I just read that Social Security benefits for millions of Americans could be put on hold in as few as 10 days if the nation's debt limit is not increased, the Obama administration said today. Read a few days ago that this would not effect Social Security, doesn't anyone know what's going on? I can't even imagine how all the people that rely on these checks to get by are going to feel. To some, it's the only thing they have, no retirement, no 401K, nothing, just Social Security.
How many on Social Security?
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m657
Member
I've read in semi=reliable sources, that SS$ is one of those things on auto-pilot regardless.
Haven't confirmed for absolute sure. Will be able to tell in a few days.....
Haven't confirmed for absolute sure. Will be able to tell in a few days.....
Moonman
Member
Absolutely NEVER GONNA HAPPEN.
This whole episode is just a JOKE the WHOLE Washington DC crowd is P.O. the American public with.
This whole episode is just a JOKE the WHOLE Washington DC crowd is P.O. the American public with.
We're always hearing about how Social Security is going to run out of money.
How come we never hear about Welfare running out of money?
Bob
(note to Mods: Nothing political intended here. Simply looking for financial advice...I may need to consider a shift from SS to welfare.
)
How come we never hear about Welfare running out of money?
Bob
(note to Mods: Nothing political intended here. Simply looking for financial advice...I may need to consider a shift from SS to welfare.
)
skeetshooter
Member
I do not believe SS will stop paying any time soon.
Oh I just love my SS,,started collecting when I was 62 and now 16 years later I have collected a bunch. Of course I worked for 41 years.
Oh I just love my SS,,started collecting when I was 62 and now 16 years later I have collected a bunch. Of course I worked for 41 years.
LVSteve
Member
Here is what was said last time. Debt ceiling: Is Social Security at risk? - Jan. 16, 2013
Looks like it is all in the hands of the Treasury, NOT your elected (cough) representatives.
Looks like it is all in the hands of the Treasury, NOT your elected (cough) representatives.
SHOOT.45
Member
Well I wonder if it'll be around 10 month's from now when I hit the Big 65. Hard to believe I'll be 65 and also how our great country got to be so screwed up!!!
bearfoot
US Veteran
1st, last weeki read that SS $ would be ok. then sunday morning while in the office i read in the paper that SS $ is on the LIST!!! i pulled the toilet paper so hard the stand fell on the floor. glad the paper didn't split. just had surgery not long ago and i didn't have the extended grippers. i guess someone could say, i would have been in the office w/ out the necessary paperwork or tools at hand to finish the project. everyone have a good week. does anyone remember a song, AGAINST THE WIND!
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LVSteve
Member
vito
US Veteran
It's up to the President. Without the ability to borrow, Obama gets to prioritize the $250 billion that comes into the treasury each month against the $400 billion a month that now is spent. $30 billion covers interest on the debt. Then he decides where the rest goes which might or might not be Social Security commitments.
SW_shooter
Member
Segment on 60 minutes last night said that SSDI (Soc Sec Disabilty Ins) would run out of money. That affects and worrys me.
fat tom
Absent Comrade
Well,I can't say that it would surprise me. After all,I'm due to receive my first check on Novenber 12th.
f.t.
f.t.
I took mine at age 62. That was 20 years ago.If we could have kept Congress hands off it there would be enough for everyone.
Maddog 521
Member
I read that the Shutdown is only affecting 17% of what is actually being shutdown. They pick and choose what is in that 17%.
lonejacklarry
US Veteran
Here is one of the reasons that Social Security may run out of money and, of course, it is because of rampant fraud and abuse:
Widespread fraud reported in Social Security Administration's Disability Program | Fox News
Widespread fraud reported in Social Security Administration's Disability Program | Fox News
25elk
Member
"Against the Wind" I believe was sung by Eddie Rabbit and was the song my dearly departed sister said epitomized me. As for SS, I am one of the dummies who worked over 50 years in an industry with no pension, no retirement, and on two different occasions when I tried to "go straight" and try the 401K thing, management mysteriously lost all the contributions due to bad luck and poor investment strategy. So if SS is stopped I'm ******. All those fat squirrels on my property will keep me in fresh meat for a while anyway.
If you can believe anything you see/hear on TV........
Monthly Tax revenue is about 250 Billion.....about 3 Trillion per year
(Monthly debt service is about 25 billion)
Annual federal spending is about 4.2 Trillion/ year
It's the need to borrow the 1.2 Trillion/year tax short fall (vs annual spending)................. that requires the borrowing/sale of bonds.... which in turn increases the the National Debt.
Monthly Tax revenue is about 250 Billion.....about 3 Trillion per year
(Monthly debt service is about 25 billion)
Annual federal spending is about 4.2 Trillion/ year
It's the need to borrow the 1.2 Trillion/year tax short fall (vs annual spending)................. that requires the borrowing/sale of bonds.... which in turn increases the the National Debt.
How many on Social Security?
As of TODAY!!! ME!!!
As of TODAY!!! ME!!!
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