Posted on Jul 30, 2017
Social Security benefits set to increase by largest amount in years
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Posted in these groups: 
Department of Veterans Affairs (VA)Social Security Administration
Department of Veterans Affairs (VA)Social Security Administration
Posted >1 y ago
Responses: 5
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I am now fifty. Since I was a very young officer and married, my wife and I have been investing as much as we could in various options to include IRA's and Roth IRS'a, Insurance for each other, and any other investment opportunity that was decent we could find. We both come from moderate to mild financial backgrounds and have seen our parents struggle at one time or another to pay bills and to raise us. We decided that we would take it in the shorts on the front end by making the sacrifices where we could so that when we finally retire at 65 or 67 we could retire and just enjoy life...we also have not figured SS into the equation...if it is still viable and still there when we are eligible, then bonus for us if not we will be ok. My only regret is that I didn't start when I first enlisted...that is five lost years but it sure was fun. Guess what...we didn't miss out on life now either...we still are able to do the things we want to do and have fun now along the route as well.
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Lt Col Scott Shuttleworth
Sgt Wayne Wood - Just wish kids these days would listen. My daughter has and she hasn't fully entered the workforce just yet fully but she saves and puts away so when the time comes she can light the candle on investments and have a good head start.
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One of the greatest Ponzi schemes every perpetrated against an unknowing population of supporters (voters).
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SSgt Christopher Brose
That's EXACTLY what it is! It's the single biggest Ponzi scheme in American history, certainly, though not as big as communism in the old Soviet Union or China.
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SPC Jan Allbright, M.Sc., R.S.
Utter rubbish! The Social Security Trust Fund (Treasury Bills, Bonds and Notes) is currently at $2.8 Trillion with a $35 Billion increase over last year.
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LTC (Join to see)
SPC Jan Allbright, M.Sc., R.S. - Please send the link where you found that. I also drink small batch bourbon so we can have a nice bet and then you can ship a bottle to my house.
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SPC Jan Allbright, M.Sc., R.S.
LTC (Join to see) - The status of the Social Security Trust Fund is a well publicized data set. Try https://www.ssa.gov/oact/trsum/
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Huzzah! Too bad the Democrats raided the Trust Fund and the program won't be sustainable unless the economy really picks up. Oh yeah, it has been in the past 6 months, hasn't it?
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CPT Jack Durish
SPC Jan Allbright, M.Sc., R.S. - Well as someone who worked for Social Security, let me assure you that "raiding the Trust Fund" is no BS. Yes, they are built from separate taxes. However, the feds have "raided" them by exchanging treasury bonds for the cash in them. They did this to fund programs that they created without adequate funding from the general taxes. On paper, the Trust Funds are fully vested, but the feds could never redeem the treasury bonds. There simply isn't enough money in the world to redeem those things. Now maybe you're willing to accept worthless paper in lieu of your monthly SS check. I'm not...
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SPC Jan Allbright, M.Sc., R.S.
CPT Jack Durish - Again .. Utter Rubbish! Excess SSTF funds are ALWAYS converted to Treasury Securities. What do you want? Keep them in cash so inflation will wipe it out? Set up a Goldman/Saks account so a Bankster can empty it out in the next recession? Not enough money in the world? Are you serious? The entire Trust Fund is valued at $2.8 Trillion. The GDP of US is $19.4 Trillion! China is $23 Trillion! The Gross World Product is on the order of $107 Trillion. As to "worthless paper", you accept this from your boss every paycheck, so get a grip. So it's back to you .. exactly what programs did those nasty Democrats create that " they created without adequate funding from the general taxes"? In case you haven't been paying attention we have been in deficit spending since the day the US was founded!
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CPT Jack Durish
SPC Jan Allbright, M.Sc., R.S. - Well, you go right on believing that the govt can pay its debts. And you go right on believing that the US spending has been in a deficit since the day the US was founded. And you go right on believing that all govt programs have been fully funded from their inception. God, I wish I could join you in fantasyland. It must be a wonderful place. As they say, "Ignorance is bliss"
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SPC Jan Allbright, M.Sc., R.S.
CPT Jack Durish - "Even before the United States was founded in 1776, debt existed. Paying for the American Revolutionary War (1775 - 1783) was the start of the country's debt. Some of the founding fathers formed a group and borrowed money from France and the Netherlands to pay for the war.
To manage the new country's money, the Department of Finance was created in 1781. The next year, Government debt was reported to the public for the first time. The U.S. debt in 1783 totaled $43 million. " https://www.treasurydirect.gov/kids/history/history.htm
Now looking at the value of the dollar .. that $43 million in 1783 is about $926 million in current dollars .. so I would say the country started out in debt.
You can believe whatever you want .. but please begin your statements with "In my opinion" ....
To manage the new country's money, the Department of Finance was created in 1781. The next year, Government debt was reported to the public for the first time. The U.S. debt in 1783 totaled $43 million. " https://www.treasurydirect.gov/kids/history/history.htm
Now looking at the value of the dollar .. that $43 million in 1783 is about $926 million in current dollars .. so I would say the country started out in debt.
You can believe whatever you want .. but please begin your statements with "In my opinion" ....
TreasuryDirect KIDS - The History of U.S. Public Debt - The Beginning of U.S. Debt
Even before the United States was founded in 1776, debt existed. Paying for the American Revolutionary War (1775 - 1783) was the start of the country's debt. Some of the founding fathers formed a group and borrowed money from France and the Netherlands to pay for the war.
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