For 20 years, Social Security has always been in trouble but no politician has ever wanted to talk about it.

Now it was announced that Social Security will run out in 2037.

But I bet all will still be paying!

So now some future President will have to handle it, to fix another Obama mess.

PS. To the ones who come in here to defend Obama > well he still has the chance to fix it with the rest of the f ups from this Presidency.

OR WILL HE JUST IGNORE THE PROBLEM????? AND LET IT FALL TO FUTURE GENERATIONS?

Just heard an update....Social Security is paying out about 50 Billion More than it is taking in for Payroll Deductions.

One Big Problem that I always thought was that no Politician wanted to piss off a very big voting group - the elderly.

Especially since the elderly have collected far more than they have paid in...so they should have started cutting the ones who really didn't need it.

Wish we have had a income means test set up...as things have gotten too far out of hand.

PS to Obama....Yup, I know you think 50 Billion is pocket change, but it all adds up!

It's really a shame that some people might be paying into Social Security their whole lives and might not see a dime of that once they retire.

as the retirement age is already 70+, I imagine that by the time the new graduates retire, it will be 75/80. So that is like 60 years in the future for them or 2070!

PS. I think that late age is really pretty f up. As your 70s is too late to retire to enjoy life anyway.

PS. Goldie thinks that is funny, to all the Goldie lovers out there.

I think your forgetting the meaning of the word "social".

Social Security kicks in before the age of 70. Full benefits start at age 67 for those born after 1960. See here: http://www.socialsecurity.gov/retire2/agereduction.htm
I find it funny that you complain that Social Security is bankrupt then seem to suggest that the retirement age should be lowered. Finally, you can start your own retirement plan and retire whenever you want and not take full benefits until 67. Social Security was never designed to be a retirement program, although many people think of it as such.

Are you seriously implying that Grill can be consistent in his arguments???

Thought it was raised past 70, my mistake.

and yes it is too old, it should be lowered, and lots of people should be cut off through a income means test.

so tell me why the 2 ideas above can't be done, as if the money saved from a income means test is enough, retirement age can be lowered.

PS. I know it is a complex idea, that you and Obama might not understand, right away...but try to work through it and you will understand it.

Stop accusing people of being shills for President Obama when they disagree with something you say. I attempt to adhere to a coherent political philosophy and I also try to understand the ideas of other people. Your populist impulse allows you to do neither. My anti-Obama bona fides are not in question.

I agree that Social Security needs to be fixed and I think means testing will have to be a part of that, even if it is rather unfair. However, I think it will be even less fair and politically impracticable to lower the age when Social Security benefits can be received in full and then increase benefits to those who earned less money throughout their working life. Furthermore, for your plan to work you would probably need to raise that cap on wages that are subject to FICA. Maybe up to the first $200,000 earned, but that is just a guess, and those people would then complain (and rightly so) that they are facing a tax increase without any benefit to them due to means testing. In fact, that would be a purely redistributionist policy, something you and President Obama seem to like.

My suggestion would be that we create new age brackets corresponding to when a person would be eligible for full benefits, I would have to look at the numbers to know what ages are feasible, but I would guess slowly building up to 70 would be fine. Those brackets would also coincide with set percentages allowing those members of the age group to set aside a certain portion of their money allocated to Social Security into some sort of private account, stocks or an IRA or something. The younger the person, the more that that person could put into a private account. I probably would have to take a paternalistic stance and maybe allow only 80% of their maximum FICA contributions go into the private market because some people are fucking stupid and we would then be forced to take care of a feeble and broke elderly person once they reached retirement age.

The cap on income subject to FICA might also have to be raised in the short term to pay for the benefits mess that is currently afoot. As noted above, I think this is unfair and redistributionist, but because I would raise the benefit accrual age and allow only moderate means testing, I would hope that this would only be a short term policy which could be phased out once the private sector portion of Social Security was in full swing.

Of course, the Federal government would probably not like my plan because it would mean that they could not borrow from Social Security to pay for items in the general budget.

FYI, You took it the wrong way. I was only teasing you and Obama, seperately, that you couldn't understand my simple idea of the solution > based on your comment, "I find it funny that you complain..."

Anyway, it seems we both agree...and my thought that the retirement age should be lowered is more of a personal thought, than a practical thought, in that I think 70 is just too late to retire.

So, to summarize from Grill's posts:

Social Security is going bankrupt and it's all Obama's fault

AND

We should lower the age for Social Security so more people can get it and it can get even more in debt.

Right, got it.

Wow Groucho. Totally ignoring my argument on how many people would be cut off means testing.

**** Or maybe you just aren't smart enough to understand that. LOL? *****

And I just said on a personal note that - think 70 is too old to retire.

SO Fool, do you understand the recap.

PS. So as this has blown up, do you think Obama will continue to ignore this Social Security issue for the rest of his bad Presidency.

No, Grill, you don't get it once again.

Once more, you criticize without offering a single solution. Worse yet the suggestion you do make would make matters even worse. Of course, the irrationality of that and the inconsistency of your position goes right in one ear and out the other since there is no brain in there to get in the way. This is even after another poster above pointed it out to you as well.

Sorry Groucho, but of course your wrong again as he agrees with my thought of means testing.

And like Krem pointed out to you, just because one doesn't know the answer. One can ask the question.

Boy are you a Fool!

But at least I have pointed out this as a huge problem. While Obama just ignores it.

PS. Give me access you all the advisors that Obama has, as it seems that he is wasting them. And I would get the job done.

Something Obama has just messed up day after day.

AND OBAMA CONTINUES TO IGNORE THE PROBLEM > AS HE PASSES OVER TRYING TO FIX THE PROBLEM!