I am not a bot, and I doubt I'm the only grateful poster. I'm a very boring and very grateful mom of two larlas who I hope will not inherit a country drowning in debt. Would a bot know the dcum larla verbiage? Doubt it. Believe it or not, everyone who disagrees with you is not a Russian troll. Some people just think for themselves and have their own opinions - imagine that! |
I work for SSA, and this is not accurate. It is definitely solvent. The question is, for how long. Obviously, FICA taxes went down significantly during COVID. Less $ in, same beneficiaries. The insolvency moves a year closer. I was surprised it wasn’t worse. But, these are all projections. We won’t eat COVID levels forever. We hit a boom year, and we add a year or two to the projection that doesn’t mean social security is suddenly saved. Understand two other things: One, demographics are in SSA’s favor. In 20 years, Gen X will be Boomers will be dead for the most part and Millineals, which is a much larger generation than Gen X, will be at peak earning years. That will help a lot. Two, “insolvent” doesn’t mean checks stop. It mean we can’t pay full benefits. Instead, it would be 85-90%. Again, projections change. There are two ways to stabilize the trust fund— more money in or less money out. So, either raise FICA or lower benefits. If we hit insolvency without raising FICA, the decision is made. Benefits will be cut 12% or 15% or whatever the figure is. Functionally, that is no different than Congress voting to lower benefits I’m not saying it’s not a problem. Just be clear about what the problem is. Also: here’s what is a problem: the disability trust fund really is almost insolvent. |
Okay, thank you for addressing this and putting out an informative analysis. Now - say that someone on SS is only get 85% of benefits and they were expecting a check of $1,250. Knowing that inflation is the highest its ever been - groceries are sky high, gas is sky high, medicine is sky high, rent is sky high - how are these people, who were depending on a full check and suddenly getting $900 or $800 - supposed to live? A payment less $100 for a senior on no income means choosing between heat in the winter and food. This isn't free money. They've paid into these benefits with their jobs their whole lives. And the government knows that the full benefits are not coming. Yet they want to spend more on new programs when old programs and critical benefits are being cut? This makes no sense to me. At all. |
| House and Senate leaders are probably going to try one last-ditch effort to put a package together with climate and child care. Maybe ACA. I'm sure Biden will weigh in. Who knows if the progressives and Manchin can agree to anything at this point. |
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Exactly. So why does the BBB have more than 4/5ths of the bill devoted to social welfare? We wanted Covid and Climate Change tackled. THAT'S IT. No one asked for a progressive wish list to be pushed in like a liberal wet dream. |
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On a related note, whoever coined the "Build Back Better" moniker should get sacked pronto.
What a stupid name. It's like a dumbed down version of MAGA. |
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As far as cost of living goes - his 'yacht' is the cheaper option in the D.C. area. His fellow Senators and Pelosi are living in $2 million rowhomes and condos. |
| Manchin has said that any bill coming to the Senate without the Hyde Amendment is dead on arrival. |
| Plebes coming to beg to a rich good 'ol boy on his yacht. You can't make this sh#t up. |