As USA Today reported Monday, Social Security's annual surplus "nearly evaporated" for the first time in a quarter-century last year. The program is poised to be in the red for the next two years; between 2008 and 2009, it saw a revenue decline of $60 billion.
Meanwhile, with the retirement of many in the "Baby Boom" generation imminent, regular annual losses are expected beginning in 2016.
Are government entitlement programs really the best solution?
Asked by Anonymous at 10:12 AM on Feb. 9, 2010 in Politics & Current Events
Answer by Ibelongtojesus at 10:15 AM on Feb. 9, 2010
Answer by NotPanicking at 10:17 AM on Feb. 9, 2010
Answer by Anonymous at 10:17 AM on Feb. 9, 2010
I found a new insert in my Social Security benefits summary that I just received last week. It states, in part, "...The Social Security Board of Trustees now estimates that based on current law, in 2037, the Trust Funds will be depleted. Because people are living longer and the birth rate is low, the ratio of workers to beneficiaries is falling..." Emphasis mine.
It seems that if want to stimulate our economy and have enough SS to go around when we are older, we should allow our unborn children to live. Babies cost $$$ and will grow up to make $$$ and contribute $$$$ to Social Security and Medicare.
Answer by flatlanderjenn at 10:26 AM on Feb. 9, 2010
Answer by Anonymous at 10:29 AM on Feb. 9, 2010
It would have been nice had that money not been allocated to things that weren't for social security. This is what government does best. They take, take and take and when it's time to give back they think of ways to lessen their responsibility to the people. But that's cool, let's keep making excuses for them and approving of their horrid spending habits.
Answer by QuinnMae at 10:33 AM on Feb. 9, 2010
Answer by jewjewbee at 10:54 AM on Feb. 9, 2010
Doesn't surprise me. All I can say that there are lots of baby boomers out there that will be in trouble and so will their kids because guess who's going to have to help. That's right their kids have to step up to the plate and help. At the moment lots of boomers are having to help their own parents which depletes their own funds. Talk about sandwich years for them having to help their own kids and then their parents as well.
People of this generation(s) better start making some wise financial decisions because their parents wont be able to help.
Answer by Anonymous at 10:54 AM on Feb. 9, 2010
Answer by jewjewbee at 10:57 AM on Feb. 9, 2010
Answer by Sisteract at 11:18 AM on Feb. 9, 2010