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Will Social Security be around for you? Why or why not? What is the problem? Will the problem last?

  • Will Social Security be around for you? Why or why not? What is the problem? Will the problem last? How can it be fixed? Will Socail Security go away! What are the political implications!

  • Answer:

    The Social Security Trust has $2.5 Trillion worth of Bonds in it right now. That is "Borrowed" Money that will have to be paid back. Now, if each month, we "buy" more bonds to get the Cash to pay out that months checks, can this be sustained? Also, this "Tax Holiday" is Eliminating $100 Billion worth of DEPOSITS be added to the Trust in order to put $40 in peoples pockets now. Does this seem like a sound policy and Ensure that SS will be around in 20 years? Why aren't we just "lowering" income taxes on people to give them the Much Needed $40? And not reduce our chances of having a Safety Net for future Retirements? No, it is not a Rational Decision by our Representatives. It is a Political Decision, not a Sound Fiscal Decision intended for our Mutual Benefit. Short, 1 Minute 30 second video on the future of SS Trust Fund if you are interested. Thanks for showing genuine concern and not just repeating Rhetoric.

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No. The problem is that it's been raided since LBJ opened the door on borrowing, and it's a Ponzi scheme so it will keep increasing in cost until it runs out of other people's money. Blame the Party that kept adding eligibility with no responsibility. Same ones who want someone else to pay it all back (those who already pay way more than they will ever see in benefits).

Stereotypemebecauseyouknow

I will most likely not see Social Security around when I'm 65. I'm still very young so I plan on investing early so that I can be safe when I reach that age. Social Security needs to be reformed because it is costing this country billions of dollars. I honestly want to see it go because people think it's their right to have it. It is really scary how dependent people are getting in this country. It needs to go.

Greg

It can only be fixed by putting back all the money that Congress has robbed from the fund. And to put it back will increase Federal Taxes, and Social Security/Medicare Taxes. Soc Sec is currently projected to go bankrupt in 2040.

ET

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