Social Security retirees face automatic cut in 9 years(npr.org)
npr.org
Social Security retirees face automatic cut in 9 years
https://www.npr.org/2024/05/06/1249406440/social-security-medicare-congress-fix-boomers-benefits
11 comments
Crazy how the money printers stop working when it comes to SS. I'm sure as hell if Boeing or Raytheon needed cash the money printers would magically start working again. Sorry gramps, no quantitative easing for you!
SS+Medicare budget is almost three times the size of the entire DoD budget.
Yes, but keep in mind that both are funded with specific taxes. We aren't just taking money from the general fund and choosing to support retirees. It's meant to be a "pay while working" "receive in retirement" kind of system. You can argue about the merits of that vs. a 401k or whatever, but comparing these programs to the DoD budget is apples and oranges.
>funded with specific taxes. We aren't just taking money from the general fund
I just learned recently that in fact Medicare (Part B at least) does in fact receive significant amounts from the general fund, not just the Medicare HI fund which holds payroll tax money.
I just learned recently that in fact Medicare (Part B at least) does in fact receive significant amounts from the general fund, not just the Medicare HI fund which holds payroll tax money.
One Social Security runs out of money the first option on the table will probably be to top it up from the general fund though. And once that's been turned on it will never be turned off. (MMT but only for old people.)
Old people vote, no politician wants to be voted (or revolutionized) out of office, the money will come...
When Covid lockdowns started, both sides quickly agreed to print money to bailout the whole population (or as the deranged called it, to induce inflation and transfer money to corporations and the wealthy).
When Covid lockdowns started, both sides quickly agreed to print money to bailout the whole population (or as the deranged called it, to induce inflation and transfer money to corporations and the wealthy).
Who is going to go to revolution over social security? A lot has happened including serious "unrest" on both the left and the right and the respective movements have not seen any of their asks implemented despite the spectacles. If you think they were you live in a bubble.
[deleted]
Give it time; they only turn on the money printer at the last moment. They don't want to appear too eager.
It's strange how retirees facing cuts is the headline but somehow one of the solutions is "benefit cuts to retirees"...so somehow and automatic cut is a tragedy but a legislated cut is good.
"If they didn't act, not only would they all be voted out of office," she says, "they couldn't even remain in Washington. They'd be chased down the street."
Statements like this place entirely too much faith in norms-based governance and candidates' ability to experience shame. None of these outcomes is guaranteed.
Statements like this place entirely too much faith in norms-based governance and candidates' ability to experience shame. None of these outcomes is guaranteed.