As long as there are workers, It is impossible for SS to go bankrupt. The worst that will happen is that SS will be able to pay out about 75% of scheduled benefits, hardly a bankruptcy situation.
The bankrupt talk comes from Republicans. They have always hated Social Security, and would love to abolish it. Since they can't do that, the claim it is going bankrupt and benefits must be cut. Cutting benefits will throw more seniors into poverty, and then they'll claim it doesn't work and try to abolish it again. It's all part of a devious and mean-spirited plot.
No one stole SS funds. Excess SS funds are invested in Treasury bonds are required by law. SS loaned the money to the government. It was not stolen, any more than the bank is stealing your money when you make a deposit.
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As long as there are workers, It is impossible for SS to go bankrupt. The worst that will happen is that SS will be able to pay out about 75% of scheduled benefits, hardly a bankruptcy situation.
ReplyDeleteThe bankrupt talk comes from Republicans. They have always hated Social Security, and would love to abolish it. Since they can't do that, the claim it is going bankrupt and benefits must be cut. Cutting benefits will throw more seniors into poverty, and then they'll claim it doesn't work and try to abolish it again. It's all part of a devious and mean-spirited plot.
ReplyDeleteThe rePuke-ians may hate SS but that did not stop the honorable Aholes in congress from stealing funds from it.
ReplyDeleteNo one stole SS funds. Excess SS funds are invested in Treasury bonds are required by law. SS loaned the money to the government. It was not stolen, any more than the bank is stealing your money when you make a deposit.
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