The Social Security Crises Myth

From the Congressional Budget Office;

CBO’s projections indicate that future Social Security beneficiaries will receive larger benefits in retirement—and will have paid higher payroll taxes—than current beneficiaries do, even after adjustments have been made for inflation and even if the scheduled payments are reduced because the trust funds are exhausted.

As noted in the report, the trust funds won't exhaust before.. 2049.

So.. to make it clear.. even if the trust funds run out.. even if.. benefits will still be higher in real dollars than they are now.

Would be nice if the doomsayers would just shut the fuck up, eh?


via Prof. K

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Adding.. that a lot of the loons on the right think that Social Security was an un-Constitutional act. The Supreme Court decided otherwise in two cases, Steward Machine Company v. Davis, and Helvering v. Davis.

Social Security is very popular in this country, and any attempt to dissolve it would be political suicide.

Fact is, one never knows what might happen in life. You could get close to retirement age, and for any number of reasons, your entire savings could be wiped out.

Social Security will help make sure you don't get by on dog food in your old age.