The annual US budget shortfall is now near its lowest level in six years.
Second, the D.C. influence of the political group most committed to deficit reduction ? tea party Republicans ? has ebbed. In the House, it?s clear that the tea party can only push Speaker John Boehner so far. They?re unable or unwilling to depose him if he strikes fiscal deals they don?t like. In the Senate, new majority leader Mitch McConnell has deftly isolated the most conservative members of his caucus as he consolidates his position. It?s notable that the eight votes against the doc fix included tea party stalwarts Sen. Mike Lee of Utah and Sen. Ted Cruz of Texas, as well as Sen. Marco Rubio of Florida.
SS is a Ponzi scheme which works as long as you have enough people paying in. When it started, we have many more workers than people drawing out. The numbers have flipped on us. We still have more workers, but just barely, and it is dwindling.
Medicare is a major issue too. Your most expensive year is your last year, obviously. The costs is going to be the biggest issue going forward, especially with govt healthcare. We need to be really seeking ethical and moral answers to that. I fear that what will happen is that euthanasia will be pushed. That isn't ethical or moral.
It is to some extent because many take out much more than they contribute.
I am OK with that. I "overpay" into Social Security. Things could have gone bad during my life but they didn't. For a society it is a backup plan to keep the elderly out of poverty. From living under bridges. I am OK with that.
When SS started, people didn't live as long. Modern medicine is what is truly bankrupting it. They did not forsee people living into their 90s.
True. Social Security was a safety net to keep people out of the gutter as they aged. When the retirement age was set at 65, the life expectancy for a white male (all they really looked at at the time) was 66. In addition, there were more workers per retiree than now. We must curtail benefits for people who don't need them as much and raise the retirement age, as it already has been raised with a phase in from 65 to 67. The republic hasn't folded with that notion.