CBO: Social Security Trust Fund Solvent Through 2039, better shape than thought

http://thinkprogress.org/economy/2011/08/05/289201/cbo-social-security-trust-fund-solvent-through-2039/

A new report by the Congressional Budget Office (CBO) reveals that the Social Security trust fund is actually in better shape than previously thought. The CBO had previously projected that the popular entitlement program was solvent until 2037. CBO now projects the trust fund won’t run out until 2039. In the ongoing battle over deficit reduction, Republicans have insisted on deep cuts to Social Security,
even though the program doesn’t contribute to the deficit.

http://www.cbo.gov/doc.cfm?index=12376
By 2035, there will be 1.9 workers for each Social Security beneficiary, down from 4.9 workers per beneficiary in 1960. Read on for even more of CBO's long-term projections for Social Security.


CBO's 2010 Long-Term Projections for Social Security: Additional Information
http://www.cbo.gov/doc.cfm?index=11943


The real debate about Social Security is not one about finances.
Bernie Sanders
http://sanders.senate.gov/newsroom/news/?id=09633ee8-a8ad-4b4d-9b0c-5249f2f0cdfa

(snip)
There has been a lot of misinformation and disinformation out there. I hear from some of my friends on the Republican side that Social Security is going bankrupt; it is not going to be there for our kids. That is absolutely not true. Social Security today has a $2.6 trillion surplus. Social Security can pay out every benefit owed to every eligible American, if we do not start diverting funds, for the next 29 years, at which point it pays out about 78 percent of benefits. So our challenge in 29 years is to fill that 22-percent gap. That it is. Can we do it? Sure we can.

note: The theft of SS funds has been ongoing since President Johnson took the fund out of trust and put it into the general fund to help finance the Viet Nam War. The Bush2 Administration used SS funds to hide the loss of revenue from his tax cuts the upper 3%; redesignating these stolen funds as “revenues” to hide the theft....


The intent of the 1983 legislation was to generate large Social Security surpluses for the next 30 years that were supposed to be saved and invested, in order to build up a large reserve in the trust fund that could later be drawn down to pay benefits to the baby boomers. The 1983 payroll tax hike has generated more than $2.5 trillion that is supposed to be in the trust fund. If the trust fund actually held this amount in real assets, full Social Security benefits could be paid until at least 2037 without any changes. Unfortunately, none of the surplus revenue was saved or invested in anything. It was all spent, by the government, on wars and other government programs without making any provisions for repaying the money.
http://ppjg.wordpress.com/2010/07/16/social-security-money-stolen-by-government/

"We fought hard for those thirty years of low taxes...we can't afford to pay it back. Besides the poor just spend all that government money they get. They don't invest it like we do."

And sadly enough, they are life long Democrats.

"Vee vill find der vay to get our greedy clutches on your money. Vee Vill, in the end, get it alllllll. Bwaaaaa ha ha ha ha ha. Sneer."

- Republicons (R)

as outlined in the Trustees low cost scenario, which is a very optimistic scenario, it never the less outlines how job creation and wage growth can play an import role in SS solvency.

http://journals.democraticunderground.com/FogerRox/54

At current levels of spending and contributions, the defense budget busts this country six ways from Sunday. So, which program gets all the scrutiny from the mental midgets in Congress?

obama and his crew knew this but they caved.

to concede the fact that SS was not part of deficit economics, but that it was his political choice to include it in his discussion policy, anyway.

Now who told him that was a good political idea?

What SS liars would rather you didn't know.