Bad News for Social Security Benficiaries
Posted by Leisa Amorosa on Friday, December 16, 2011 Under: Destruction to the United States
When the going gets tough, Obama will take down the poor , aged and disabled.
At the same time, he sends millions to beautify mosques (yes, for the ones who are cutting heads off, chopping off arms and legs, imprisoning people for leaving Islam, and those who crash down our Twin Towers, taking +3,000 lives of US citizens).
DailyFinance.com by Chuck Saletta: Social Security is in dire financial straits, but that's nothing new for this long troubled program. Social Security spent 49 billion more in 2010 than it took in as tax collections. By the time 2011 ends, it expects to outspend collections by another 46 billion. At this rate, the program's much-touted "Trust Fund" is expected to be depleted by 2036; without that fund, benefits are expected to fall about three-quarters of current promised levels. As bad as that may sound, it's actually business as usual. To cover the massive obligations of the plan, tax rates have risen repeatedly over its history. What started as 2% of the first $3,000 of income (half paid by you, half paid by your employer), is now scheduled to be 12.4% of the first $110,100 of income in 2012. On top of that, the full retirement age is creeping up from 65 to 67, which effectively means younger workers will be paying more for a longer time to get their full benefits. Even with repeated efforts to shore up the program by raising taxes and cutting benefits, Social Security's collapse seems virtually inevitable.
Commentary: "Fat bureaucrats" could do much, much more to "heal the cancer" in Social Security and begin the restoration process. For one, you would think that President Obama would practice what he preaches about the "class disparities," come down off of his "high hog" and spend a few billion dollars less every day; but no, he and his wife spend lavishly constantly, without letting up. As the economic situation in America teeters on the verge of collapse, President Obama threatened to withhold Social Security and disabled Veterans' checks. At the same time, he sent 770 million dollars to the Middle East to remodel Muslim mosques (yes, the same kind of Muslims who flew planes into the World Trade Center and killed over 3,000 of us). I think just that 770 million would have been a good start for helping our elderly, many who are poor and suffering within the Social Security program. The countless of wasted billions spent by Obama and his wife is disgusting, all the while he keeps wasting billions on the maniacs who come here to kill us! If things get a bit shaky, the first things he attacks are the pitiful pensions for our elderly and disabled Veterans. With his new "Obamacare" and massive cuts to Medicaid, we are going to see the elderly in this country suffer and die without affordable benefits, if something doesn't change. If you decide to reelect this Muslim zealot another term, you may see the poor elderly US citizens in our fast-growing tent cities, that's if they don't just drop dead working before they're able to retire, since Social Security keeps raising the retirement age to the point of a person's average lifespan! President and Michelle Obama spent more money than all previous US presidents combined just during this one term. If you want more of the same, you are free to vote for him. "As a roaring lion and a raging bear, so is a wicked ruler over the poor people" Proverbs 28:15. "We do not wrestle against flesh and blood, but against principalities, against powers, and rulers of the darkness of this world, against spiritual wickedness in high places" Ephesians 6:12.
At the same time, he sends millions to beautify mosques (yes, for the ones who are cutting heads off, chopping off arms and legs, imprisoning people for leaving Islam, and those who crash down our Twin Towers, taking +3,000 lives of US citizens).
DailyFinance.com by Chuck Saletta: Social Security is in dire financial straits, but that's nothing new for this long troubled program. Social Security spent 49 billion more in 2010 than it took in as tax collections. By the time 2011 ends, it expects to outspend collections by another 46 billion. At this rate, the program's much-touted "Trust Fund" is expected to be depleted by 2036; without that fund, benefits are expected to fall about three-quarters of current promised levels. As bad as that may sound, it's actually business as usual. To cover the massive obligations of the plan, tax rates have risen repeatedly over its history. What started as 2% of the first $3,000 of income (half paid by you, half paid by your employer), is now scheduled to be 12.4% of the first $110,100 of income in 2012. On top of that, the full retirement age is creeping up from 65 to 67, which effectively means younger workers will be paying more for a longer time to get their full benefits. Even with repeated efforts to shore up the program by raising taxes and cutting benefits, Social Security's collapse seems virtually inevitable.
Commentary: "Fat bureaucrats" could do much, much more to "heal the cancer" in Social Security and begin the restoration process. For one, you would think that President Obama would practice what he preaches about the "class disparities," come down off of his "high hog" and spend a few billion dollars less every day; but no, he and his wife spend lavishly constantly, without letting up. As the economic situation in America teeters on the verge of collapse, President Obama threatened to withhold Social Security and disabled Veterans' checks. At the same time, he sent 770 million dollars to the Middle East to remodel Muslim mosques (yes, the same kind of Muslims who flew planes into the World Trade Center and killed over 3,000 of us). I think just that 770 million would have been a good start for helping our elderly, many who are poor and suffering within the Social Security program. The countless of wasted billions spent by Obama and his wife is disgusting, all the while he keeps wasting billions on the maniacs who come here to kill us! If things get a bit shaky, the first things he attacks are the pitiful pensions for our elderly and disabled Veterans. With his new "Obamacare" and massive cuts to Medicaid, we are going to see the elderly in this country suffer and die without affordable benefits, if something doesn't change. If you decide to reelect this Muslim zealot another term, you may see the poor elderly US citizens in our fast-growing tent cities, that's if they don't just drop dead working before they're able to retire, since Social Security keeps raising the retirement age to the point of a person's average lifespan! President and Michelle Obama spent more money than all previous US presidents combined just during this one term. If you want more of the same, you are free to vote for him. "As a roaring lion and a raging bear, so is a wicked ruler over the poor people" Proverbs 28:15. "We do not wrestle against flesh and blood, but against principalities, against powers, and rulers of the darkness of this world, against spiritual wickedness in high places" Ephesians 6:12.
In : Destruction to the United States
Tags: "problems with social security" "is social security bankrupt"
