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Re: Social Security trust fund projected to run dry by 2034 

By: ribit in POPE IV | Recommend this post (1)
Fri, 24 Jun 16 5:02 AM | 57 view(s)
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Msg. 08012 of 47202
(This msg. is a reply to 07970 by Decomposed)

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...another reason it won't work is because there are no savings. We are not paying for these programs AS WE GO. We are doing them with borrowed money. Any reduction in spending only results in a decrease in borrowing. There are no savings.




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Liberals are like a "Slinky". Totally useless, but somehow ya can't help but smile when you see one tumble down a flight of stairs!




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The above is a reply to the following message:
Re: Social Security trust fund projected to run dry by 2034
By: Decomposed
in POPE IV
Thu, 23 Jun 16 8:55 PM
Msg. 07970 of 47202

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Re: ”HOW you say? Simple. Shut down several of the worthless, expensive, unneeded Federal agencies“

Won't work. There's not nearly enough money.

While the entire U.S. GDP amounts to less than $17 trillion, the present value of future obligations is FAR higher. I've read figures ranging from $62 trillion to $225 trillion, and I'm inclined to go with the latter.

Most of those obligations are Medicare and Social Security. So, consider that Social Security has to come up with something on the order of $100 trillion, which is more than $300,000 per American including babies and the elderly, and the true scope of the Social Security disaster becomes clear.

The Medicare obligations are even worse.

There is NO SAVING THIS HOUSE OF CARDS. It's coming down. Protect yourself while you still can.
 


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