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Thread: The Social Security Fiscal Black Hole Has Arrived

  1. #11
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    Quote Originally Posted by jmthomas View Post
    Go ahead and gloat now. At some point it will end, and probably end badly for people like you.

    The 49% of us that are still working will reach the point where we say "no more", then the gravy train stops.
    I will in the ground before that happens as I am 70 now with severe RA So I would not think I will be alive much more then 20 more years, and it won; not be ending in my lifetime. And being on Disability so many things are in place to protect us and laws put in place to keep people like myself still getting benefits. I am on Medicare plans Medicaid from the State of WI.

  2. #12
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    That Time a Guy Tried to Build a Utopia for Mice and it all Went to Hell
    In 1968, an expert on animal behaviour and population control called John B. Calhoun built what was essentially a utopia for mice that was purpose built to satisfy their every need. Despite going out of his way to ensure the inhabitants of his perfect mouse society never wanted for anything, within 2 years virtually the entire population was dead. So what happened?



    https://www.youtube.com/watch?v=5m7X-1V9nOs
    They swore, if we gave them our weapons, that the wars of the tribes would cease.
    "You think a wall as solid as the earth separates civilisation from barbarism. I tell you the division is a sheet of glass."
    John Buchan, 1st Baron Tweedsmuir of Enfield (1875-1940): Author and Diplomat

  3. #13
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    Quote Originally Posted by Lenno View Post


    That Time a Guy Tried to Build a Utopia for Mice and it all Went to Hell
    In 1968, an expert on animal behaviour and population control called John B. Calhoun built what was essentially a utopia for mice that was purpose built to satisfy their every need. Despite going out of his way to ensure the inhabitants of his perfect mouse society never wanted for anything, within 2 years virtually the entire population was dead. So what happened?



    https://www.youtube.com/watch?v=5m7X-1V9nOs



    Great build-up!

    But then you sent us to a youtube video ?!

    What about those like me who can't view video on line ??


    Btw... your post reminds me of this scene from the Matrix movie.

    Have you ever stood and stared at it, marveled at its beauty, its genius? Billions of people just living out their lives, oblivious. Did you know that the first Matrix was designed to be a perfect human world, where none suffered, where everyone would be happy? It was a disaster. No one would accept the program, entire crops were lost. Some believed we lacked the programming language to describe your perfect world, but I believe that, as a species, human beings define their reality through misery and suffering. The perfect world was a dream that your primitive cerebrum kept trying to wake up from. Which is why the Matrix was redesigned to this, the peak of your civilization. I say your civilization, because as soon as we started thinking for you it really became our civilization, which is of course what this is all about.


  4. #14
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    Quote Originally Posted by Hoppalong View Post
    I will in the ground before that happens as I am 70 now with severe RA So I would not think I will be alive much more then 20 more years, and it won; not be ending in my lifetime. And being on Disability so many things are in place to protect us and laws put in place to keep people like myself still getting benefits. I am on Medicare plans Medicaid from the State of WI.
    All the rules and regs mean nothing if the money stops.

    So blatant extortion of the next generation to pay for the previous is OK in your book, as long as you are the one getting the bennies?
    "Stand your ground. Don't fire unless fired upon, but if they mean to have a war let it begin here." Captain John Parker, to his Minute Men on Lexington Green, April 19 , 1775.

  5. #15
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    Quote Originally Posted by jmthomas View Post

    So blatant extortion of the next generation to pay for the previous is OK in your book, as long as you are the one getting the bennies?


    Baby Boomers paid for their parents' Social Security


  6. #16
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    Quote Originally Posted by KingsX View Post



    Baby Boomers paid for their parents' Social Security




    Millennials ["Echo Boomers"] shouldn't be wishing hard times on their Baby Boomer parents.


    More millennials are living at home
    than at any other time this century



    May 10, 2019


    * More millennials are living at home than at any other point this century, according to Zillow.

    * The number of adults aged 23 to 37 staying or returning home to their parents has been steadily rising since 2000.

    * Experts say the unaffordable housing market is keeping millennials at home, rather than a failure by millennials to hold jobs or launch careers.


    Thanks to student loan debt, rising rents and stagnant wages, more millennials are living at home with their parents than at any other point this century. More than one in five adults, or 22 percent of millennial Americans, are either staying home or returning to childhood bedrooms, according to Zillow.

    That number has been increasing steadily for the past two decades, and it's nearly doubled to about 22 percent of people ages 23 to 37 now living with their folks from 11.7 percent of people the same ages back in 2001. While it's easy to point fingers at the "boomerang" generation, experts say the reasons behind returning home for adults in this generation are due to more than a failure to "adult."

    More millennials hold jobs than they did directly in the aftermath of the financial crisis, indicating that millennials are struggling to afford homes even as the economy recovers. Student loan debt has risen, housing costs have skyrocketed, and wages have stagnated — though the last is recently showing some signs of relief. "

    While the housing market is growing more moderately than it has in the past, homes are still unaffordable in more than 70 percent of America when comparing median home prices to median income across counties nationwide, according to a recent ATTOM Data Solutions report. Nationwide, median rent rose 2.4 percent to reach $1,472 in February, according to Zillow. Median home prices in the nation rose 7.2 percent in February to $226,300.

    All of this is compounding anxiety for millennials who, as they get older, grow wary that they are relying too much on their parents and are falling behind their peers. More than half of younger millennials say they can't keep up their lifestyles without help from their parents, according to a report from Merrill Lynch.

    It's also why 75 percent of early adults are defining success as financial independence from their parents, as opposed to building wealth and accruing assets for themselves.

    Living at home with mom and dad also comes with its perks: Millennials who want to save enough for a down payment on a home can afford to nearly three years sooner if they stay at home, Zillow's apartment search platform HotPads found.

    The Zillow report that a small number of millennials — less than 2 percent — are also housing parents in their own homes, either to take care of them or as live-in child care for their own children.

    Among metros with the largest share of millennials living at home: Los Angeles, Miami, New York City and Riverside, California. At least 31 percent of millennials live with their parents in those metros, all of which are among the least affordable rental markets in the country.

    For example, more than three out of 10 millennials live at home with their parents in Los Angeles, where median rent prices eat up over 45 percent of median income.

    Conversely, millennials are least likely to live with their parents in cities like Seattle, Austin, Portland, Kansas City and Denver. However, because those cities are also expensive rental markets, millennials are likely not living with parents because their families are too far away.


    https://www.cbsnews.com/news/more-mi...-this-century/


  7. #17
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    Quote Originally Posted by Lenno View Post
    That Time a Guy Tried to Build a Utopia for Mice and it all Went to Hell
    In 1968, an expert on animal behaviour and population control called John B. Calhoun built what was essentially a utopia for mice that was purpose built to satisfy their every need. Despite going out of his way to ensure the inhabitants of his perfect mouse society never wanted for anything, within 2 years virtually the entire population was dead. So what happened?



    https://www.youtube.com/watch?v=5m7X-1V9nOs
    The Calhoun Rat-Farm experiment! I remember that from school in 1976.

  8. #18
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    Quote Originally Posted by Hoppalong View Post
    Sure glad I went on SS at the age of 54 because of severe RA. And the way the figure SS when doing it at a early age is I got what I WOULD have gotten if I would have worked till 62. Now that I am over 65 the money I get is from the general fund not from the insurance side of SS. And at now over $1200 a month I can afford a new TV which I did get this Christmas LOL.
    And I also am glad I will collect more then I ever paid in. Way To Go Government, and the rest of those that still pay in~!
    How can SS or any other system continually pay out more than it takes in? You fail the basic math and logic tests big time.

  9. #19
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    Quote Originally Posted by moestooge View Post
    How can SS or any other system continually pay out more than it takes in? You fail the basic math and logic tests big time.
    Maybe if THE TRUTH was told about SS it would NOT be a doom and gloom story ti fill the bellies of those that can't get enough to satisfy there insanity of doom and gloom being told all over the net these days.




    As a reminder, 63 million Americans are currently receiving a Social Security benefit check each month, with 90% of working Americans aged 21 to 64 covered in the event of a long-term disability and 96% of adults aged 20 to 49 with young children and/or a surviving spouse covered by survivors insurance.
    Where exactly does Bernie Sanders stand on Social Security? Let's take a closer look.
    1. Sanders doesn't believe Social Security is going bankrupt

    To begin with, Sanders' opposes the notion that Social Security is going bankrupt -- and he's 100% correct. One of the longest-running myths about the Social Security program is that demographic changes, and the eventual depletion of its $2.9 trillion in asset reserve if Congress fails to act, would cause Social Security's insolvency. But this isn't the case.
    The reality is that Social Security will continue to generate healthy amounts of revenue from its 12.4% payroll tax on earned income and from the taxation of Social Security benefits for recipients and couples receiving payouts who earn over a select income threshold. While the revenue generated may not be enough to support the existing payout schedule over, say, the next 75 years, this doesn't mean insolvency. It could lead to a reduction in benefits for future generations of retirees, but certainly not the bankruptcy of Social Security.

  10. #20
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    Quote Originally Posted by Bezukhov View Post
    This "Trust Fund" was insolvent from its very inception. It is a pile of government bonds, right? So two questions:

    One, from what group of people does the Social Security Trust Fund get the money to buy those Government bonds?

    Two, since we're talking about Government bonds, who ultimately is responsible for paying them off?
    I don't think you get it. The bankruptcy date is AFter we have paid all those who bonds off!!! ss is a ponzi scheme that has screwed my generation.

    I knew this 30 years ago when I was 10. I knew there would be no social security for me in middle school. what's your excuse?

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