Obama ‘cannot guarantee’ benefits checks will be paid if debt deal isn’t reached

[Biggsly]

By the way, it wasn't long ago that Obama said the Social Security Fund was Solvent didn't he?

Obama says whatever he has to, to get what he wants. Its not like the media is going to call him out.

 

[dennishoddy]

From what I understand there has not been any gold at Fort Knox in decades! A little scary isn't it? From the little knowlege that I have about economics, there has to be liquid assets, such as gold, to back up every dollar that we print or it leads to inflation.

I believe that S.S. is a big ponzi/pyramid scheme. Why not just let us keep more of our own money, instead of paying social security, and invest it how we see fit?

Truth is that I've paid into SS since 1967, I just want my money back.
If you want to donate yours, go ahead.
Another fact is that 99.9% of the people would not invest the extra money into anything, if it did go into a voluntary system, leaving the taxpayers to support the people that did invest and loose it all, and those that chose to not invest but buy "things". When the money runs out, guess who pays..

The tax payer.
The gubberment is not going to let people starve in the streets because they abolished SS, just raise taxes again for the working class to support the newest class of poor/unfortunate that don't have SS. Creating yet another step into a socialist society that has failed in every other country in the world that has tried it.
Can anybody name one country that has flourished with a socialist society???
Come on! Just one? Don't even think china either. Thats a different thread.
Some have survived, but none have thrived.

If the gubberment had lived up to the original promise of paying $1 for every $1 in the original SS law, we wouldn't have the SS crisis we have now.
Plus the crisis has been made worse by the congress of the U.S. tapping into the SS fund to pay for bull crap pork projects.

Y'all need to wake up and think about what the congress of both parties are doing to your parents, grandparents, and eventually you.

Robbing and raping the SS fund will only rusult in higher taxes in the long run, in attempts to supplement the fund and keep it afloat.

Trust me, SS is not going away, higher taxes by both parties to garner votes will hit you all right square between the eyes.

With the current "fix" of raising the age to 67 or what ever it it, only contributes to keeping the books afloat just a little longer. Next time there is a "crisis" the age will be 80, then 90. But you young'uns will think that doesn't apply to me because I'll be rich when I'm ready to retire, but the lack of knowledge of economics will come back to bite you in the backside.

When does it stop? It stops when we force the congress to live with SS for their retirement, instead of their cushy program that they vote for themselves, vote in term limits, and hold the congress accountable for their actions by voting them out.

Sadly we are a one issue voting population, that focuses on issues that pertain to ME on election day. The country has lost the ability to vote for the FUTURE of this great country.
Carry on.

 

[beast1989]

From what I understand there has not been any gold at Fort Knox in decades! A little scary isn't it? From the little knowlege that I have about economics, there has to be liquid assets, such as gold, to back up every dollar that we print or it leads to inflation.

I believe that S.S. is a big ponzi/pyramid scheme. Why not just let us keep more of our own money, instead of paying social security, and invest it how we see fit?

Umm bc people dont. Saving/investing may be common sense to you and me but i deal with finances daily for a big bank and sad to say many people just dont get it. Many people rely on SS to survive and thats not good on many levels.

If you let those people invest more of their money how they see fit during their working lives its probably going to get spent not invested. America cant let the old people starve can they? They will spend it (their $) and end up looking at the Unc for "assistance" any way.

 

[beast1989]

Im starting to think politicians are worse than terrorists, seriously.

 

[Glocktogo]

Im starting to think politicians are worse than terrorists, seriously.

They can destroy this country much more easily and completely than a hand full of terrorists!

 

[steelhorse]

Umm bc people dont. Saving/investing may be common sense to you and me but i deal with finances daily for a big bank and sad to say many people just dont get it. Many people rely on SS to survive and thats not good on many levels.

If you let those people invest more of their money how they see fit during their working lives its probably going to get spent not invested. America cant let the old people starve can they? They will spend it (their $) and end up looking at the Unc for "assistance" any way.

You're absolutely right! Most of us have been paying into SS all of our lives. It is a shame that we have become a Nation that relies so much on the government to look out for out best interests and save us from ourselves. I just don't count on SS being around when I retire in 25-30yrs. I make many other alternate investments(not only Wall Street) in hopes that I may retire a little earlier and live a decent lifestyle.

I know that it would be a bad idea about doing away with SS and letting people invest how they see fit. There are too many irresponsible people that would not put back for their future.
I was just curious how people would respond to that statement.

 

[Vamoose]

They can destroy this country much more easily and completely than a hand full of terrorists!

They're doing their best. And they cause more fear, Re the title of this thread.

 

[Perplexed]

You're absolutely right! Most of us have been paying into SS all of our lives. It is a shame that we have become a Nation that relies so much on the government to look out for out best interests and save us from ourselves. I just don't count on SS being around when I retire in 25-30yrs. I make many other alternate investments(not only Wall Street) in hopes that I may retire a little earlier and live a decent lifestyle.

I know that it would be a bad idea about doing away with SS and letting people invest how they see fit. There are too many irresponsible people that would not put back for their future.
I was just curious how people would respond to that statement.

This is what I do also, but it's surprising how prevalent the thinking has been that SS will be a significant factor in the retirement "plans" of Americans. I even got a little look of surprise from my financial adviser when I told him years ago I wanted to plan my retirement without SS playing any part at all. He told me that while he suggests that to his clients, few of them do so.

 

[BadgeBunny]

Truth is that I've paid into SS since 1967, I just want my money back.
If you want to donate yours, go ahead.Another fact is that 99.9% of the people would not invest the extra money into anything, if it did go into a voluntary system, leaving the taxpayers to support the people that did invest and loose it all, and those that chose to not invest but buy "things". When the money runs out, guess who pays..

The tax payer.
The gubberment is not going to let people starve in the streets because they abolished SS, just raise taxes again for the working class to support the newest class of poor/unfortunate that don't have SS. Creating yet another step into a socialist society that has failed in every other country in the world that has tried it.
Can anybody name one country that has flourished with a socialist society???
Come on! Just one? Don't even think china either. Thats a different thread.
Some have survived, but none have thrived.

If the gubberment had lived up to the original promise of paying $1 for every $1 in the original SS law, we wouldn't have the SS crisis we have now.
Plus the crisis has been made worse by the congress of the U.S. tapping into the SS fund to pay for bull crap pork projects.

Y'all need to wake up and think about what the congress of both parties are doing to your parents, grandparents, and eventually you.

Robbing and raping the SS fund will only rusult in higher taxes in the long run, in attempts to supplement the fund and keep it afloat.

Trust me, SS is not going away, higher taxes by both parties to garner votes will hit you all right square between the eyes.

With the current "fix" of raising the age to 67 or what ever it it, only contributes to keeping the books afloat just a little longer. Next time there is a "crisis" the age will be 80, then 90. But you young'uns will think that doesn't apply to me because I'll be rich when I'm ready to retire, but the lack of knowledge of economics will come back to bite you in the backside.

When does it stop? It stops when we force the congress to live with SS for their retirement, instead of their cushy program that they vote for themselves, vote in term limits, and hold the congress accountable for their actions by voting them out.

Sadly we are a one issue voting population, that focuses on issues that pertain to ME on election day. The country has lost the ability to vote for the FUTURE of this great country.
Carry on.

No kidding ... to your whole post but especially the bolded part. Well, except I started paying in 1973 ...

 

[Biggsly]

If I would have taken all the money that has been taken from me and put into SS and put it in a good mutual fund, I would get alot more when I retire. I would like to get back the money I put in. I am not asking for anymore. Now that we have left the Gov in charge of our retirement, they can use it against and treaten us with taking it away. One minute Obama is telling us that SS is safe, while the libs tell us how stupid we are for thinking its not. The next minute Obama is telling us how we are going to lose it, and the same libs are telling us how stupid we are for not giving Obama what he wants. The media has not said a word about Obama's flip flopping.
I keep asking a simple question . How do we reduce our debt, by rasing the debt limit? Maybe I just don't get it.