"Medicare, Social Security Funds Expiring Sooner, U.S. Says"-----BusinessWeek.

http://www.businessweek.com/news/2011-05-13/medicare-social-security-funds-expiring-sooner-u-s-says.html
While Medicare won’t have sufficient funds to pay full benefits starting in 2024, five years earlier than last year’s estimate, Social Security’s cash to pay full benefits runs short in 2036, a year sooner than the 2010 projection, the U.S. government said today in an annual report.

Both forecasts were affected by a slower-than-anticipated economic recovery, the government said. The estimates for funding add urgency to talks between Democrats and Republicans on ways to cut spending to reduce the U.S. budget deficit.

“Projected long-run program costs for both Medicare and Social Security are not sustainable under currently scheduled financing, and will require legislative corrections if disruptive consequences for beneficiaries and taxpayers are to be avoided,” according to the report summary.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

So the Big Lie has added "URGENT! URGENT!" to the scare tactic.

Those at the top of the economic heap would get larger maximum benefits, which would take away a bit of the good that their extra taxes would provide.

Here's a solid idea: NO limit on the employer's share. If a megabank wants to pay some idiot $10 million dollars a year to run the institution into the ground, then let them pay the employer's share on all ten mil. Doesn't raise the maximum benefit for the exec at all.

To receive and want to go on blithely through life not properly prepared then more power to you and yours.

For my part I tell people they need to save so they won't have as hard a time as the people who disregarded this possibility.

'Cause I'm 62 this Fall, and have no offspring. Not thinking about moi here.

Yes, the lousy employment picture (brought to you by the same administration that brought you recession-producing wars coupled with tax cuts by the very people who should be paying for those wars) shortens the forecasts for Medicare and Social Security, precisely as planned. Alan Simpson has been lurking around, telling anyone gullible enough to listen, that as the co-chairman of the Catfood Commission, he's in the best position to tell everyone just how tight their belts are going to have to get so as to save the wealthy from the unholy spectre of paying their own way.

So, what's it going to be, America? Are you willing to die younger and poorer so that Charlie Sheen and Paris Hilton aren't forced to pay an extra three cents in taxes on their "earnings" above $250,000 a year? And why the fuck not, you goddam greedheads?

us.

AND WORSE.

That is the reality of many Americans today. Those fortunate to even HAVE jobs.

Become unionized and gain collective bargaining rights so you can tell your employer to stick that 401K where the sun don't shine and negotiate for a defined benefit pension plan.

Same for your medical benefits. Don't depend on Medicare after you are retired either. Negotiate lifetime paid medical insurance that continues through your retirement.

I know this is not easy to do. Nothing worthwhile is. But if you need help just ask. I will do whatever I can do.

Don

how about they tax the very people that have benefited the most from the massive tax giveaways. If the trickle down had worked they'd have nothing to worry about.

In the lame duck Congress we had after the 2010 election, our Democratic elected officials voted not only to extend the Bush tax cuts for two more years, they voted to gut Social Security financing with their payroll tax partial holiday.

Do you really expect Repukes to do any better by us? I firmly expect them to call for an extension of the 2% cut in FICA taxes, and the President will not have a leg to stand on when it comes time to tell them, "no".

I think we have to look for alternative funding such as a transaction tax. If the employment picture really is a new normal we have to do something.

What did you think of my proposal at post #9, above?

Whose fault is this? Some person running a forklift on a dock , 12 hours-a-day at $8 an hour with no benefits?

Our Social Secutiy is gone because these MF'ers stole this money to pay for tax cuts for the rich, no-bid contracts for Haliburton and then gave Billions $$$ to private contractors in Iraq.

When will the American people call BS on this? STAND UP and say "Enough"?

At this rate.. never.

....this is all designed to drive the young into the wall street casinos for their generational fleecing and fucking....

....how can anyone predict that far ahead? Didn't we have a full bulging 'lock-box' ten years ago? Did any of these number-crunching pigs predict the infamous crash of 2008?

....bullshit baby, it's all bullshit....