Social Security Has an Immigration Problem -- and It's Getting Progressively Worse

[rangerrebew]

 
The Motley Fool
Social Security Has an Immigration Problem -- and It's Getting Progressively Worse
Story by Sean Williams  •
5h


Based on the responses of retirees from more than 20 years of annual surveys from national pollster Gallup, Social Security income is indispensable. Between 80% and 90% of then-current retirees said they lean on their monthly Social Security check to cover at least a portion of their expenses.
 
Ensuring that the foundation of America's top retirement program remains strong for current and future generations of retired workers is paramount. Unfortunately, this 88-year-old program is exhibiting signs of distress, and immigration issues are one of the core reasons why.

America's top retirement program is facing a long-term funding shortfall of $22.4 trillion
Every year since monthly retired-worker payouts began in 1940, the Social Security Board of Trustees has released a report that examines the program's current balance sheet and forecasts its financial health over the short run (next 10 years) and long term (next 75 years). The trustees take into account a number of factors, including demographics changes, along with shifts in fiscal and monetary policy, when issuing their forecast on Social Security's financial outlook.

https://www.msn.com/en-us/money/retirement/social-security-has-an-immigration-problem-and-it-s-getting-progressively-worse/ar-AA1mzUG2?ocid=msedgntp&cvid=91411f419c6149de875676d9f73e19a7&ei=41

[MajorClay]

Important

[Bigun]

They have been lying about Social Security since day one.

https://twitter.com/BasedMikeLee/status/1863771172485104124

Read the entire thread.

[DefiantMassRINO]

During the late 1980s/early 1990s, I was standing on an inbound subway platform headed to work.  Next to me were middle-aged Chinese women having a conversation in Chinese.  They did not seem to know much English.  But I was able to make out one word, "S.S.I.".

Also, during the late 1980s, I was doing community service in a homeless day shelter on the edge of the old Combat Zone for my last senior semester of Catholic high school.  At the beginning of the month, a person would come to deliver Social Security checks to homeless "clients".  After that, people would disappear for a couple of weeks as they binged on booze and drugs with their Social Security checks.

Also, during the early 1990s, I knew a young high school woman who was receiving a monthly check from Social Security for being disabled.  She probably suffered from effects of fetal alcohol syndrome, but, her family was not using the check for medical services.

Social Security is more than a retirement annuity for workers.  It is also a slush fund for well-intentioned, but misguided liberal social programs for non-retirees.

Social Security and Homeland Security have a similar issue ... they are so big, so complex, so many missions, and such large budgets, the Administrative State treats them as discretionary slush funds through which to launder monies towards liberal pet causes.

There is no reason FEMA money should be used for Illegal Immigrants.  That is creative accounting to hide the true costs of illegal immigration from voters and taxpayers.  Nobody would dare reduce FEMA funds because that is bad optics.  While the money is not being used for disasters, it just sits there.  That's a honeypot no bureaucrat can resist.  There's no harm in re-allocating "unused" FEMA funds to help illegal immigrants ... until that money is needed for real disasters.  Biden's solution is to request supplemental funding.

FEMA funds for direct disaster relief should be placed in an escrow that requires Congressional approval for withdrawals to prevent abuse as long as it remains in Dept of Homeleand Security.