Social Security and Medicare cuts now on the table

[eytonxav]

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Originally Posted by Independent I hope you realize that wherever it went, we're not going to get it back. It's either extra spending or extra tax cuts that wouldn't have happened otherwise. .

Do you think I'm delusional or just popped out from under a cabbage leaf

Heck, we can't even get the wallstreet crooks to return the $$ they absconded with, but wouldn't it be nice.

[youbet]

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Originally Posted by donheff In 2000 we had a huge surplus. Bush said "let's give a bunch of it back," and did. So, of course there is no surplus anymore. That's is why many of us believe the cuts were always intended to force a crisis that could lead to privatization or other means to cut social programs back. Add two unfunded wars and spending to address a collapse and we have a huge mess to dig out of.

Dems would have created the same situation. No, they wouldn't have cut taxes across the board as the Republicans did. They would have left taxes alone and increased spending to create the same crisis. Same goals, different means.

[2B]

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Originally Posted by DFW_M5 Do you think I'm delusional or just popped out from under a cabbage leaf.

Is this a multiple choice question?

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Originally Posted by DFW_M5 Heck, we can't even get the wallstreet crooks to return the $$ they absconded with, but wouldn't it be nice.

Hell, it doesn't even look like we can get them to pay taxes on it.

[Midpack]

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Originally Posted by Alan I don't think it is new news. Who on this forum is not expecting SS cuts and planning for them?

No one who has a pulse. I plan on no more than 50% and am prepared for less. If I'm wrong, I'll do some travel I wouldn't have otherwise.

I expect Medicare is going to be even worse unless we adopt a universal health care system like every other developed country (not simply institutionalizing our current mess of a costly system), but I'll believe that when I see it. Politicians won't propose real changes because 'we the people' won't let them when all is said and done - we get what we deserve.

[donheff]

Sorry for taking this in a political direction I saw the subject and assumed it was in the political forum. So, I agree, lets forget the whys and focus on the what nexts -- at least in this forum

[haha]

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Originally Posted by Midpack I plan on no more than 50% and am prepared for less. If I'm wrong, I'll do some travel I wouldn't have otherwise.

Don't worry, if your avatar is your photo, you probably can travel for free.

Ha

[Mulligan]

Maybe someone who is smarter than me please help me with this question, as I can't get my arms wrapped around the whole budget. We are overspending currently approx. 30% of our yearly government revenues. However, none of this overspending is caused CURRENTLY by Medicare or SS. I know long term there is a problem, but shouldn't it be first things first, and cut the current overspending problems before, the other 2 programs are pared down?

[rescueme]

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Originally Posted by Mulligan I know long term there is a problem, but shouldn't it be first things first, and cut the current overspending problems before, the other 2 programs are pared down?

You're not looking at it properly ...

Slight of hand in any government (regardless of party) is normal SOP.

Never, never look behind the curtain (e.g. Wizard of Oz). Concentrate on what is in front of you, and make sure the folks only see the "smoke and mirrors" of the problem that you want them to concentrate on.

Get it now ... ?

(OOPS - political rant ...)

[W2R]

Each time I read one of these stories threatening SS cuts, I am tempted to run right out and claim my SS before it vanishes or decreases drastically. After all, I'm 63. I could do that.

In my individual case it would normally seem preferable to wait a bit longer for SS. Still, these stories are pretty alarming when you are already retired and eligible, but just haven't made that claim quite yet.

I am still hanging on. Hopefully anything that is done will not affect someone who is already 63.

[Alan]

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Originally Posted by W2R I am still hanging on. Hopefully anything that is done will not affect someone who is already 63.

DW is thinking about seeing a plastic surgeon to ask he/she can make her look older

[MasterBlaster]

Nancy Pelosi is irrelevant to the deal being a House Democrat in the minority. The action will be with Senate Democrats and House Republicans. Or perhaps the action will be with moderates of both parties.

Before a deal is cut, expect Liberal Democrats (like Nancy P) and conservative Rebublicans to scream bloody murder. That's when you will know they are close to a deal.

[Alan]

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Originally Posted by haha Democrats Break With Obama, Oppose Entitlement Cuts In Debt Ceiling Deal

I can't be fussed to click on this link. Are you saying not to worry about SS and Medicare cuts?

A quote or comment on a "naked link" would be useful.

[Texas Proud]

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Originally Posted by Mulligan Maybe someone who is smarter than me please help me with this question, as I can't get my arms wrapped around the whole budget. We are overspending currently approx. 30% of our yearly government revenues. However, none of this overspending is caused CURRENTLY by Medicare or SS. I know long term there is a problem, but shouldn't it be first things first, and cut the current overspending problems before, the other 2 programs are pared down?

Actually SS and medicare is part of the overspending... the total dollars spent on these two items continue to rise every year...

The reason that you might think it is not a current problem is they say that we had a surplus in the SS fund and it will be so for many years to come... that does not mean that it is not part of the current problem...


Also, one of the other reasons we are running such a huge deficiet is that revenue has dropped a LOT because the number of people paying taxes has dropped.... if we get everybody back to work the amount of revenue of the gvmt will go up... however, the SS & medicare increases going forward will be more than the new revenue...

Not to say there is not other things that can be cut... but to get to balance RIGHT NOW you would have to cut SS & medicare RIGHT NOW... nobody is suggesting that that I know of....

[donheff]

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Originally Posted by MasterBlaster Before a deal is cut, expect Liberal Democrats (like Nancy P) and conservative Rebublicans to scream bloody murder.

+1 You can feel a deal on the way. Legal pundits are all over the air with the 14th Amendment option and it is clear that in an impasse Obama would have to invoke it. Neither side really wants to go that route. Obama because of possible backlash, GOP the same because they wouldn't get their cuts. And, if we do go that route, we are just back to the standard Government shutdown scenario since we wouldn't have a budget deal. What a mess. August break time is coming up and everybody is getting tired. Time for some sort of grand deal that both sides can rant against in part and claim credit for in part should emerge.

[MasterBlaster]

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Originally Posted by haha Democrats Break With Obama, Oppose Entitlement Cuts In Debt Ceiling Deal

Ha:

What happened to your post ?

Did you delete it because you know in your heart how right I am, and the futility of countering my very valid points ?

[haha]

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Originally Posted by Alan I can't be fussed to click on this link. Are you saying not to worry about SS and Medicare cuts? A quote or comment on a "naked link" would be useful.

A bit hard for me to imagine what you might need beyond that which you quoted, but sorry for the offense.

[Alan]

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Originally Posted by haha A bit hard for me to imagine what you might need beyond that which you quoted, but sorry for the offense.

No offense, I just like to encourage members to follow the ER Community rules.

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Forum members may use standard fonts available on the forum. The standard font size is 2. The use of bold, large or colored fonts should be used sparingly. Posts containing inappropriate formatting will be removed or modified at our discretion; e.g. all caps or excessive color. E-mail addresses, url's and business names are not appropriate forum user names. Please do not post “naked” links, defined as links posted without explanation, interpretation or context.

[Mulligan]

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Originally Posted by Texas Proud Actually SS and medicare is part of the overspending... the total dollars spent on these two items continue to rise every year... The reason that you might think it is not a current problem is they say that we had a surplus in the SS fund and it will be so for many years to come... that does not mean that it is not part of the current problem... Also, one of the other reasons we are running such a huge deficiet is that revenue has dropped a LOT because the number of people paying taxes has dropped.... if we get everybody back to work the amount of revenue of the gvmt will go up... however, the SS & medicare increases going forward will be more than the new revenue... Not to say there is not other things that can be cut... but to get to balance RIGHT NOW you would have to cut SS & medicare RIGHT NOW... nobody is suggesting that that I know of....

Thanks for response Texas, and please give more feedback. But if I understand what I am reading, SS even at this point in time is still bringing in more money than is being sent out in payments, with Medicare on the edge. I realize the 2 trillion in SS reserves owed to the system because the govt "borrowed it" will not be there. So if it is still cash flow positive, shouldn't the short term focus be on whacking other programs that have exploded the last 5-10 years? I assume Medicaid is one that has ballooned but nothing much is mentioned about it. I also realize long term those two will crush us financially. That is very true in what you said about total revenues down from recession, but what I have read the expenditures have exploded more.

[Retch The Grate]

My expectation from before I even went to college was that there would be no SS or Medicare by the time I retired. My plan is to hit retirement assets that support me in the lifestyle I want without either of those, and if they are available as well I'll be living the high life instead of a comfortable one.

[obgyn65]

Having read the posts above, I am going to plan a 25% reduction in my SS benefits. I am turning 46 this year, planning to retire at 47... Many years to go before getting any SS benefit.