Are you really this dim? Unless those who provided the projected numbers are actually clairvoyant, how would they know what the economy, tax collected revenues, or what obstructionist republicans’ impact on SS will be in 2013?
They. Cannot. Read. The. Future.

According to the best economic estimates, SS “would become exhausted between 2036 and 2041″ [without some corrective measures] – your claim in your previous post, claimed there was no money left in SS – that was FALSE as my link demonstrated.

Can you predict the economic future, or the impact of the unemployment on FICA ? No? Well that was the point of their words: “intermediate set of economic and demographic assumptions”

All the other smoke and mirrors, jibber jabber that you went on and on about, are not worth the time answering… Your very juvenile name calling “sheeple” – well, it sounds incredibly stupid, however, it is far better than my having to think you’re a dim bulb, no?

Warren, Leon rejects your reality and instead substitutes his own alternative reality.

This has been explained repeatedly Leon, if you don’t get it this time you either can’t or won’t get it. What you said above is only true when demand matches or exceeds supply. But we’ve been in a huge recession, with DEFLATIONARY effects. That means supply capacity was far greater than demand, after the bubble burst that had created artificial (therefore unsustainable) levels of demand. So printing money, rather than cheapening it as in inflation, has been bolstering it during deflation.

Whereas the goal in inflationary times is to tighten the money supply until consumption (demand) comes down to match capacity (supply), the goal in deflationary times is to create more liquidity until demand rises to match supply. Done judiciously, it will mean that we emerge with an economy at real levels of productivity and consumption that are more aligned to each other. In the case of the U.S. economy, it should get us to a point where we are restored to pre-recession levels, but with asset values that are economically sound instead of the unjustified asset valuations of before the crash. At that point the deflated dollar’s value will be restored, not inflated.

That’s the truth, and not to hard for average minds to understand. It may not suit the needs of dittoheads, but no one ever said dittoheads care about the truth.

Comment by Leon — January 14, 2013 @ 7:34 pm

You are right about blackjack but I would not equate what wall street does to playing blackjack. Just take as look back to 2000 to 2008.

Comment by Hillary — January 14, 2013 @ 6:02 pm

It also helps to think Hillary. Your link does not detail what the “intermediate set of economic and demographic assumptions” assume.
I would venture a guess, however, that they include a funds earning rate of 5 to 7 percent and do not include the last two years of reduced inflow of the 2 percent SS tax reduction the expiration of which is causing much lament. SS inflows were short of outflows by about $45 billion last year.
But…it gets worse…BBB (Barack’s Buddy Bernanke) is printing $80 billion a month in currency (called QE III) to “bolster” the economy. Every $ he prints reduces the value of the $s in your wallet, paycheck or
SS check. When inflation really starts to manifest itself (likely this summer due to the effect of drought on the food supplies) everyone on SS will be demanding mo, mo, mo and the politicians will print more $ and give it to them increasing the outflows which already exceed the inflows.

Hopefully, you will have obtained a hardcopy of the actuary report to supplement what you will receive from SS. True comfort may be found in it
as toilet paper may become unaffordable and you will either have a ready supply or an item you can barter for food.

BTW…what are the earnings rate on your invested funds…probably close to 10% of what the government report assumes for your SS funds in trust.

News reports today indicate that the Obama administration will not have a budget proposal ready by the March deadline. . .further reinforcing the need to raise the debt ceiling which would be the responsible action per Mr. Obama. Sheeple Hillary. . .keep believing.

Leon it is usually helpful to have information before making wild claims like, “no money left in the program” – this is the FACT about the solvency of Social Security.

“The last 5 Trustees Reports have indicated that Social Security’s Old-Age, Survivors, and Disability Insurance (OASDI) Trust Funds would become exhausted between 2036 and 2041 under the intermediate set of economic and demographic assumptions provided in each report”
http://www.ssa.gov/OACT/solvency/index.html

Comment by wayne goodman — January 14, 2013 @ 4:06 pm

Very astute Wayne. . .however. . .one additional pertinent point. . .there
is no money left in the program. . .it has all been spent. Otherwise, you
got it. Congrats.