Proposal to give $2,000 per month to Americans gains traction in Senate

More to think about

Opinion: Thanks to COVID-19, Social Security’s day of reckoning may be even closer than we thought
Published: May 5, 2020 at 11:00 a.m.

Prior to the economic downturn—or collapse—that we’re now experiencing, the trust fund was projected to run out of money by 2035.

This has, practically overnight, gotten worse. Why? Because some 22 million Americans have lost their jobs in the last four weeks. This means there are a lot fewer—millions fewer—people paying those payroll taxes into the Social Security system.

And on top of a lot less money coming in, a lot more will soon be going out. That’s because people who are now out of work and eligible to draw benefits may soon do so, out of sheer economic need.

This one-two punch could mean the depletion of the trust fund sooner than 2035. How soon? Perhaps two years earlier—2033—estimates one of the country’s leading experts on Social Security, Alicia H. Munnell, the director of the Center for Retirement Research at Boston College


EThttps://www.marketwatch.com/story/thanks-to-covid-19-social-securitys-day-of-reckoning-may-be-even-closer-than-we-thought-2020-04-15?mod=article_inline

I'm 79 & way past being concerned about what may or may not happen not long from now. The OPINION of reduction coming sooner seems reasonable. If the $1200.00 caused the potential of only being 13 years from a reduction I'm trying to imagine the impact of $2000.00 monthly if that PROPOSAL ever passed.
 

Knight said:
More to think about

Opinion: Thanks to COVID-19, Social Security’s day of reckoning may be even closer than we thought
Published: May 5, 2020 at 11:00 a.m.

Prior to the economic downturn—or collapse—that we’re now experiencing, the trust fund was projected to run out of money by 2035.

This has, practically overnight, gotten worse. Why? Because some 22 million Americans have lost their jobs in the last four weeks. This means there are a lot fewer—millions fewer—people paying those payroll taxes into the Social Security system.

And on top of a lot less money coming in, a lot more will soon be going out. That’s because people who are now out of work and eligible to draw benefits may soon do so, out of sheer economic need.

This one-two punch could mean the depletion of the trust fund sooner than 2035. How soon? Perhaps two years earlier—2033—estimates one of the country’s leading experts on Social Security, Alicia H. Munnell, the director of the Center for Retirement Research at Boston College


EThttps://www.marketwatch.com/story/thanks-to-covid-19-social-securitys-day-of-reckoning-may-be-even-closer-than-we-thought-2020-04-15?mod=article_inline

I'm 79 & way past being concerned about what may or may not happen not long from now. The OPINION of reduction coming sooner seems reasonable. If the $1200.00 caused the potential of only being 13 years from a reduction I'm trying to imagine the impact of $2000.00 monthly if that PROPOSAL ever passed.
Click to expand...

I have long expected means testing for Social Security.
 

The discrepancies regarding finances within bureaucracies
can only make you moan.
Awfulazing does not help.

Moaning don't help, can it get any worser?
There is not an endless supply of money.
 
You lack the ability to speak and understand redneck talking?
Don't guess you want lessons-huh?

Topic #2, post 31
Double RR: Your post on the depression...
Economics 101 and 102, were really difficult for me.
Prof touched on an economic policy gone to hell, as in the depression.
A picture of the Depression Madonna would have been a fantastic teaching aid.
 
Last edited:
C'est Moi said:
I have long expected means testing for Social Security.
Click to expand...
Isn't Soc. Sec. already means tested? Those that paid in get more pay in less get less. Otherwise IMO equalizing the amount distributed would amount to theft by the government.

This is kind of getting away from the reality that the stimulus will have an impact on the ability to pay debt thus increasing the deficit which is an obligation. How politicians deal with that doesn't leave much choice IMO but to increase taxes & reduce Soc. Sec. benefits.
 
I am retired, as most of us here. Yes, my income is fixed. But I do not really need the extra money. Because, in the long run, we the people are paying.
If there is that much disposable money, it should go to people in real need. Like higher SNAP benefit payments. I have a friend who is physically disabled. and unable to work at all. She gets $20 a month in SNAP. She has other expenses like we all do, rent, gas for her adapted van, clothing etc
 
jerry old said:
The discrepancies regarding finances within bureaucracies
can only make you moan.
Awfulazing does not help.

Moaning don't help, can it get any worser?
There is not an endless supply of money.
Click to expand...
Oh, they can just go print more money to cover the SS deficit. Poof, it disappears. Just crank up the press!
 
jerry old said:
There is not an endless supply of money.
Click to expand...
Not endless supply? Haven't the guvmint been printing money from thin air for years now?

AFAIK, what backs up the USD is the public's faith that the guvmint will not print TOO MUCH plus the confidence that it'll be accepted as legal tender everywhere.

How much is too much? Have we reached a cap?
 
Marie5656 said:
I am retired, as most of us here. Yes, my income is fixed. But I do not really need the extra money. Because, in the long run, we the people are paying.
If there is that much disposable money, it should go to people in real need. Like higher SNAP benefit payments. I have a friend who is physically disabled. and unable to work at all. She gets $20 a month in SNAP. She has other expenses like we all do, rent, gas for her adapted van, clothing etc
Click to expand...
I know this from family experience. If you are fully disabled you are entitled to Social Security Disability Income (SSDI). It's not a vast amount (maybe $800 or so per month) but it's more than $20.

If there are no other income sources, your friend should be entitled to housing subsidies, higher SNAP, and some other benefits in addition to SSDI.
The programs are there for people who need them. They are not enough IMHO but those who are eligible should get them.
 
JimBob1952 said:
I know this from family experience. If you are fully disabled you are entitled to Social Security Disability Income (SSDI). It's not a vast amount (maybe $800 or so per month) but it's more than $20.

If there are no other income sources, your friend should be entitled to housing subsidies, higher SNAP, and some other benefits in addition to SSDI.
The programs are there for people who need them. They are not enough IMHO but those who are eligible should get them.
Click to expand...
Yes, my friend gets SSDI. And she does get a rent suppliment. She manages her money well. SHe works with an agency for her staffing (24 hours) which is covered by Medicaid. Her brother is the registered owner of her van (as she does not drive herself, and cannot register in her name) but she pays him for the insurance, and registration. And she pay for the annual inspection. Sadly, she is someone who WISHES she was able to work...but cannot
 
JimBob1952 said:
I know this from family experience. If you are fully disabled you are entitled to Social Security Disability Income (SSDI). It's not a vast amount (maybe $800 or so per month) but it's more than $20.

If there are no other income sources, your friend should be entitled to housing subsidies, higher SNAP, and some other benefits in addition to SSDI.
The programs are there for people who need them. They are not enough IMHO but those who are eligible should get them.
Click to expand...
Well, I don’t remember all the ends and outs but both my boys are totally disabled. They got paid 500 a month, yup that’s it, and they received state medicaid. When I retired if I took my husband benefits, I would only get 500 a month.

I collect my own so 800 a month. When my husband started collecting social security the boys money increased to 800 a month and they got Medicare. They still get state medicaid and have to pay 3 dollars for a doctor visit. Which is stupid, “dignity in payment” crap, whoever thought of that is nuts. One of the boys has an IQ of 53. He doesn’t even understand the concept of money.

It took me three years to teach him if you put 2 quarters in a machine you could get a pop, then they raised the price. Sigh.
 
JimBob1952 said:
I know this from family experience. If you are fully disabled you are entitled to Social Security Disability Income (SSDI). It's not a vast amount (maybe $800 or so per month) but it's more than $20.

If there are no other income sources, your friend should be entitled to housing subsidies, higher SNAP, and some other benefits in addition to SSDI.
The programs are there for people who need them. They are not enough IMHO but those who are eligible should get them.
Click to expand...


SSDI is based on what a person has earned in jobs - it can range from a few hundred to a few thousand $$$. From personal experience you should know this. OTOH SSI is for people who have not been employed; benefit is usually about $700.
 
Knight said:
Isn't Soc. Sec. already means tested? Those that paid in get more pay in less get less. Otherwise IMO equalizing the amount distributed would amount to theft by the government.

This is kind of getting away from the reality that the stimulus will have an impact on the ability to pay debt thus increasing the deficit which is an obligation. How politicians deal with that doesn't leave much choice IMO but to increase taxes & reduce Soc. Sec. benefits.
Click to expand...
By means testing I mean that people who have larger amounts of pension, savings, income in retirement would get a reduction in benefits. Right now, it's the opposite... made more/get more. It will not surprise me to see legislation enacted that will reduce payments to higher-income individuals.
 
applecruncher said:
SSDI is based on what a person has earned in jobs - it can range from a few hundred to a few thousand $$$. From personal experience you should know this. OTOH SSI is for people who have not been employed; benefit is usually about $700.
Click to expand...
Why should I know this? Oh, I know you ASSumed I handle the finances for my sons or I personally receive SSDI, I don’t. One of my sons works, at a restaurant which is currently closed. I repeat, both the boys SSDI income is based on his fathers SSI. When they were much younger they could have received it based on our family income. We did not take it. Pride can be stupid.

It is very complicated, benefits. I do not get SSDI disability. I get regular SSI, so no personal experience. I could have gotten it, according to the rules, but did not consider myself disabled at the time. The benefits vary, I find there is no “usual”.

I asked my sister, she agreed. She worked for social security for 40 plus years. I’ll go with her answer.
 
applecruncher said:
SSDI is based on what a person has earned in jobs - it can range from a few hundred to a few thousand $$$. From personal experience you should know this. OTOH SSI is for people who have not been employed; benefit is usually about $700.
Click to expand...
Wrong. People always assume that. I worked for years but not to the age of retirement. I have S.S.I.
 
C'est Moi said:
By means testing I mean that people who have larger amounts of pension, savings, income in retirement would get a reduction in benefits. Right now, it's the opposite... made more/get more. It will not surprise me to see legislation enacted that will reduce payments to higher-income individuals.
Click to expand...
Giving the government the right to determine what you should receive based on savings, investments,pensions sounds great. Great at least until realizing that is a stage of society in Marxist theory transitional between capitalism and communism and distinguished by unequal distribution of goods and pay according to work done.

Or any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
 
applecruncher said:
SSDI is based on what a person has earned in jobs - it can range from a few hundred to a few thousand $$$. From personal experience you should know this. OTOH SSI is for people who have not been employed; benefit is usually about $700.
Click to expand...
You are right of course. My adopted daughter has "issues" and is on SSI, although she can and does work part-time.
 
Aneeda72 said:
Why should I know this? Oh, I know you ASSumed I handle the finances for my sons or I personally receive SSDI, I don’t. One of my sons works, at a restaurant which is currently closed. I repeat, both the boys SSDI income is based on his fathers SSI. When they were much younger they could have received it based on our family income. We did not take it. Pride can be stupid.

It is very complicated, benefits. I do not get SSDI disability. I get regular SSI, so no personal experience. I could have gotten it, according to the rules, but did not consider myself disabled at the time. The benefits vary, I find there is no “usual”.

I asked my sister, she agreed. She worked for social security for 40 plus years. I’ll go with her answer.
Click to expand...
By the way, you are taking offense at a post that was responding to my post. And he was right, I should have known the difference between SSDI and SSI.
 
Marie5656 said:
Yes, my friend gets SSDI. And she does get a rent suppliment. She manages her money well. SHe works with an agency for her staffing (24 hours) which is covered by Medicaid. Her brother is the registered owner of her van (as she does not drive herself, and cannot register in her name) but she pays him for the insurance, and registration. And she pay for the annual inspection. Sadly, she is someone who WISHES she was able to work...but cannot
Click to expand...
Very sad. I feel like we let down the truly needy while letting others take advantage of the system.
 
JimBob1952 said:
By the way, you are taking offense at a post that was responding to my post. And he was right, I should have known the difference between SSDI and SSI.
Click to expand...
What offends me is that anyone thinks I know something when I stated I didn’t really know anything. 🤣
 
Knight said:
Giving the government the right to determine what you should receive based on savings, investments,pensions sounds great. Great at least until realizing that is a stage of society in Marxist theory transitional between capitalism and communism and distinguished by unequal distribution of goods and pay according to work done.

Or any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
Click to expand...
Giving the government the right sounds great?? To whom? Apparently you are under the mistaken assumption that I believe that is a good idea. I'm simply saying that it won't surprise me when Congress puts forth such a proposal. Because removing incentive for the average American to work hard and save for retirement is right up their alley.
 

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