Cruz I’m ‘Emphatic’ Balanced Budget Supporter, Want Means Tested Social Security

[Lando Lincoln]

Young people work to help support the elderly in exchange for the same when they are elderly.

It can not be sustained as currently configured.  Check out:  http://www.ssa.gov/history/ratios.html

[Dexter]

It can not be sustained as currently configured.  Check out:  http://www.ssa.gov/history/ratios.html

I'm confident that we can find a way to reconfigure it and make sure our elderly are cared for.

[Luis Gonzalez]

I'm only 26 and I am willing to work hard to support older people on social security. Lots of young people feel the same, and I suspect they will still feel the same when I am the elderly one. Sorry everybody, but I completely disagree with getting rid of social security. It helps a lot of people, and there are other huge spending cuts we could be making instead.

No s#it.

[Lando Lincoln]

I am with those who say refund what I have paid in (with some reasonable adjustments) and I'll take care of the rest.   

It will never happen. Can you imagine the restrictions/stipulations from the government if it did?

[Luis Gonzalez]

It can not be sustained as currently configured.  Check out:  http://www.ssa.gov/history/ratios.html

Google "earnings suspense file".

[Bigun]

Oh no, you're not going to get away with that.

The post is still up for everyone to see.

I said:

"Your Grandmother got benefits because she paid for them."

You highlighted that line, then said:

"The part I bolded and underlined is totally incorrect!"

Then you come back and argue that you cash your checks because you were given no choice but to pay into the system.

Am I going a bit fast for you here?

I'm VERY confident that most people will be able to read and accurately interpret what was said Luis so I'll just leave it right there!

[Lando Lincoln]

Google "earnings suspense file".

Thank you for the reference/lead to something I (guess I) intuitively understood but had never seen the stats.  When I can, I will read more but I saw some tables where upwards of $1 trillion has been "parked" (at least accounting-wise) due largely to the pay-ins of workers who have no legal claim for future benefits (mostly immigrants, obviously).  What I am unable to discern is how those monies are being used presently.  Most articles suggest it is not an untapped and unused pool of money, but rather the ledgers simply account for the $$$  for future purposes. 

I won't post any links because I am not sure which ones have full credibility.  Will read more later.

Thanks Luis.

[GourmetDan]

What I am unable to discern is how those monies are being used presently.  Most articles suggest it is not an untapped and unused pool of money, but rather the ledgers simply account for the $$$  for future purposes. 

There's no fiat there (paper or digital), only IOUs from Uncle...

[Luis Gonzalez]

Thank you for the reference/lead to something I (guess I) intuitively understood but had never seen the stats.  When I can, I will read more but I saw some tables where upwards of $1 trillion has been "parked" (at least accounting-wise) due largely to the pay-ins of workers who have no legal claim for future benefits (mostly immigrants, obviously).  What I am unable to discern is how those monies are being used presently.  Most articles suggest it is not an untapped and unused pool of money, but rather the ledgers simply account for the $$$  for future purposes. 

I won't post any links because I am not sure which ones have full credibility.  Will read more later.

Thanks Luis.

Oh, it's neither untapped or unused. The Feds wouldn't pass up on some free money to use.

I do wonder whether or not this unorthodox source of Federal funding is one of the reasons why everyone talks about securing borders and reforming immigration as a campaign topic, but no one ever seems to actually do anything about all the people here illegally and working and whose earnings end up getting suspended in that file.

[Lando Lincoln]

Oh, it's neither untapped or unused. The Feds wouldn't pass up on some free money to use.

I do wonder whether or not this unorthodox source of Federal funding is one of the reasons why everyone talks about securing borders and reforming immigration as a campaign topic, but no one ever seems to actually do anything about all the people here illegally and working and whose earnings end up getting suspended in that file.

Universally correct maxim:

Follow the money.

[Cyber Liberty]

Thank you for the reference/lead to something I (guess I) intuitively understood but had never seen the stats.  When I can, I will read more but I saw some tables where upwards of $1 trillion has been "parked" (at least accounting-wise) due largely to the pay-ins of workers who have no legal claim for future benefits (mostly immigrants, obviously).  What I am unable to discern is how those monies are being used presently.  Most articles suggest it is not an untapped and unused pool of money, but rather the ledgers simply account for the $$$  for future purposes. 

I won't post any links because I am not sure which ones have full credibility.  Will read more later.

Thanks Luis.

Luis is great that way.  He mentioned Frédéric Bastiat's "The Law" one day, and I spent a week reading the book (Kindle, $.99).  It was very enlightening about how far we've strayed from the Founders' intent.  I knew we strayed, but had no idea how much.

[Cyber Liberty]

Oh, it's neither untapped or unused. The Feds wouldn't pass up on some free money to use.

I'm sure it's propping up a balance sheet somewhere.

I do wonder whether or not this unorthodox source of Federal funding is one of the reasons why everyone talks about securing borders and reforming immigration as a campaign topic, but no one ever seems to actually do anything about all the people here illegally and working and whose earnings end up getting suspended in that file.

I'm sure of it.  The dirty little secret is if they ever got a handle on the illegal immigration, the SS receipts would dry up and that aforementioned balance sheet would tip over.  In another manner of speaking, the Government is ripping off the illegals even more than they are threatening to rip the rest of us off for.  I'm sure that gets whispered into every congresscritter's ear whenever they get too feisty about controlling the borders.

[Luis Gonzalez]

I'm sure it's propping up a balance sheet somewhere.

I'm sure of it.  The dirty little secret is if they ever got a handle on the illegal immigration, the SS receipts would dry up and that aforementioned balance sheet would tip over.  In another manner of speaking, the Government is ripping off the illegals even more than they are threatening to rip the rest of us off for.  I'm sure that gets whispered into every congresscritter's ear whenever they get too feisty about controlling the borders.

I do a lot more reading than posting these days. In one of my forays, I ran across an interesting report.

Go to the link below, download the pdf file, and go to page 6

http://www.prb.org/Publications/Reports/2002/GovernmentSpendinginanOlderAmerica.aspx

The section is titled "Is Population Immigration the Solution to Population Aging?"

It's short, but insightful.

Had to correct the title.

[DCPatriot]

Love this place!   

[Cyber Liberty]

I do a lot more reading than posting these days. In one of my forays, I ran across an interesting report.

Go to the link below, download the pdf file, and go to page 6

http://www.prb.org/Publications/Reports/2002/GovernmentSpendinginanOlderAmerica.aspx

The section is titled "Is Population Immigration the Solution to Population Aging?"

It's short, but insightful.

Had to correct the title.

That's a good find.  It ties back nicely to the argument about the ratio of workers to retirees being relatively high when SS started, and now it's really low.  The Ponzi scheme is breaking down, and the day of reckoning is not in some far-off decade.

While I'm ticked at the idea of just writing the whole thing off, I could swallow that but for the fact that irresponsible people who haven't done a whit of planning and saving for retirement will get covered like nothing was ever wrong.  This will be the end result if "means testing" gets applied to SS.  Maybe I'm just exhibiting a character flaw.

[Cyber Liberty]

Love this place!   

Me too.  You guys and Luis are here.

 

[DCPatriot]

Me too.  You guys and Luis are here.

 

[Luis Gonzalez]

Me too.  You guys and Luis are here.

 

 

[Bigun]

That's a good find.  It ties back nicely to the argument about the ratio of workers to retirees being relatively high when SS started, and now it's really low.  The Ponzi scheme is breaking down, and the day of reckoning is not in some far-off decade.

While I'm ticked at the idea of just writing the whole thing off, I could swallow that but for the fact that irresponsible people who haven't done a whit of planning and saving for retirement will get covered like nothing was ever wrong.  This will be the end result if "means testing" gets applied to SS.  Maybe I'm just exhibiting a character flaw.

Not a character flaw at all! Particularly in light of your ability to see the truth! Social Security as it is currently constituted is not sustainable period.

[aligncare]

Me too.  You guys and Luis are here.

 

Get a room.

[GourmetDan]

Get a room.

 

[libertybele]

Yikes...ok then...back to Cruz.  His comment of "means testing" just may become an issue for him...however, there is the possibility that he may have been misquoted. 

[Lando Lincoln]

Yikes...ok then...back to Cruz.  His comment of "means testing" just may become an issue for him...however, there is the possibility that he may have been misquoted.

He certainly deserves a chance to clarify but "means testing" is very precise terminology.

[Cyber Liberty]

Yikes...ok then...back to Cruz.  His comment of "means testing" just may become an issue for him...however, there is the possibility that he may have been misquoted.

I doubt he was misquoted, but I also doubt it will be an issue for him.  Not many people understand why it's a poison pill.

[Lando Lincoln]

I doubt he was misquoted, but I also doubt it will be an issue for him.  Not many people understand why it's a poison pill.

What is curious is that "means testing" is diametrically opposite of how he is selling himself. He deserves an opportunity to disavow or clarify his remarks.