For seniors, help with Medicare, tax ...

For seniors, help with Medicare, tax forms

There are 13 comments on the The Lebanon Daily News story from Jan 28, 2012, titled For seniors, help with Medicare, tax forms. In it, The Lebanon Daily News reports that:

The Lebanon County Area Agency on Aging on Wednesday will offer a free class for senior citizens that explains paperwork from Medicare and supplemental-insurance companies.

Join the discussion below, or Read more at The Lebanon Daily News.

Corbett won t help

United States

#1 Jan 28, 2012
Corbett is taking food out of our seniors mouths so he can handout more corporate welfare to his campain donors.

It can get no lower then a state government that means tests our seniors and childrens food sources.

Since: Feb 07

Victoria, MN

#2 Jan 29, 2012
Abolish Medicare, it's insolvent.
FactCheck

Lebanon, PA

#3 Jan 29, 2012
Medicare is not insolvent. The Medicare Trustees publish yearly reports stating the projected year that Medicare will go insolvent, which is currently 2024 (and even then, that's just in terms of covering 100% of costs; it would still cover the majority of costs for 75 more years). But guess what? In 1990, the projected insolvency year was 2003. In 1993, it was 1999. It's been going back and forth for nearly two decades, and not once has Medicare been in danger of immediate insolvency.

(source: Center on Budget and Policy Priorities, http://www.cbpp.org/cms/index.cfm... )

Since: Feb 07

Victoria, MN

#4 Jan 30, 2012
FactCheck wrote:
Medicare is not insolvent. The Medicare Trustees publish yearly reports stating the projected year that Medicare will go insolvent, which is currently 2024 (and even then, that's just in terms of covering 100% of costs; it would still cover the majority of costs for 75 more years). But guess what? In 1990, the projected insolvency year was 2003. In 1993, it was 1999. It's been going back and forth for nearly two decades, and not once has Medicare been in danger of immediate insolvency.
(source: Center on Budget and Policy Priorities, http://www.cbpp.org/cms/index.cfm... )
It's has a shortfall of like $50+ trillion. You source some left wing blog? Wow. Use Google search Mr. Left Wing Hack Check.
FactCheck

Lebanon, PA

#5 Jan 30, 2012
A shortfall is not the same as insolvency.

Think what you want of the CBPP (I have no idea which way they lean), but the relevant figures I quoted came directly from the Medicare Trustees. They're not partisan - just numbers. I'm a fiscal conservative myself, only interested in facts and not inaccurate fear-mongering.

Since: Feb 07

Victoria, MN

#6 Jan 30, 2012
FactCheck wrote:
A shortfall is not the same as insolvency.
Think what you want of the CBPP (I have no idea which way they lean), but the relevant figures I quoted came directly from the Medicare Trustees. They're not partisan - just numbers. I'm a fiscal conservative myself, only interested in facts and not inaccurate fear-mongering.
Whatever, it's going bust like Bernie Madoff's ponzi scheme.

Since: Feb 07

Victoria, MN

#7 Jan 30, 2012
Social Security is the one that's already insolvent
FactCheck

Lebanon, PA

#8 Jan 31, 2012
Again, check your facts and cite your sources, because you are incorrect. Social Security is projected to be solvent through 2038 without any modification.

(Source: Congressional Budget Office, http://cboblog.cbo.gov/... )

Since: Feb 07

Victoria, MN

#9 Jan 31, 2012
FactCheck wrote:
Again, check your facts and cite your sources, because you are incorrect. Social Security is projected to be solvent through 2038 without any modification.
(Source: Congressional Budget Office, http://cboblog.cbo.gov/... )
They are already borrowing to make social security payments and the fund isn't even a fund. It has no assets.
FactCheck

Lebanon, PA

#10 Jan 31, 2012
I don't think you quite understand how these systems work. Please cite your sources in the future when you make such claims.

Since: Feb 07

Victoria, MN

#11 Jan 31, 2012
FactCheck wrote:
I don't think you quite understand how these systems work. Please cite your sources in the future when you make such claims.
http://www.ssa.gov/OACT/TRSUM/index.html

"The Department of the Treasury invests program revenues in special non-marketable securities of the U.S. Government on which a market rate of interest is credited. The trust funds represent the accumulated value, including interest, of all prior program annual surpluses and deficits, and provide automatic authority to pay benefits."

What's a "non-marketable" security? Well, that's a government bond that the government can't legally sell. It's not even legally a bond. It's just an IUO. Which means it's not actually a fund. Funds make investments. You can't invest in your own debt. You can't borrow money from yourself and promise to pay yourself back later with interest and call it an investment.

You don't actually even need a source to understand that it's not an investment. You just have to have common sense.
FactCheck

Lebanon, PA

#12 Jan 31, 2012
If selling non-marketable securities is illegal, then owners of savings bonds had better turn themselves in.

A non-marketable security is simply any security that is not sold on a normal exchange. They are perfectly legal to sell by the government. Common savings bonds are probably the most common type. SS trust fund money is put into US Government securities, then collected upon maturation. Not once has the government failed to pay up, with interest.

http://www.investopedia.com/terms/n/non-marke...

http://www.ssa.gov/oact/ProgData/fundFAQ.html...

Since: Feb 07

Victoria, MN

#13 Jan 31, 2012
FactCheck wrote:
If selling non-marketable securities is illegal, then owners of savings bonds had better turn themselves in.
A non-marketable security is simply any security that is not sold on a normal exchange. They are perfectly legal to sell by the government. Common savings bonds are probably the most common type. SS trust fund money is put into US Government securities, then collected upon maturation. Not once has the government failed to pay up, with interest.
http://www.investopedia.com/terms/n/non-marke...
http://www.ssa.gov/oact/ProgData/fundFAQ.html...
They aren't allowed to sell them and they never will. It's not they will ever run out of bonds. They can always issue more. It's not actually a scarce resource.

What you can't guarantee is that the checks will buy anything when they issue 60 trillion in bonds over the next 30 years and the bulk of it is monitizted by the FED. The U.S. government will default on it's debt/obligations or enter hyperinflation.

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