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+--- Thread: How much in unfunded liabilities in there for Social Security and Medicare? (/thread-7795.html)
How much in unfunded liabilities in there for Social Security and Medicare? - Mysterion - 10-12-2012 11:12 PM
Would retirement and health care be better left to the free market?
Oh I found the answer to the first question... it's $110 trilllion.
- END THE FED - 10-12-2012 11:20 PM
It's amazing that no politician has the guts to even mention that disturbing fact, let alone promise to do something about it.
- FOOD FIGHT! - 10-12-2012 11:20 PM
There are about 6 years starting in 2039 where there will only be enough money coming in to pay 70% of benefits if we do nothing. From there SS runs a surplus into eternity and cuts can be made to Payroll taxes according to the CBO. Increasing SS 1.3% would provide enough to pay full benefits over that 6 year period.
Businesses know that when they hire young people they do not care about retirement and they could get out of paying social security and not give it to the employees either if they believe that there is not enough Social Security for them.
They paid a lot of money to get you to believe that SS is in grave danger and you will not get any.
Yea show me that 110 trillion link at the CBO
- Shin Chan - 10-12-2012 11:20 PM
Of course they would be. Free market competition is the only way to reduce prices, which is exactly the problem we have.
Is it really a coincidence that the more government gets involved in an industry, the more expensive and screwed up it gets?
The only way to pay for this stuff is to follow the Ron Paul plan, reduce military spending and use it to pay off debt + wean dependent leeches off the welfare system over time. It's the only option left other than a currency crisis as the Fed prints more for the gov to borrow (they just started again!)
- flower - 10-12-2012 11:20 PM
So if we had no Medicare, the private insurance companies would lower their rates for seniors and disabled people?