I see the sky is still falling, Chicken Little.Hey nuc, even though I'm benefiting - at least for now - from your hard work and the government taking your money to pay for my retirement, you probably won't be so lucky. It's the socialists' way, you know. But they're running out of other people's money. Better start a Plan B.
Then again, you might find some comfort in knowing we'll probably be in the same boat when Social Security implodes even before I kick the bucket.
Maybe we should learn a lesson from SS before we repeat the same mistake with Obamacare.
Nevermind. You probably don't get it.
Again, Lorac, when have ANY of your 'it's the end of the world' predictions ever come true?
SS is just fine.
After 2033, Social Security could pay three-fourths of scheduled benefits using its tax income if policymakers took no steps to shore up the program.(Those who fear that Social Security wonít be around at all when todayís young workers retire and that young workers will receive no benefits misunderstand the trusteesí projections.)
The programís shortfall is relatively modest, amounting to 1 percent of Gross Domestic Product (GDP) over the next 75 years (and 1.6 percent of GDP in 2087, the 75th year). A mix of tax increases and benefit modifications ó carefully crafted to shield recipients with limited means and to give ample notice to all participants ó could put the program on a sound footing indefinitely. Social Security benefits are very modest. The average retiree or elderly widow receives just $15,000 a year from Social Security (and the average disabled worker even less); an unmarried elderly person, on average, has just $3,000 in annual income other than his or her Social Security. Accordingly, taxes should make up a large proportion of a solvency package.