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Old 07-20-2015, 05:55 PM   #21
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If that curve comes around like a roller coaster track, it may not take that long. But I think somebody will notice that something is not right and do something about it. Many city pension funds did nothing, and look where they are.
They are sitting pretty from the POV of the retirees, the active employees, and indeed everyone but the taxpayers.

A relatively small group with a lot to gain will always outlast a larger group of taxpayers without the same highly concentrated attention. The only exception is a military coup, and here the army gets control.

It has never happened in the US or Canada, and perhaps it never will.

Ha
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Old 07-20-2015, 07:39 PM   #22
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+1

There is a lot of misinformation about SS out there.

I can remember my grandparents talking about "that man" because they wouldn't say his name even though he'd been dead at that time for a quarter of a century. (I've done ancestry.com, now though, so I call him "Cousin Franklin".) Fifty years ago, they were sure the program was about to "go broke".
My dad was like that. I once had a plastic model of an aircraft carrier on my Christmas list. He looked at the name on the ship, and said "I won't have anything with that man's name on it in my house". It really surprised me as he was normally a very low key person.
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Old 07-20-2015, 07:46 PM   #23
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Umm... Your dad got the wrong man. The aircraft carrier was named after another prez who took pity on a bear.

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My dad was like that. I once had a plastic model of an aircraft carrier on my Christmas list. He looked at the name on the ship, and said "I won't have anything with that man's name on it in my house". It really surprised me as he was normally a very low key person.
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Old 07-20-2015, 07:55 PM   #24
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Umm... Your dad got the wrong man. The aircraft carrier was named after another prez who took pity on a bear.
I was a kid in the 1950s, not the 1980s, so I think he was right:

https://en.wikipedia.org/wiki/USS_Fr...osevelt_(CV-42)
https://en.wikipedia.org/wiki/USS_Th...sevelt_(CVN-71)
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Old 07-20-2015, 08:05 PM   #25
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Apology. I missed that you said it was on your Christmas list.

So, I now learn that CV-42 was decommissioned in 1977, while CVN-71, a Nimitz class, which I was thinking of, was launched in 1984.
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Old 07-21-2015, 08:51 AM   #26
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It really surprised me as he was normally a very low key person.
Yeah, but nothing like politics to get panties wadded...
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Old 07-24-2015, 04:44 AM   #27
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I think the U.S has enough problems to solve that are here today, without worrying about something that May Happen 20-30 years down the road.
Perhaps a lot of the folks who harp on the future fiscal soundness of SS, use that as a facade, to express their dislike of paying FICA taxes and the government giving out checks to people. I think they don't like the program, wish it would go away, and taking the "running out of money" position is a convenient way of hiding their true feelings and intent.
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Old 07-24-2015, 10:51 AM   #28
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You may be right, but I long ago gave up on trying to read minds.
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Old 07-24-2015, 04:10 PM   #29
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The following excerpt comes from SSA.gov Web site.
The combined asset reserves of the Old-Age and Survivors Insurance, and Disability Insurance (OASDI) Trust Funds are projected to become depleted in 2034, one year later than projected last year, with 79 percent of benefits payable at that time. The DI Trust Fund will become depleted in 2016, unchanged from last year’s estimate, with 81 percent of benefits still payable.
Most of us do not have to worry about the DI Fund, only the OASDI. We still have 19 years for Congress to do something. And even if they don't do anything, we still get 79% of benefit. People with the LBYM attitude are not going to have to relocate to under a bridge with a 21% cut, I don't think.

So, in the mean time, let's just party. Many of us will not be around in 19 years anyway, despite the popular wish of living till 105.
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Old 07-24-2015, 04:23 PM   #30
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Perhaps a lot of the folks who harp on the future fiscal soundness of SS, use that as a facade, to express their dislike of paying FICA taxes and the government giving out checks to people. I think they don't like the program, wish it would go away, and taking the "running out of money" position is a convenient way of hiding their true feelings and intent.
Well that statement certainly does not apply to folks that are receiving and/or will receive SS benefits in the next several years
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