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Post by Deleted on Jan 7, 2015 9:43:03 GMT -5
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Post by moopigsdad on Jan 7, 2015 9:50:42 GMT -5
Interesting articles robg. Thanks for bringing it to the Board's attention. |
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Post by Deleted on Jan 7, 2015 9:55:52 GMT -5
Hard to separate the facts from the hyperbole. Some of this may be over-reaction. But, I just can't see a legit reason for removing a useful funding mechanism. Now, if I am reading this correctly, Congress will have to agree to an increase in payroll tax, or a spending cut elsewhere (good luck with that) or there will be a large cut in benefits as the program approaches insolvency.
The quote:
"The House on Tuesday passed legislation laying out parliamentary rules for the year. The bill included a little-noticed provision blocking Congress from shifting funds to prevent a 2016 shortfall in Social Security's disability insurance program.
The Social Security Administration's actuaries have projected that the disability insurance program's trust fund will run out of money next year, resulting in a 20 percent benefit reduction for nearly 11 million Americans. Since last year, Social Security advocates have been calling on lawmakers to shift funds from the retirement program to make up the difference -- something Congress has done 11 times since the 1950s."
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Post by moopigsdad on Jan 7, 2015 9:59:49 GMT -5
I read the same thing out of the article robg. What is comes down to is the new House of Representatives took away an easy method to keep the disability program solvent and made it much more difficult to accomplish and perhaps unlikely to be accomplished leading to a serious shortfall for all on disability benefits.
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Post by bartleby on Jan 7, 2015 14:52:03 GMT -5
The retirement program was never intended to support the disability program. That was to come out of the General Fund. This is only stopping Peter from robbing Paul and emptying the retirement fund. You can't maintain a good Ponzi scheme if you take from it... The retirement fund should not be put in jeopardy. Quit sending out foreign aide and use it at home. JMHO..
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Post by maquereau on Jan 8, 2015 8:53:30 GMT -5
I'm not sure that there are other choices than raising taxes or cutting benefits. The articles continue to point out that we have been paying out more money in disability benefits than we have been taking in by way of taxes. No program can continue in that fashion.
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