# Informative Article About The State Of Social Security



## JimW (Jun 29, 2018)

I found this article very informative and helpful regarding the state that the SS program is currently in now and the possible changes needed to keep it solvent in the future. The changes that could be made to SS in the future to keep it solvent are pretty basic and not nearly as drastic as some will have you believe. It also dispels the myths that SS is broke or bankrupt and that politicians raided the SS reserves for other purposes.



> *Will Social Security Be There for Me When I Retire?*
> 
> *Here's what you need to know about what the future may hold for Social Security.*
> 
> ...


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## OneEyedDiva (Jul 17, 2018)

Very interesting so I will share the linked article on my other networking sites. What's certain is that you can't have deficits of 96 - 169 billion and keep paying out the same amounts to people and for a longer time, since we're living longer. For about 4 years I've been reading about the proposed and likely 24% (then dropped to 23%) across the board cut in benefits starting in 2024. Some people here seem to not want to face that probability but I saw the notice with my own eyes on the ssa.gov website, once on their home page then as a message in my SS inbox. It was taken down, maybe they thought it was too premature but I really wished I had screen shot both of them.  Perhaps they'll come up with another viable solution (I've seen a couple of other ideas under serious consideration) but the fact is, they'd better do it soon.


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## StarSong (Jul 17, 2018)

This is certainly an encouraging article.  Thanks for sharing it with us.


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## JimW (Jul 18, 2018)

I'm glad you both found the article interesting.

I think the best fix would be to raise the taxable income cap and gradually raising the payroll tax. I really don't see how benefit cuts would work for anyone except the people who really don't need SS to live on, which in the grand scheme of things aren't many. SS payouts are pretty low as it is, cutting those benefits even further could have catastrophic results for a good amount of present and future retirees that rely on SS for survival.


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## mathjak107 (Jul 18, 2018)

two things would help. get ssdi off the back of social security retirement . fix the fraud and abuse and make it part of welfare which it really is . then close up the spousal benefits for married and ex's . they should not have any more advantage then singles do .the choice not to work is a personal choice whether married or single .


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## Knight (Jul 18, 2018)

Quote


two things would help. 
1. get ssdi off the back of social security retirement . 
2. fix the fraud and abuse and make it part of welfare which it really is . 
3.then close up the spousal benefits for married and ex's . they should not have any more advantage then singles do .the choice not to work is a personal choice whether married or single .


I hope you can appreciate the humor in pointing out the TWO things. 


All 3 points & more are what should be done but the chances are probably zero to none.


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## AZ Jim (Jul 18, 2018)

Mathjak107, What's with the space before the period?  New fad?


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## mathjak107 (Jul 18, 2018)

i type with 1 finger lefty on a nook . it just kind of does it's own thing  if i am not ultra careful .


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## JimW (Jul 18, 2018)

AZ Jim said:


> Mathjak107, What's with the space before the period?  New fad?



Could be a distress signal. Maybe mathjak is being held prisoner by anti mutual fund extremists?? :wink1:


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## mathjak107 (Jul 18, 2018)

MORE LIKE DIABETIC NEUROPATHY IN MY FINGER TIPS  i am reduced to typing lefty with one hand and one finger so it is what it is . when you type fast that way strange things happen


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## mathjak107 (Jul 18, 2018)

Knight said:


> Quote
> 
> 
> two things would help.
> ...



well one and 2 are all part of the same issue.


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## Knight (Jul 18, 2018)

mathjak107 said:


> well one and 2 are all part of the same issue.



Not when a period separates each sentence. ssdi one issue, fraud another.


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## mathjak107 (Jul 19, 2018)

ssdi fraud and abuse  is a major  issue no matter how you want to view it or i typed it. . just one fraudster lawyer   , eric conn was responsible for 1/2 billion in claims for his clients that should not have been granted .

here in nyc over 100 ss workers ,doctors and lawyers were caught in a ssdi  fraud network .


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## StarSong (Jul 19, 2018)

Back to MJ's point, I agree about SSDI experiencing a lot of fraud.


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## Harold Hayden (Sep 18, 2018)

It was interesting, but I would think separating the OASI from the DI would have been better, as they are two separate trust funds. Also, the interest accrued might have been thrown into the equation for both funds to provide a clearer picture, imo.


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## HipGnosis (Sep 30, 2018)

The SS trust fund wasn't 'technically' "raided", but congress HAS spent the money! 
In '02,  Congresswoman Marcy Kaptur (OH, D) plead with her colleagues to stop the SS Trust Fund raiding.  It was at $235 Billion at the time.  It's now at $2.8 TRILLION!! https://theseniors.center/2018/08/27/over-2-8-trillion-dollars-raided-from-social-security/
Congress has played politics with the $ - They gave the SS 'special bonds' for it, so they can say they didn't literally 'steal it'.  
They are paying interest, but have not begun or promised to pay back the principle!!


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## mathjak107 (Oct 1, 2018)

the above statement about never paying the principal  is totally false and makes no logical sense .

the treasuries social security buys range from short to 15 years . they have ALWAYS  had the principal paid because they have been maturing all along . . these bonds pay a higher rate then cd's or banks .

the money could just as easily have been put in stocks but then that would be communism or socialism as the gov't then owns private business's   ,as well as subjecting the money to market risk .
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
The trust funds now hold only special issues, but they have held public       issues in the past.       Special issue types and properties
      There are two types of special issues:      short-term certificates of indebtedness and long-term bonds.      


The certificates of indebtedness are issued on a daily basis for the           investment of receipts not required to meet current expenditures, and they           mature on the next June 30 following the date of issue.
Special-issue bonds are normally acquired only when special           issues of either type mature on June 30. The bonds generally have maturities            ranging from one to fifteen years.1
      The above properties of special issue securities are summarized in the       following table. 
Type of special issueInvestment
frequencyMaturityCertificates of indebtednessDailyNext June 30BondsJune 30Generally 1 to 15 years1
      Special issue redemption rules
       When special issues need to be redeemed prior to maturity, the securities       are redeemed in order of 


Earliest maturity date;
Lowest interest rate for securities with the same maturity date.




https://www.ssa.gov/OACT/ProgData/specialissues.html


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## mathjak107 (Oct 1, 2018)

here is the real deal on the supposed stealing of ss money .

https://www.cbsnews.com/news/lets-debunk-this-social-security-myth/


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## StarSong (Oct 1, 2018)

Harold Hayden said:


> It was interesting, but I would think separating the OASI from the DI would have been better, as they are two separate trust funds. Also, the interest accrued might have been thrown into the equation for both funds to provide a clearer picture, imo.



OASI = Old Age Survivors Fund (aka the Social Security most on this thread are collecting now or will be soon)  I had to look this one up.  
DI = SSDI = Social Security Disability Insurance


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## mathjak107 (Oct 1, 2018)

StarSong said:


> OASI = Old Age Survivors Fund (aka the Social Security most on this thread are collecting now or will be soon)  I had to look this one up.
> DI = SSDI = Social Security Disability Insurance


Ssdi is draining ss retirement . The claims have been insane


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## JimW (Oct 1, 2018)

mathjak107 said:


> Ssdi is draining ss retirement . The claims have been insane



SSDI has become a form of long term unemployment for a lot of folks that lost jobs in the last recession and never returned to work for various reasons.


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## mathjak107 (Oct 1, 2018)

absolutely. it has become rampant with abuse and fraud . billions had to be moved from ss retirement to ssdi when it recently ran out of money


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## StarSong (Oct 1, 2018)

mathjak107 said:


> absolutely. it has become rampant with abuse and fraud . billions had to be moved from ss retirement to ssdi when it recently ran out of money



I agree.  Billboards and daytime TV have so many ads touting lawyers who claim they can get SSDI benefits for people who have been turned down for them.


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## Harold Hayden (Oct 1, 2018)

HipGnosis said:


> The SS trust fund wasn't 'technically' "raided", but congress HAS spent the money!
> In '02,  Congresswoman Marcy Kaptur (OH, D) plead with her colleagues to stop the SS Trust Fund raiding.  It was at $235 Billion at the time.  It's now at $2.8 TRILLION!! https://theseniors.center/2018/08/27/over-2-8-trillion-dollars-raided-from-social-security/
> Congress has played politics with the $ - They gave the SS 'special bonds' for it, so they can say they didn't literally 'steal it'.
> They are paying interest, but have not begun or promised to pay back the principle!!



Over $2 Trillion of the $2.9 Trillion OASI trust fund is accrued interest. Since the original trust fund was established by the S.S. act of 1935, a reserve account was established, with acknowledgment that congress would use the excess funds for "general welfare" as required by the constitution, while paying interest on funds borrowed from the trust. The reserve account is simply an interest bearing checking account that has paid substantial rates of interest over the years, hitting the 15.31% mark in the 80s. 

As to the "special" bond, it is really no different than any other bond, as all are IOUs. 

It should be noted the social security act of 1935, included many more items than just what we consider S.S. or the OASI. Many of the programs are considered social welfare. The OASI or Old Age and Survivors Insurance is considered a social insurance and was title II of the 1935 S.S. act.

There has and probably always will be misdirection, false and misleading claims about Social Security. When someone talks about cuts to Social Security, exactly which area are they specifically addressing? Social Welfare Programs, or Social Insurance programs... all of which are considered entitlements.

1935 act
Current Law
Interest rate 1937-1999
Interest rate 2000-current


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## mathjak107 (Oct 1, 2018)

it is a great area to create all kinds of political mis-information and get others to believe it  since very few really understand the system .the excess funds have to be invested conservatively .  like any invested money, the borrower is free to use it any way they like . there really is nothing special or different going on here . all bonds are paid off as they mature. like any corporation or state , they pay off the old and issue new .


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## mathjak107 (Oct 1, 2018)

StarSong said:


> I agree.  Billboards and daytime TV have so many ads touting lawyers who claim they can get SSDI benefits for people who have been turned down for them.


Just one attorney Eric conn who in conjunction with a crooked judge and doctor hit Ssdi up for Half a billion dollars in claims that were obtained fraudulently .


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## JimW (Oct 2, 2018)

StarSong said:


> I agree.  Billboards and daytime TV have so many ads touting lawyers who claim they can get SSDI benefits for people who have been turned down for them.





mathjak107 said:


> Just one attorney Eric conn who in conjunction with a crooked judge and doctor hit Ssdi up for Half a billion dollars in claims that were obtained fraudulently .



Yup, all it takes is the right lawyer who will know the right Dr along with the applicant's willingness to play the long game with SSDI, and eventually they'll get their pay day.


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## mathjak107 (Oct 2, 2018)

over 100 in cahoots here in nyc were arrested in an ssdi scam , getting ssdi approved for those who could work.this is what is draining ss retirement .


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