As President Obama faces pressure on the left to defend federal entitlement programs from the benefit cuts that the Republicans say are necessary to keep the programs solvent decades down the road, one part of Social Security could fall short of paying out full benefits within a few years -- even while Obama is still president. Over the long term, Social Security and Medicare have promised tens of trillions of dollars more in benefits than the nation can pay for under current policies. But Social Security´s disability trust fund is in even worse shape, and current estimates say by 2016
Comments: I am on Social Security benefits and also going to be 65 this year. So many of US from the time we first worked and prepared for retirement "knew" that there was this "security net" if needed. I did. Now, because of all the habitual social engineering by the dRATS and wasting countless dollars with abortions, illegals and their rights, we who paid for and earned it are suddenly being "scared" to know it may not be there anymore. One more reason to win back Congress to stop the waste on Capitol Hill that threatens our fading futures.
At the time of Obama´s first inauguration, the Trustee was suggesting that contributions to the program needed to be doubles or payments out cut by 50%. The reason the need was so great is because there are limitations on how fast the changes will actually go into effect. Instead of taking action, Obama has made things worse by extracting 500 billion to go to Obamacare and allowed a large increase in the numbers on Disability.
The Social Security Trust Fund is non-existent. But that is small potatoes compared to the real train wreck that could hit, literally, any day, namely, a jump in interest rates. If the Fed’s manipulation of interest rates flags one little bit, the cost of servicing US government debt will explode, and federal government discretionary funds will vanish. The peril that Obama’s spending orgy has put this country in cannot be overstated.
IIRC, legal immigrants were allowed to go on SSDI even if they were injured in their home countries and never paid a dime into USA SS. If true, the SSTF was bound to become insolvent sooner than later.
When I heard Obama just the other day talk about entitlements and included social security, it made me litteraly want to grab him by the neck and tell him that for those worked to get SS are not ENTITLEMENTS!!
Human nature being what it is, the disability portion of social security is very vulnerable to being raided, it´s already being raided to some extent now, especially if the liberal Democrats grant what amounts to amnesty for up to 20 million mostly poor illegal aliens, millions of who will claim to have qualifying disabilities as soon as they become eligible.
There are literally thousands of different physical and mental disabilities that a person can claim these days to get on the disability rolls. You can imagine the problems that the system is going to have in dealing with millions of non-English speaking people, represented by lawyers who will be specializing in tailoring disability claims with just enough evidence to squeak through, so that their clients can start getting paid and commence paying attorney´s fees. You can bet that liberal Democrat politicians will then be calling for the disability adjudication system be streamlined and "red tape" cut so that all those potential new liberal Democrat voters can start collecting.
Good - I hope the SS disability scam system goes bankrupt. We need to abolish the entire federal disability system. It is nothing but a way to pay lazy people not to work. It is also a Democrat vote buyer. We need to return to the principle that if you want to eat, you need to work. And the disabled should be taken care of by their families.
Another crises to be exploited after the 2014 midterm election cycle. Expect SS tax increases early in 2015, along with raising the age for full benefits to 70 or beyond. The govn rationale? People are living longer, or if the glass is half empty for you, people are dying sooner, courtesy of Obamacare Death Panels.
I´m thinking I read 11,000 people are being added to the SSDI rolls DAILY. No freakin´ wonder it´s going broke. And then they are talking about adding 20 million illegals. But nothing will happen to their new raise or overpaid salary for 100+ days´ work a year.
On the day SS goes broke so should the pols retirement fund. On the day they jump the eligibility age to 70 the pols retirement eligibility should jump to double the terms they are need. Whatever we suffer they should suffer double. As it is they have no skin in the game.
I can´t produce the money by magic but I do suggest it would be better to not associate the Disability fund with Social Security at all.
The SS Administration does many things. And that results in some efficiency. But it leads to confusion when anyone suggests changing or fixing any one of the functions. Then Seniors scream and unscrupulous politicians happily mislead them to gain votes.
I would spin off each function to a separate agency for clarity.
Then fund the disability out of general revenues. IOW end the paycheck deduction and treat disability payments just like anything else the Congress must budget.
Similarly end any confusion that the various Medicare A,B,C,D etc are somehow associated with SS.
Why have ObamaCare and Medicare and GodKnowsWhatElseCare handled by separate agencies? They are all federally run medical programs.
Right now SS is a catch-all phrase. Separate the activities and also stop all phony accounting such as lending various fund monies to the Treasury.
When my husband applied for SS about 15 yrs ago we were motorhoming. We were in Las Cruces, NM at the time so that was the office where he applied. He was the only person in the office over about the age of 30. All the young people applying for SS disability appeared to be very healthy. We were shocked and disgusted.
The Fair Tax would generate much more revenue to fund social security. Even pimps and drug dealers and under the table workers would pay, because it is a consumption tax. Of course, the income tax and IRS would have to go away..to be replaced by the Fair Tax. The sloths in Congress had better start being the solution instead of the problem, or it will be tar and feathers for all of them.
When we pay our taxes, we have no choice as to where it is spent or wasted, and there lies the problem.
Why are our tax dollars going to foreign countries while they nip and tuck domestic programs ? Why are people who never worked a day in this country allowed to tap the system, not only with SS, Medicaid, and social services, but IRS ?
How many kids are collecting because they are labeled with ADD instead of being corrected at home ?
Montevideo - Uruguay´s Senate is expected to pass a law on Tuesday making the small South American nation the world´s first to allow its citizens to grow, buy and smoke marijuana. The pioneering government-sponsored bill establishes state regulation of the cultivation, distribution and consumption of marijuana and is aimed at wresting the business from criminals. Cannabis consumers would be allowed to buy a maximum of 40 grams (1.4 ounces) each month from state-regulated pharmacies as long as they are over the age of 18 and registered on a government database that will monitor their monthly purchases.
The political temperature in the Arctic rose on Tuesday when Vladimir Putin vowed to step up Russia´s military presence in the region in response to a claim by Canada to the north pole. In typically trenchant style, Putin told his defence chiefs to concentrate on building up infrastructure and military units in the Arctic. He said the region was again key to Russia´s national and strategic interests, following a retreat in the post-Soviet period. His comments were a direct and rapid riposte to Canada, a rival Arctic power. John Baird, said his government had asked scientists to work on a submission to the UN arguing
The phone call came from a charming woman with a bright, engaging voice to the cell phone of a TIME Washington Bureau Chief Michael Scherer. She wanted to offer a deal on health insurance, but something was fishy. When Scherer asked point blank if she was a real person, or a computer-operated robot voice, she replied enthusiastically that she was real, with a charming laugh. But then she failed several other tests. When asked “What vegetable is found in tomato soup?” she said she did not understand the question. When asked multiple times what day of the week it was yesterday, she complained repeatedly of a bad connection.
A porn performer who tested positive for HIV in Los Angeles is asking for privacy as the industry tries to determine the scope of the problem. "The performer deserves privacy and dignity at this difficult time, and we ask that our colleagues and the media respect the performer’s wishes for privacy unless he or she wishes to speak," the Free Speech Coalition, a porn industry trade group, said in a statement. The Free Speech Coalition said it was working to identify anyone who had sex with the infected performer. “We take the health of our performers very seriously and felt
In China on Thursday, Vice President Joseph R. Biden Jr. spoke plainly about the role of a free press in a democratic society. “Innovation thrives where people breathe freely, speak freely, are able to challenge orthodoxy, where newspapers can report the truth without fear of consequences,” he said in an address to American businesspeople living and working there. He was speaking against the backdrop of China’s restrictive policies on reporting by foreign news organizations; the Chinese government has so far declined to renew the visas of nearly two dozen reporters from The New York Times and Bloomberg News as a consequence
Jerusalem - Israeli Prime Minister Benjamin Netanyahu has decided not to attend a memorial service for Nelson Mandela this week because it is too expensive to travel to South Africa, Israeli media reported on Sunday. Netanyahu had notified the South African authorities that he would fly in but cancelled his plans at the last minute due to the costs involved -- around 7.0 million shekels ($2 million) for his transport and security alone, pubic radio and the Haaretz daily reported. "The decision was made in light of the high transportation costs resulting from the short notice of the trip and the security required for the prime minister
New Orleans - Things traditionally get started a little late down here, an inclination that runs from mealtimes to political races. But with nearly a year to go before the 2014 election, it is already open season on Senator Mary L. Landrieu, Democrat of Louisiana. (Snip) As Democrats look across the rest of the South, the outlook does not get much better. Ms. Landrieu, along with Senators Mark Pryor of Arkansas and Kay Hagan of North Carolina, is pretty much all that is left of Southern Democrats in the Senate. All three are up for re-election next year. And the outcome of their races could determine whether the Southern Democrat,
On his way to the podium at the memorial ceremony for former South African president Nelson Mandela, President Obama walked down the line of dignitaries, greeting other leaders there to pay their respects. Among the hands shaken: that of Cuban leader Raul Castro. Obama neither made a special effort to shake Castro’s hand nor to avoid him. A snub might have been awkward: In his speech, Obama praised Mandela’s “greatest gift” as “his recognition that we are all bound together in ways that can be invisible to the eye; that there is a oneness to humanity; that we achieve ourselves by
The Obama State Department has finally released a second round of photos revealing the harrowing devastation wrought by a terrorist attack on the U.S. Consulate in Benghazi on Sept. 11, 2012. The new photographs depict rampant damage to the consulate. They show charred walls, smoldering fires, Arabic graffiti defacing exterior walls, and scattered debris throughout. The extent of the damage would lead any reasonably serious person to conclude that this was a cold, calculated attack, carefully coordinated to mark the 11th anniversary of Sept. 11, 2001. Unfortunately for the American people, the Obama-Clinton-Rice cabal that led to the Benghazi cover-up was
A black fashion student says he was brutally attacked by a gang of Hasidic men who shouted anti-gay slurs at him while he was walking through Williamsburg after a night of partying, the Daily News has learned. Taj Patterson, 22, was headed home to Fort Greene around 4:30 a.m. on Dec. 1 when he says more than a dozen ultra-Orthodox Jewish men began assaulting him on Flushing Ave. and yelling, “Stay down, f----t!”
A “presidential selfie” featuring President Barack Obama, British Prime Minister David Cameron, and Denmark’s Prime Minister Helle Thorning-Schmidt at Nelson Mandela’s memorial service began making the rounds this morning, but it’s the person not included in the frame who caught everyone’s attention: As anyone with two eyes and a Twitter account has noticed, Michelle Obama does not appear amused. Of course, though a picture says a thousand words, not all of those words are necessarily true. FLOTUS might not have even known the photo was taking place. Or she could disapprove of funeral selfies. Either way.
Just how much do many Hollywood liberals hate conservatives? In an interview with Playboy, Ben Affleck said, "When I watch a guy [on film] I know is a big Republican, part of me thinks, I probably wouldn’t like this person if I met him": PLAYBOY: You developed a political profile campaigning for presidential candidates Al Gore, John Kerry and Barack Obama. How did that come about? AFFLECK: I grew up in a house with a mother who was a teacher and a Freedom Rider—very left-wing Democrats living in a heterogeneous working-class neighborhood. I picked up a lot of those values there, and I
MSNBC host Melissa Harris-Perry opened her program over the weekend with a commentary about the Affordable Care Act’s colloquial moniker: “Obamacare.” She said that the word was originally created as a “derogatory term,” designed by white men as a way to delegitimize President Barack Obama and his achievement. However, she said that the term will soon be synonymous with all of Obama’s accomplishments and she urged her audience to use the term with pride. “I want to talk today about a controversial word. It’s a word that has been with us for years, and like it or not, it’s indelibly
Barack Obama has arrived in South Africa to lead the American delegation at a memorial service for former South African President Nelson Mandela in Johannesburg. But his party is reportedly stuck in traffic and he is said to have arrived late at the stadium for the ceremony. [Snip] But Mr Clinton, Mr Carter and his wife Rosalynn have all traveled separately to the event. According to reports, Mr Obama and his delegation are stuck in a lines of traffic caused by tens of thousands of people making their way to the event. Mr Obama is among the foreign leaders who