 that reveals the net present value of the US government’s 75-year future liability for Social Security and Medicare.

That amount exceeds the net present value of the tax revenue designated to pay those benefits by $46.7 trillion. Yes, trillions.

Where will this $46.7 trillion come from? We don’t know.

Future Congresses will have to find it somewhere. This is the fabled “unfunded liability” you hear about from deficit hawks. Similar promises exist to military and civil service retirees and assorted smaller groups, too.

Trying to add them up quickly becomes an exercise in absurdity. They are so huge that it’s hard to believe the government will pay them, promises or not.

Now, I know this is going to come as a shock, but that $46.7 trillion of unfunded liabilities is pretty much a lie. My friend Professor Larry Kotlikoff estimates the unfunded liabilities to be closer to $210 trillion.

Pensions Are a Lie
Many Americans think of “their” Social Security like a contract, similar to insurance benefits or personal property. The money that comes out of our paychecks is labeled FICA, which stands for Federal Insurance Contributions Act. We paid in all those years, so it’s just our own money coming back to us.

That’s a perfectly understandable viewpoint. It’s also wrong.

 

[Ray From Cleveland]

Why are people talking about "Medicare for all" when its going bankrupt and can't fully pay what is owed current retirees? (just google it)
Unless we fix Medicare it will be able to only pay 91% of benefits by 2026. Read the following article:
Repeat after me: Social Security and Medicare are not insolvent
So we all will need to pay more to keep Medicare afloat....

Social security will only be able to pay 77% unless we do the following (from the article):
"Conservatives favor benefit cuts to SS via higher retirement ages, more means-testing and a less generous annual cost-of-living adjustment. Progressives advocate gradually increasing payroll taxes and lifting the cap on taxable benefits. Considering that middle-class households depend mainly on Social Security for support in retirement, it would be wiser to follow the progressive agenda."

Please share your ideas on ways to save Medicare and SS

None of your answers make any sense. The correct answer is stop giving tax breaks to billionaire and megacorp and insist that companies pay an actual living wage so not only will the people what are gonna use it contribute to it they also won't need welfare, food stamps, or any other backdoor corporate subsidies to eat so that money will be available as well.

Yep, a total government takeover of industry. What can go wrong with that?

 

[Ray From Cleveland]

Why are people talking about "Medicare for all" when its going bankrupt and can't fully pay what is owed current retirees? (just google it)
Unless we fix Medicare it will be able to only pay 91% of benefits by 2026. Read the following article:
Repeat after me: Social Security and Medicare are not insolvent
So we all will need to pay more to keep Medicare afloat....

Social security will only be able to pay 77% unless we do the following (from the article):
"Conservatives favor benefit cuts to SS via higher retirement ages, more means-testing and a less generous annual cost-of-living adjustment. Progressives advocate gradually increasing payroll taxes and lifting the cap on taxable benefits. Considering that middle-class households depend mainly on Social Security for support in retirement, it would be wiser to follow the progressive agenda."

Please share your ideas on ways to save Medicare and SS

If Congress adopted President Bush's idea to invest social security into the stock market, it wouldn't be a problem.

Buying the market at the lows of 08-09, SS recipients would be sitting pretty now

I'm pushing 60 right now. Every couple of years SS sends out a pamphlet stating all your (and your employers) contributions to the system. They also include what you would be paid if you retired today, in the next couple of years, at 65 and 70.

Take that pamphlet to any reputable investment company and ask what you would be worth today had all that money been invested in a conservative growth fund all these years. You'd probably have a heart attack to know what you'd be worth by the time you retired.

If I decided to work until the age of 65, died on that day, my heirs would get my possessions. They would get my checking account, my savings account, my IRA money, my rental property.......what they would not see is one dime of all the SS money I put into the system.

 

[WillowTree]

I'm not on Medicare and my pension is privately funded ... so ... who cares?

When you turn 65 you will be automatically on Medicare! If it’s still there and the fucking democrats haven’t passed the Medicare for all bullshit!

 

[fncceo]

I'm not on Medicare and my pension is privately funded ... so ... who cares?

When you turn 65 you will be automatically on Medicare! If it’s still there and the fucking democrats haven’t passed the Medicare for all bullshit!

I have private health cover as part of my pension.

 

[Ray From Cleveland]

We don’t. Let it go bankrupt.

when the US government allows seniors to get FUCKED that have paid into these programs for DECADES, then expect some SERIOUS civil unrest in America. If folks do not think that 'family' members won't look after gramps & granny, after they are getting screwed by Uncle Sam; LOL

Correct, that's why you phase out the programs instead of just cutting them off. I too paid into the system all of my life and I expect to get back what's rightfully coming to me.

But we need a different way of doing things with younger people today. The problem is they too don't want to pay into a program that they will not get benefits from. That's the negative result of any Ponzi scheme like SS.

 

[Crepitus]

Why are people talking about "Medicare for all" when its going bankrupt and can't fully pay what is owed current retirees? (just google it)
Unless we fix Medicare it will be able to only pay 91% of benefits by 2026. Read the following article:
Repeat after me: Social Security and Medicare are not insolvent
So we all will need to pay more to keep Medicare afloat....

Social security will only be able to pay 77% unless we do the following (from the article):
"Conservatives favor benefit cuts to SS via higher retirement ages, more means-testing and a less generous annual cost-of-living adjustment. Progressives advocate gradually increasing payroll taxes and lifting the cap on taxable benefits. Considering that middle-class households depend mainly on Social Security for support in retirement, it would be wiser to follow the progressive agenda."

Please share your ideas on ways to save Medicare and SS

None of your answers make any sense. The correct answer is stop giving tax breaks to billionaire and megacorp and insist that companies pay an actual living wage so not only will the people what are gonna use it contribute to it they also won't need welfare, food stamps, or any other backdoor corporate subsidies to eat so that money will be available as well.

Yep, a total government takeover of industry. What can go wrong with that?

View attachment 213908

That's a nice straw man, did you build it all by yourself?

 

[caddo kid]

We don’t. Let it go bankrupt.

when the US government allows seniors to get FUCKED that have paid into these programs for DECADES, then expect some SERIOUS civil unrest in America. If folks do not think that 'family' members won't look after gramps & granny, after they are getting screwed by Uncle Sam; LOL

Correct, that's why you phase out the programs instead of just cutting them off. I too paid into the system all of my life and I expect to get back what's rightfully coming to me.

But we need a different way of doing things with younger people today. The problem is they too don't want to pay into a program that they will not get benefits from. That's the negative result of any Ponzi scheme like SS.

everything about America is a Ponzi scheme; most folks aint smart enuff to know that tho'

 

[Ray From Cleveland]

Why are people talking about "Medicare for all" when its going bankrupt and can't fully pay what is owed current retirees? (just google it)
Unless we fix Medicare it will be able to only pay 91% of benefits by 2026. Read the following article:
Repeat after me: Social Security and Medicare are not insolvent
So we all will need to pay more to keep Medicare afloat....

Social security will only be able to pay 77% unless we do the following (from the article):
"Conservatives favor benefit cuts to SS via higher retirement ages, more means-testing and a less generous annual cost-of-living adjustment. Progressives advocate gradually increasing payroll taxes and lifting the cap on taxable benefits. Considering that middle-class households depend mainly on Social Security for support in retirement, it would be wiser to follow the progressive agenda."

Please share your ideas on ways to save Medicare and SS

If we are going to have these programs, then we must fund them. That's the only solution.

The problem is Democrats will not level with Americans. If we increase the contributions to SS and Medicare, the public would demand the ability to opt out, and Democrats don't want that.

Instead, they lie to the people telling them everything is okay. It's nothing to worry about. Republicans are just trying to scare you.

 

[Ray From Cleveland]

Why are people talking about "Medicare for all" when its going bankrupt and can't fully pay what is owed current retirees? (just google it)
Unless we fix Medicare it will be able to only pay 91% of benefits by 2026. Read the following article:
Repeat after me: Social Security and Medicare are not insolvent
So we all will need to pay more to keep Medicare afloat....

Social security will only be able to pay 77% unless we do the following (from the article):
"Conservatives favor benefit cuts to SS via higher retirement ages, more means-testing and a less generous annual cost-of-living adjustment. Progressives advocate gradually increasing payroll taxes and lifting the cap on taxable benefits. Considering that middle-class households depend mainly on Social Security for support in retirement, it would be wiser to follow the progressive agenda."

Please share your ideas on ways to save Medicare and SS

None of your answers make any sense. The correct answer is stop giving tax breaks to billionaire and megacorp and insist that companies pay an actual living wage so not only will the people what are gonna use it contribute to it they also won't need welfare, food stamps, or any other backdoor corporate subsidies to eat so that money will be available as well.

Yep, a total government takeover of industry. What can go wrong with that?

View attachment 213908

That's a nice straw man, did you build it all by yourself?

What straw man? You said increase taxes on the wealthy and corporations, force them to pay a living wage (whatever that is) and everything will be fine.

The truth is tax breaks (or lowering what they pay) didn't cause this problem. Trump only lowered taxes last year. Quit telling yourself that taking other people's money is the solution to all our problems. That's why we have these problems today.

 

[Rustic]

We don’t. Let it go bankrupt.

...that was a straight up psychopath comment.

Are you a psychopath Mike?

I will never see a penny from them even though I paid into them all my life so I say fuck them...

So nice to see you so bitter; you remind me of others here. Bitter.

Na, I just don’t count on socialist entitlement programs for anything...

 

[gipper]

Why are people talking about "Medicare for all" when its going bankrupt and can't fully pay what is owed current retirees? (just google it)
Unless we fix Medicare it will be able to only pay 91% of benefits by 2026. Read the following article:
Repeat after me: Social Security and Medicare are not insolvent
So we all will need to pay more to keep Medicare afloat....

Social security will only be able to pay 77% unless we do the following (from the article):
"Conservatives favor benefit cuts to SS via higher retirement ages, more means-testing and a less generous annual cost-of-living adjustment. Progressives advocate gradually increasing payroll taxes and lifting the cap on taxable benefits. Considering that middle-class households depend mainly on Social Security for support in retirement, it would be wiser to follow the progressive agenda."

Please share your ideas on ways to save Medicare and SS

Simple. Cut Defense (really war) Department by 90%. Turn the Pentagon into affordable housing and terminate the CIA, NSA, and Homeland Security.

Problem solved with numerous additional benefits for the American people.