Platinum Contributing Member steve from amherst Posted March 31, 2023 Platinum Contributing Member Share Posted March 31, 2023 The Social Security trust funds that about 67 million Americans rely on for benefits are scheduled to be depleted in 2034, one year earlier than was projected last year, according to the annual trustees’ report released by the Treasury Department on Friday. Unless Congress takes action, at that time, 80% of scheduled benefits will be payable from the combined funds for old age and survivors insurance and disability insurance. The new depletion date comes as the trustees updated their projections for the U.S. economy to include recent output and inflation data. The expected levels of gross domestic product and labor productivity were revised down by about 3% for the projected time period, which worsened the outlook for Social Security’s combined funds, according to the report. Meanwhile, Medicare’s hospital insurance trust fund will be able to pay 100% of scheduled benefits until 2031, three years later than projected last year. More from Personal Finance: How to prioritize retirement and emergency savings Roth IRAs don’t require withdrawals — unless they’re inherited New tool lets you play at fixing Social Security woes The new estimates prompted renewed calls for fixes to the programs, which Treasury Secretary Janet Yellen referred to as “bedrock programs that older Americans rely upon for their retirement security.” Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted March 31, 2023 Share Posted March 31, 2023 Give the BOOMERS another COLA increase!!! said a guy born in 1970... Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted March 31, 2023 Platinum Contributing Member Share Posted March 31, 2023 12 minutes ago, Crnr2Crnr said: Give the BOOMERS another COLA increase!!! said a guy born in 1970... Several ways to make it solvent. Repugs drag their feet on anything that benefits the masses and requires historically equivalent tax code. Defend the .1% at the expense of the rest. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 31, 2023 Share Posted March 31, 2023 5 minutes ago, SnowRider said: Several ways to make it solvent. Repugs drag their feet on anything that benefits the masses and requires historically equivalent tax code. Defend the .1% at the expense of the rest. The solution is placing a greater burden on the wealthy. Given the erosion of middle class wealth and the bigger slice of the wealth pie sliding upward, this only makes sense. Will the GOP’ers do it? Nope. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 31, 2023 Share Posted March 31, 2023 21 minutes ago, Crnr2Crnr said: Give the BOOMERS another COLA increase!!! said a guy born in 1970... Some of them depend on their SS to survive. What do you suggest? Let them starve? Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted March 31, 2023 Share Posted March 31, 2023 9 minutes ago, SnowRider said: Several ways to make it solvent. Repugs drag their feet on anything that benefits the masses and requires historically equivalent tax code. Defend the .1% at the expense of the rest. Maybe not paying people that contribute nothing? 2 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted March 31, 2023 Platinum Contributing Member Share Posted March 31, 2023 5 minutes ago, spin_dry said: The solution is placing a greater burden on the wealthy. Given the erosion of middle class wealth and the bigger slice of the wealth pie sliding upward, this only makes sense. Will the GOP’ers do it? Nope. Well yeah. But not voting or standing by only makes one complicate in placating the wealthy. Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted March 31, 2023 Share Posted March 31, 2023 28 minutes ago, SnowRider said: Well yeah. But not voting or standing by only makes one complicate in placating the wealthy. It’s always more of other peoples more and never a thought to responsible spending…. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 31, 2023 Share Posted March 31, 2023 We need a boomer plague, stat! 1 Quote Link to comment Share on other sites More sharing options...
airflite1 Posted March 31, 2023 Share Posted March 31, 2023 1 minute ago, Anler said: We need a boomer plague, stat! HEY!!! 1 Quote Link to comment Share on other sites More sharing options...
Anler Posted March 31, 2023 Share Posted March 31, 2023 Just now, airflite1 said: HEY!!! We will miss you! 2 Quote Link to comment Share on other sites More sharing options...
airflite1 Posted March 31, 2023 Share Posted March 31, 2023 1 minute ago, Anler said: We will miss you! Wasn’t Covid the Boomer plague? Just not quite effective enough. 1 Quote Link to comment Share on other sites More sharing options...
Anler Posted March 31, 2023 Share Posted March 31, 2023 2 minutes ago, airflite1 said: Wasn’t Covid the Boomer plague? Just not quite effective enough. It was disappointing 1 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 1, 2023 Share Posted April 1, 2023 14 hours ago, SnowRider said: Several ways to make it solvent. Repugs drag their feet on anything that benefits the masses and requires historically equivalent tax code. Defend the .1% at the expense of the rest. both parties have no interest in making it solvent or have crafted a palatable plan... in 50 years. 14 hours ago, spin_dry said: The solution is placing a greater burden on the wealthy. Given the erosion of middle class wealth and the bigger slice of the wealth pie sliding upward, this only makes sense. Will the GOP’ers do it? Nope. there should have been a multipronged plan to make it solvent decades and decades ago... they knew how many boomers were going to suckle the teet and did nothing. eliminating or raising the SSI cap should have happened at least twenty years ago, so I'll give you that one. 14 hours ago, spin_dry said: Some of them depend on their SS to survive. What do you suggest? Let them starve? sure, some probably do. I'd be curious to see what percentage because every boomer I know that isn't dead is doing pretty damn well. shame cat food has went up so much with inflation though. 13 hours ago, Anler said: It was disappointing well, Faucci and Trump are boomers... apparently they didn't want to kill all of their kind, just some of us younger one's paying for their lavish lifestyles Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted April 1, 2023 Platinum Contributing Member Share Posted April 1, 2023 So months after they increased it they are now talking about reducing it? SMH Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted April 1, 2023 Author Platinum Contributing Member Share Posted April 1, 2023 1 minute ago, Skidooski said: So months after they increased it they are now talking about reducing it? SMH Elections over dude 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 1, 2023 Share Posted April 1, 2023 The problem with todays generation (see above) is they whine about everything. Instead of working hard for their futures they blam others for their own fails. But yeah its the boomers….. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted April 1, 2023 Platinum Contributing Member Share Posted April 1, 2023 Another Boomer pandemic please 🙏 Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted April 1, 2023 Share Posted April 1, 2023 18 minutes ago, Skidooski said: So months after they increased it they are now talking about reducing it? SMH “Seniors are getting the biggest increase in their Social Security checks in 10 years through President Biden’s leadership,” the White House tweeted Tuesday. Twitter later added context below the tweet noting that the increase was due to the annual cost of living adjustment as part of a 1972 law that tied automatic benefit adjustments to the consumer price index, a key marker of inflation.” Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 1, 2023 Share Posted April 1, 2023 7 minutes ago, Mainecat said: The problem with todays generation (see above) is they whine about everything. Instead of working hard for their futures they blam others for their own fails. But yeah its the boomers….. wtf are you talking about... your generation didn't contribute nearly enough thanks to the boomers that were in charge of properly planning to keep it solvent long term from BOTH fucking parties? kick the can down the road. I don't lay the blame on you or others here personally... but how would you feel if you had contributed your entire life and were now being told you might get 80% of what you should be, while in the mean time the boomers keep getting increases that are helping suck the system even drier? https://www.cnbc.com/2023/03/31/social-security-trust-funds-depletion-date-moves-up-to-2034.html your generation would be pissing and fucking moaning... and having protest parades at the Villages on their golf carts in Florida. Social Security’s combined funds that pay retirement, disability and family benefits will be able to pay scheduled benefits until 2034, according to the program’s annual trustees report released on Friday. At that time, the program will be able to pay 80% of scheduled benefits. The new projection date is one year earlier than the forecast from last year, prompting retirement advocates to call on Congress to fix both Social Security and Medicare. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted April 1, 2023 Platinum Contributing Member Share Posted April 1, 2023 3 minutes ago, Sleepr2 said: “Seniors are getting the biggest increase in their Social Security checks in 10 years through President Biden’s leadership,” the White House tweeted Tuesday. Twitter later added context below the tweet noting that the increase was due to the annual cost of living adjustment as part of a 1972 law that tied automatic benefit adjustments to the consumer price index, a key marker of inflation.” Yes a COLA increase and now talk of reducing it Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 1, 2023 Share Posted April 1, 2023 The U.S. House of Representatives is getting younger – at least a bit – while the Senate’s median age continues to rise, according to a Pew Research Center analysis of the newly installed 118th Congress. The median age of voting House lawmakers is 57.9 years, down from 58.9 in the 117th Congress (2021-22), 58.0 in the 116th (2019-20) and 58.4 in the 115th (2017-18). The new Senate’s median age, on the other hand, is 65.3 years, up from 64.8 in the 117th Congress, 63.6 in the 116th and 62.4 in the 115th. https://www.pewresearch.org/fact-tank/2023/01/30/house-gets-younger-senate-gets-older-a-look-at-the-age-and-generation-of-lawmakers-in-the-118th-congress/ and then, there's the notion and issue of voting for either of the two of the most incompetent, loathed and hated BOOMER's in my f'ng lifetime to lead this nation forward? give me a break... 1 Quote Link to comment Share on other sites More sharing options...
Gold Member Stephen Hawking Posted April 1, 2023 Gold Member Share Posted April 1, 2023 37 minutes ago, Crnr2Crnr said: The U.S. House of Representatives is getting younger – at least a bit – while the Senate’s median age continues to rise, according to a Pew Research Center analysis of the newly installed 118th Congress. The median age of voting House lawmakers is 57.9 years, down from 58.9 in the 117th Congress (2021-22), 58.0 in the 116th (2019-20) and 58.4 in the 115th (2017-18). The new Senate’s median age, on the other hand, is 65.3 years, up from 64.8 in the 117th Congress, 63.6 in the 116th and 62.4 in the 115th. https://www.pewresearch.org/fact-tank/2023/01/30/house-gets-younger-senate-gets-older-a-look-at-the-age-and-generation-of-lawmakers-in-the-118th-congress/ and then, there's the notion and issue of voting for either of the two of the most incompetent, loathed and hated BOOMER's in my f'ng lifetime to lead this nation forward? give me a break... Biden is older than boomer age. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 1, 2023 Share Posted April 1, 2023 33 minutes ago, Stephen Hawking said: Biden is older than boomer age. 76 or 80... both or either are a horrible choice. 1 Quote Link to comment Share on other sites More sharing options...
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