Any thoughts about the snippet in this article

Status
Not open for further replies.
Knight

Knight

Well-known Member
Not political. For me it's about the article content relative to Soc. Sec. & Medicare.


Social Security and Medicare both face funding shortfalls in coming years. Official government projections show Medicare starting to run short of money in 2026, and Social Security starting to come up short in 2034. But those projections donā€™t account for the coronavirus recession that has slashed government tax revenue, with unemployment surging and far fewer people contributing the payroll tax. Analysts at the Committee for a Responsible Budget think Medicare will now run short in 2023, and Social Security in 2031. Others think it could happen even sooner.

https://www.yahoo.com/finance/news/trumps-worst-campaign-promise-183331408.html


I think it could happen sooner
 

Knight said:
I think it could happen sooner
Click to expand...

Me, too. The actuaries have been warning, for years, about the coming budget shortages for Medicare and SS. Yet, nothing seems to be getting done to address this issue. This CoronaVirus, and the high unemployment numbers will certainly accelerate the time when these programs face major issues. There is even talk (from a certain unnamed individual) about eliminating the payroll taxes which fund SS.

I will be quite surprised if Medicare isn't in serious trouble within the next 3 or 4 years, and how that is handled will be a good indicator of what the future of SS will be.

The ONLY thing I can suggest is that Everyone who is concerned about such things, should be paying close attention and VOTE.
 
Yet people want another round of money like the last time.
 

considering that campaign promises are just that, it takes congress to make things happen or not.
The part of the article that caught my attention was this

Analysts at the Committee for a Responsible Budget think Medicare will now run short in 2023, and Social Security in 2031. Others think it could happen even sooner.

2023 isn't far into the future neither is 2031. What exactly will happen is anybody's guess.
 
The payroll tax suspension just enacted by Trump's executive action temporarily defunds Social Security and Medicare.
(You don't really think that these taxes are going to have to be paid at the end of the year, do you?)

What a nightmare this will be for all of us who rely on the promises of Social Security and Medicare.
 
Butterfly said:
I'm sure if you google it with some key words it will turn up.
Click to expand...
I'm sure lots of sites will quote social security and Medicare. However an actual video to see and hear him saying what the news is saying he said??? Haven't found that yet. I like hearing information such as this straight from the source.
 
Regardless of what the current administration said, or is alleged to have said:
Why would anyone want to get the ' old folks' in a tizzy?

I'm in a tizzy, I like to eat, like heat in the winter...
Again, we have to ask-"What is going on?"
The 'why' of it is too murky to grasp... except-if we are bombarded with large
amounts of information, we won't be able to tell up-from-down.

I've been crazy a long time, now the nation is joining me?
 
Don M. said:
Me, too. The actuaries have been warning, for years, about the coming budget shortages for Medicare and SS. Yet, nothing seems to be getting done to address this issue. This CoronaVirus, and the high unemployment numbers will certainly accelerate the time when these programs face major issues. There is even talk (from a certain unnamed individual) about eliminating the payroll taxes which fund SS.

I will be quite surprised if Medicare isn't in serious trouble within the next 3 or 4 years, and how that is handled will be a good indicator of what the future of SS will be.

The ONLY thing I can suggest is that Everyone who is concerned about such things, should be paying close attention and VOTE.
Click to expand...
Everything will be in serious trouble soon, IMO.
 
StarSong said:
Here it is, @Becky1951. (Trump in his own words and voice saying if re-elected he will "forgive these taxes and make permanent cuts to the the payroll tax. I'm going to make them all permanent.")
https://www.rawstory.com/2020/08/tr...curity-and-medicare-if-reelected-in-november/

By doing this, he would eliminate the sole source of funding for SS, SDI and Medicare.
https://twitter.com/i/web/status/1292199936889585664
Click to expand...
He said today he found fund these programs through the general fund, šŸ˜‚, he was asked where he saw the excess in the general fund (or something to that effect.)
 
jerry old said:
Regardless of what the current administration said, or is alleged to have said:
Why would anyone want to get the ' old folks' in a tizzy?

I'm in a tizzy, I like to eat, like heat in the winter...
Again, we have to ask-"What is going on?"
The 'why' of it is too murky to grasp... except-if we are bombarded with large
amounts of information, we won't be able to tell up-from-down.

I've been crazy a long time, now the nation is joining me?
Click to expand...
Getting away from the political of this could there be another explanation?

I think it's pretty well understood that something needs to be done to get congress to generate the legislation to address the problem.

Since congress hasn't how can a president get them to?

IMO create the need now sooner than later, as ugly as it will be.
 
Many of us received money on the first round and posted info saying they had not need for it. I got $1200. I and many othrs should never have been included for this program. So if in the future there is no money we will know why at least in part.
 
Since the majority of Americans are middle class, many are poor, and even less are wealthy, wouldn't it be prudent to put more money into the pockets of the middle class and poor? People who would spend it on goods that they need and want that would benefit the economy and put some money into the pockets of the wealthy. The already rich do not need tax cuts and neither do large corporations. Consider the corporations who get corporate welfare and tax cuts on top of that. The ship is tipping so far to the wealthy that it will take the entire ship with it.

How Corporate Welfare Hurts You | Robert Reich
via @YouTube

More: https://www.youtube.com/results?search_query=corporate+welfare
 
Ceege said:
Since the majority of Americans are middle class, many are poor, and even less are wealthy, wouldn't it be prudent to put more money into the pockets of the middle class and poor? People who would spend it on goods that they need and want that would benefit the economy and put some money into the pockets of the wealthy. The already rich do not need tax cuts and neither do large corporations. Consider the corporations who get corporate welfare and tax cuts on top of that. The ship is tipping so far to the wealthy that it will take the entire ship with it.

How Corporate Welfare Hurts You | Robert Reich
via @YouTube

More: https://www.youtube.com/results?search_query=corporate+welfare
Click to expand...
Oh, I agree. Give ME more money, NOW!
 
Frankly, I don't understand the thought process behind eliminating SS payroll taxes. It's the people who've been laid off or terminated due to COVID who are in need of relief, not the ones whose jobs are intact.

Defunding Social Security and Medicare would be disastrous to tens of millions of seniors who paid in, planned for, and counted on that income during our sunset years.
 
StarSong said:
Frankly, I don't understand the thought process behind eliminating SS payroll taxes. It's the people who've been laid off or terminated due to COVID who are in need of relief, not the ones whose jobs are intact.

Defunding Social Security and Medicare would be disastrous to tens of millions of seniors who paid in, planned for, and counted on that income during our sunset years.
Click to expand...
Well, if most of us die of the virus . . . .
 
Ceege said:
I think a lot of people are fed up with hearing politicians whine about lack of money when they gave such huge tax cuts to large corporations & the wealthy, and give corporate welfare to many large companies. This is either a country of, by, and for the people or we are just propping up the rich so they can keep shoveling money into offshore accounts.
The next election is just around the corner. I hope that 'the people' are researching the folks they want to vote for and make a good decision. We should vote for our own best interests while taking into consideration senior citizens and the disabled. If we are lucky we will all become one of those and we could become the other some day.

8-8-20 Trump just admitted on live television he will ā€˜terminateā€™ Social Security and Medicare if re-elected in November https://www.nationofchange.org/2020...urity-and-medicare-if-re-elected-in-november/ via @NationofChange
Click to expand...
I listened to it. He did not say that. He was talking about the payroll tax. Why are you putting words in his mouth and how is this allowed on a "no Politics" Forum?
 
Gaer said:
I listened to it. He did not say that. He was talking about the payroll tax. Why are you putting words in his mouth and how is this allowed on a "no Politics" Forum?
Click to expand...
I was showing other opinions on subjects that are in the news today. Especially about defunding the post office which is needed by both Republicans and Democrats for mail in voting, prescriptions, and other necessities.
 

Status
Not open for further replies.

Back
Top