Risk of excessive gov debt/obligations

[nash031]

That crowd is a fair weather crowd though, and if we get into a situation where SS is cancelled and old people are starving in the street, I imagine the "Keep Your Promise" crowd will grow quite thin.

I don't know enough to comment for certain, but defense appropriations are a wholly separate budget line item, and I'd think it'd be difficult to cross those streams from defense to social security without some other major administrative or budgetary action (i.e. a vote). I think the chances of the military pension system becoming unfunded are along the Sharknado lines.

 

[Fermion]

From SSA.gov things really don't look too bad:

"As a result of changes to Social Security enacted in 1983, benefits are now expected to be payable in full on a timely basis until 2037, when the trust fund reserves are projected to become exhausted.1 At the point where the reserves are used up, continuing taxes are expected to be enough to pay 76 percent of scheduled benefits. Thus, the Congress will need to make changes to the scheduled benefits and revenue sources for the program in the future. The Social Security Board of Trustees project that changes equivalent to an immediate reduction in benefits of about 13 percent, or an immediate increase in the combined payroll tax rate from 12.4 percent to 14.4 percent, or some combination of these changes, would be sufficient to allow full payment of the scheduled benefits for the next 75 years."

 

[king smoothie]

Ah, but part of the social security tax solution is to increase the tax. Although it wouldn't effect retirement income. The overall trend is government growth and increased spending. And realize if the social security surplus isn't available to be spent (in the form of the government borrowing from itself, smoke and mirrors) then that revenue will need to be made up from somewhere. I'd just like to see a path that doesn't require an unrealistic plan for economic growth or increased taxes. This doesn't keep me up at night, and certainly won't impact my retirement date.

 

[king smoothie]

Like me on Oahu, if you're planning to spend the rest of your life on Guam then you'll need the shotgun ammunition and MREs for a CAT 5 hurricane before you'll need them for a military pension crisis.

This is Guam, so instead of MRE's it is Spam and rice (and the necessary water). We don't plan on staying that long.

 

[MasterBlaster]

Social Security is the easy fix.


What's your easy fix for Medicare/Medicaid ?

 

[Gone4Good]

What's your easy fix for Medicare/Medicaid ?

Start telling people "no"

Or, more precisely, "Sure you can have that procedure/medication, as long as you pay for it yourself."

And to doctors/hospitals, "sure we'll pay for that procedure/medication, but not at the price you've been charging."

 

[MichaelB]

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