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SS Trust Fund to run dry sooner than anticipated
04-24-2012, 05:24 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
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SS Trust Fund to run dry sooner than anticipated
Social Security’s financial forecast gets darker; Medicare’s outlook unchanged - The Washington Post
The budget outlook for Social Security is getting dimmer, the US government said, with its primary trust fund now projected to run dry three years sooner than anticipated...
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Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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04-24-2012, 05:41 AM
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#2
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Thinks s/he gets paid by the post
Join Date: May 2011
Location: South Eastern USA
Posts: 1,068
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This is not surprising given the reduced FICA contribution that employees have last year and this. Even with the increase in medicare tax in 2014 as part of the affordable care act, Medicare is underfunded/overspent.
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04-24-2012, 08:48 AM
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#3
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Recycles dryer sheets
Join Date: Apr 2012
Location: Oswego
Posts: 76
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Im shocked really I am 
Steel
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04-24-2012, 09:17 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 4,391
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 Quote:
Originally Posted by gsparks2
This is not surprising given the reduced FICA contribution that employees have last year and this. Even with the increase in medicare tax in 2014 as part of the affordable care act, Medicare is underfunded/overspent.
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In theory the reduced FICA amount was made up by the general fund. That should have no direct effect on SS solvency.
The accelerated solvency problems are driven by out-of-work people retiring to SS earlier than usual and more people out of work not contributing payroll taxes.
Another, under the radar cause is people out of work getting themselves declared "disabled" and going on permanent SS disability. This is the fastest growing part of the SS budget.
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04-24-2012, 10:27 AM
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#5
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Recycles dryer sheets
Join Date: Jun 2011
Posts: 185
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Every day I see healthy appearing person "scamming" the disability system. 40 yr olds with normal spines claiming back pain. Don't know just how pervasive this is (ie, don't have hard data on this), but it would appear that the nation of "food stamps" is also a nation of "I can't work, give me a monthly check" for my fibromyalgia". Please refrain from hate-mail, I know there are plenty of people who justifiably need SSDI, but those who don't are robbing the social security system (read: stealing from seniors).
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This is no social crisis, just another tricky day for you...
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04-24-2012, 10:36 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,698
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Scams like this should also push insolvency along.
My neighbor was an airline pilot and left his wife for a very young stewardess. They made some babies and then he retired. So now we pay him, his kids and don't forget the young wife SS bennies. This makes sense, no?
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Work is something you do to get enough $ so you don't have to....Me.
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04-24-2012, 10:41 AM
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#7
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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Quote:
Originally Posted by BigE
Please refrain from hate-mail, I know there are plenty of people who justifiably need SSDI, but those who don't are robbing the social security system (read: stealing from seniors).
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To the extent this is perceived as "theft" it's not from seniors -- at least not today's seniors. To the extent this jeopardizes the solvency of the program, the burden will be carried by future generations of retirees who are today's workers.
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"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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04-24-2012, 10:43 AM
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#8
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
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From all accounts, it is reeeealy hard to get SSDI. Personally, I think there are other places where the gummint throws money away.
__________________
I have outlived most of the people I don't like and I am working on the rest.
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04-24-2012, 10:44 AM
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#9
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Recycles dryer sheets
Join Date: Apr 2012
Location: Oswego
Posts: 76
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Quote:
Originally Posted by ziggy29
To the extent this is perceived as "theft" it's not from seniors -- at least not today's seniors. To the extent this jeopardizes the solvency of the program, the burden will be carried by future generations of retirees who are today's workers.
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Interestingly, there was an article in the WSJ, last week I think about this very topic. Apparently, the growth in the SSI disability program is vastly larger than the population as a whole. Dont remember the exact statistics but it does not surprise me in the least. I know serveral unempoyed folks who are turning down jobs to run the 99 weels dry. So, not surprising in the least.
Steel
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04-24-2012, 10:46 AM
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#10
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Recycles dryer sheets
Join Date: Apr 2012
Location: Oswego
Posts: 76
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Quote:
Originally Posted by Ed_The_Gypsy
From all accounts, it is reeeealy hard to get SSDI. Personally, I think there are other places where the gummint throws money away.
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No personal experience but when i see lawyers advertising on TV about how they can help this along, i know its a gold mine for them.
Steel
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04-24-2012, 10:51 AM
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#11
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Quote:
Originally Posted by Steel Rain
No personal experience but when i see lawyers advertising on TV about how they can help this along, i know its a gold mine for them.
Steel
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The lawyers don't need to be successful for their clients in order to be raking it in.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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04-24-2012, 11:00 AM
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#12
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Recycles dryer sheets
Join Date: Jun 2011
Posts: 185
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I am continually shocked at how people are not aware of what goes on in the world around them. There is solid evidence on a daily basis of these scams, yet not only do we tolerate them, we pretend they are not real or downplay the magnitued. I just interpreted two disability xrays (chest and lumbar spine) in a 39 y.o female with an umbilical ring and they are both NORMAL. And guess who is paying for the xrays?
So yeah, I guess I must be imagining this stuff.
__________________
This is no social crisis, just another tricky day for you...
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04-24-2012, 11:23 AM
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#13
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Recycles dryer sheets
Join Date: Apr 2012
Location: Oswego
Posts: 76
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Quote:
Originally Posted by brewer12345
The lawyers don't need to be successful for their clients in order to be raking it in.
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Not sure this is true, most of these "Ambulance Chasers" for lack of a better word, work on contingency. Someone who wants SSI, especailly if its marginal, probably does not have the means to pay hourly. I could be wrong though.
Steel
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04-24-2012, 11:33 AM
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#14
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Thinks s/he gets paid by the post
Join Date: Jan 2004
Posts: 2,049
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Quote:
Originally Posted by BigE
There is solid evidence on a daily basis of these scams, yet not only do we tolerate them, we pretend they are not real or downplay the magnitued.
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Well, present the solid evidence.
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04-24-2012, 11:45 AM
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#15
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Quote:
Originally Posted by Steel Rain
Not sure this is true, most of these "Ambulance Chasers" for lack of a better word, work on contingency. Someone who wants SSI, especailly if its marginal, probably does not have the means to pay hourly. I could be wrong though.
Steel
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Please, enlighten us with data.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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04-24-2012, 11:49 AM
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#16
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Recycles dryer sheets
Join Date: Jun 2011
Posts: 185
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Solid is perhaps not the best word choice. For me personally, I try to watch the sources of info and the way things are presented as best I can to account for bias and spin. It was just too weird that after my first post, I encountered a healthy 39 year old seeking SSDI. This, IMHO seems like very real, tangible evidence supporting the above referenced Wall Street Journal article and the ongoing observations around me. This is just my opinion (which directly relates to the topic of SS solvency); if I was a disability lawyer or scammer, I'm sure I would see things differently.
__________________
This is no social crisis, just another tricky day for you...
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04-24-2012, 11:54 AM
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#17
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Recycles dryer sheets
Join Date: Apr 2012
Location: Oswego
Posts: 76
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Quote:
Originally Posted by brewer12345
Please, enlighten us with data.
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No data, but i believe its true. I dont see how a lawyer, especially from a firm that has a televising budget is going to make money hourly. My only experience is from the our real estate lawyer, and she charges 140/hr and its painful. I make a good living, but there is not way i could pay a lawyer hourly if that rate is anywhere near the norm. My money is on contingency
Steel
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04-24-2012, 11:57 AM
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#18
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Quote:
Originally Posted by Steel Rain
No data, but i believe its true.
Steel
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How wonderful for you. You must be very proud.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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04-24-2012, 12:07 PM
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#19
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: Miraflores,Peru
Posts: 1,992
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Quote:
Originally Posted by 73ss454
Scams like this should also push insolvency along.
My neighbor was an airline pilot and left his wife for a very young stewardess. They made some babies and then he retired. So now we pay him, his kids and don't forget the young wife SS bennies. This makes sense, no?
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Sound's like a good gig, especially if they all get travel benefits as well.
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04-24-2012, 12:26 PM
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#20
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,698
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Quote:
Originally Posted by NYEXPAT
Sound's like a good gig, especially if they all get travel benefits as well.
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Don't forget his pension also. 
__________________
Work is something you do to get enough $ so you don't have to....Me.
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