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bijou
08-08-2010, 12:06 PM
WASHINGTON - The recession and droves of retiring baby boomers will force Social Security to pay out more than it takes in for this year for the first time ever.

The tipping point has come six years sooner than was projected in 2009, Treasury Secretary Tim Geithner said Thursday, as he released annual trustees' reports on the fiscal health of Social Security and Medicare.

Geithner said Medicare's financal outlook has dramatically improved since the passage of health care reform earlier this year.

Medicare will remain in the black until 2029 under its current structure, mainly because of cost cutting-measures included in the health care legislation, the trustees reported. The program serves 46 million retirees and people with disabilities.

Read more: http://www.nydailynews.com/news/politics/2010/08/06/2010-08-06_soc_sec_pay_now_goin_the_wrong_way.html#ixzz0w1 zFVvS5

Rockntractor
08-08-2010, 12:23 PM
Yes but the surplus has been sitting in a huge state of the art locked box at Fort Knox gaining interest for over 60 years!:confused:

warpig
08-08-2010, 12:36 PM
WASHINGTON - Geithner said Medicare's financal outlook has dramatically improved since the passage of health care reform earlier this year.

Medicare will remain in the black until 2029 under its current structure, mainly because of cost cutting-measures included in the health care legislation, the trustees reported. The program serves 46 million retirees and people with disabilities.

Read more: http://www.nydailynews.com/news/politics/2010/08/06/2010-08-06_soc_sec_pay_now_goin_the_wrong_way.html#ixzz0w1 zFVvS5

yet how good will those services be..................:confused:

lacarnut
08-08-2010, 12:47 PM
Yes but the surplus has been sitting in a huge state of the art locked box at Fort Knox gaining interest for over 60 years!:confused:

Yep, they are just trying to fool us.:rolleyes:

Wonder why Medicaid was not part of that report. The states are going to get whacked for additional medical care for 12 million illegals when Obama care kicks in. The states pay a major portion and the Feds pay the remainder. States do not have the revenues to shoulder this added expense. That is why many state Governors hate Obama care.

DU+NU_Reject
08-11-2010, 05:45 AM
yet how good will those services be..................:confused:

The social welfare 'bubble' has finally burst.

At NU, we had a Missouri conservative who had been predicting the downfall of 'welfare-related' (socialistic) Federal government expenses for some time now. I can't honestly say I'm surprised, but I wonder how people are so easily lied to with regards to believing that big (often kleptocratic) 'Daddy gov't' is somehow good for the nation- or even for the elders it supposedly was so good at subsidizing a few decades back.

Hmmm... there is one plus side to this, which is that once the public debt starts eating away at money the Gov't would normally spend on essential things like law-enforcement and military, we (John/Jane Q tax-paying public) would be inevitably forced to look at something neither party has practiced in a LONG time -fiscally responsible gov't.

Satanicus
08-11-2010, 06:43 AM
If the GOP wasn't taking hundreds of billions from the fund there might be money there.

djones520
08-11-2010, 07:10 AM
If the GOP wasn't taking hundreds of billions from the fund there might be money there.

If the Democrats hadn't stonewalled effrots for SS Reform, I might actually have some of the money I've been paying into it when I come of age.

Constitutionally Speaking
08-11-2010, 07:15 AM
If the GOP wasn't taking hundreds of billions from the fund there might be money there.


Satanicus, Why CAN government take it in the first place????? If we had PRIVATE accounts the government COULDN"T TOUCH IT.

lacarnut
08-11-2010, 11:31 AM
If the GOP wasn't taking hundreds of billions from the fund there might be money there.

If more lazy worthless bums like you joined the work force, there would be money in there.

It was LBJ who diverted money from the fund to the general fund for his great society programs.
Stupiicus is a moron.

Zathras
08-11-2010, 11:39 AM
http://chzderp.files.wordpress.com/2010/07/ba1722a8-6af4-4396-bb73-9fcb104949d0.jpg

Fixed again