POLITICAL observations & opinions

* paying 75% of scheduled benefits after 2037 and having no trust fund is NOT acceptable to me … so I think Social Security is NOT adequately funded … if you think 75% benefits and no trust fund in 2037 is acceptable, then I guess you think Social Security is adequately funded

Posted by Lew Weinstein on August 19, 2011

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from the Center on Budget and Policies Priorities … Aug 13, 2010 …

  • Social Security can pay full benefits through 2037 without any changes, and relatively modest changes would place the program on a sound financial footing for 75 years and beyond.
  • Social Security’s costs will grow in coming years as members of the large Baby Boom generation (those born between 1946 and 1964) move into their retirement years.
  • Since the mid-1980s, however, Social Security has collected more in taxes and other income each year than it pays out in benefits and has amassed a trust fund of $2.6 trillion.
  • The trust fund will enable Social Security to keep paying full benefits through 2037 without any changes in the program, according to Social Security’s trustees, even though it starts paying out more in benefits than it receives in annual tax revenue before then.
  • After 2037 the trust fund will be exhausted if no changes are made.
  • After that time, Social Security will be able pay three-fourths of its scheduled benefits using its annual tax revenue.

read the entire post at … http://www.cbpp.org/cms/index.cfm?fa=view&id=3261

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LMW COMMENT …

My opinion is that paying 75% of scheduled benefits after 2037 is NOT acceptable … and the time to make the needed changes is now, not ten seconds before it is absolutely necessary. So I think Social Security is NOT adequately funded. If you think 75% benefits in 2037 is acceptable, then I guess you think Social Security is adequately funded.

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One Response to “* paying 75% of scheduled benefits after 2037 and having no trust fund is NOT acceptable to me … so I think Social Security is NOT adequately funded … if you think 75% benefits and no trust fund in 2037 is acceptable, then I guess you think Social Security is adequately funded”

  1. Why not pay only 75 percent of the military budget after 2037?

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