Does this Social Security statement inspire confidence in our system?

2015-12-13T12:23:37-05:00

While reviewing my Social Security statement online I came across this statement (in bold print). What do RallyPoint members think about this statement?
"* Your estimated benefits are based on current law. Congress has made changes to the law in the past and can do so at any time. The law governing benefit amounts may change because, by 2033, the payroll taxes collected will be enough to pay only about 77 percent of scheduled benefits."

Response by Capt Seid Waddell made Dec 13 at 2015 2:51 PM

2015-12-13T14:51:57-05:00

One of the advantages that comes with age is not having to live to see the crash that we can all see coming - as a mathematical certainty.

Response by PO3 Brad Phlipot made Dec 13 at 2015 4:23 PM

2015-12-13T16:23:23-05:00

Anytime you ask the Government to manage money you are screwed. Social Security was never designed to be a retirement it was a "Widows Pension" originally. The fact that now 1 and 6 are collecting there is no way this system can stay viable. Contributions should no longer be mandatory yet there should be a requirement that you invest on your own.

Response by CPT Jack Durish made Dec 13 at 2015 4:25 PM

2015-12-13T16:25:56-05:00

What is truly fascinating is the fact that those most enamored with big government (the nanny state) is that they continue to turn to it for solutions to all of their problems, to hand over more power in exchange for less liberty, and wait for rescue despite countless examples of government inability to deliver on its promises.

Response by MAJ Ken Landgren made Dec 16 at 2015 5:11 PM

2015-12-16T17:11:50-05:00

The treasury issues government bonds and borrows cash. SS has an asset, government bonds. The problem is it keeps borrowing more each year and writing more IOUs with the bonds.