FBN’s Gerri Willis reports Medicare funds will run out in 11 years and Social Security has only 17 years until insolvency.
When will Medicare, Social Security trust funds run dry?
Everything Medicare from around the web.
Remember when George Bush jr stole it to fund his WAR???? One Trillion dollars!!! And why does Social Security give money to those who did not pay into it?????
Obuma robbed the funds too, not just Bush. How about we end fraud with people collecting SSN# that CAN work and scammed the money? Probably a good 25% of SSN disability is FRAUD.
“I WONDER HOW MUCH MONEY WAS STOLEN OUT OF IT SINCE IT STARTED”
all of it … there is no trust fund. what isn’t paid out to those currently receiving SS is taken by the government & added to the general funds & replaced by IOUs (treasury bonds), when those IOUs come due, YOU are taxed to pay YOU back …. SS is worse than a Ponzi scheme, it’s a Ponzi scheme funded by a shell game …
Look People Why should Oath taker public servants make more money than We The People? The debt is all because We the People allowed Our oath taker public servant create laws , statutes, any policies without OUR CONSENT!! Time is Now to show them WHO’S the BOSS!!!
Its at 3 trillion..15% of the national debt.. obama increased it 1.7 trillion..
Remove the maximum withdrawal amount on income. Oh wait, that would make the rich pay a fair share.
the rich already pay a fair share, they pay the maximum & receive the maximum just like (most of) the rest of us.
You really don;t understand. The SS amount that is taken out of anyone’s paycheck is capped at about $1800 per year. A millionaire pays as much as someone making $100k per year. Please get a clue.
“The SS amount that is taken out of anyone’s paycheck is capped at about $1800 per year” & the MAX you can draw from SS at 62 is about $2,153 regardless of weather your rich or just made the cap every year. so what do you believe the “rich” fair share should be? I have a clue what I don’t have is a socialist mentality.
Dollar collapse, bonds collapse, economic collapse, ALL will wipe out all pensions, 401k’s or actually called, unfunded liabilities. over $200 trillion of it.
to put it into perspective the national debt is $20 trillion, $61,000 per citizen, $166,000 per taxpayer …. that’s what we already spent. if we want those unfunded liabilities $887,000 per taxpayer ….
the national debt clock has the unfunded liabilities at $106 trillion but regardless, Its unaffordable even at the lower figure.
What’s the big deal? The Fed can simply print more money under QE number 567. and fund the program for another year. And pass on the debt to the Chinese.
Soc Sec and Medicare trusts ran out of money a long time ago. What we’ve been doing for decades is merely putting money in the accounts out of taxes collected, then promptly spending it. THERE IS NO TRUST FUND. And taxes will no longer be capable of paying for the unfunded liabilities in less than a decade.
Michael Corbin thats not true as of 2011 there was 1.2 trillion dollars of excess in Social Security….. Google it.
There are no “dollars” of excess in Social Security. the excess dollars are invested into Treasury bonds and other Treasury securities & the dollars are spent in the general fund. the government takes those dollars & gives SS an IOU (Treasury bonds).
when those bonds mature the government has to get the money from either taxes or the printing press. if they get it through taxes then YOU are paying YOU back (assuming you are a taxpayer), if they get if from the printing press then YOU are paying for it through the devaluation of the money (inflation)
if you think those Treasury bonds are secure? the US owes $107 trillion in unfunded liabilities, that’s $887,000 per taxpayer ….
The Supreme Court ruled in case on the existence of the SS Trust fund back in 1939 and found that their is NO trust fund and fund go in and out of the General Fund. That’s why it takes 40% of the US budget to fund it on a yearly basis.
Welfare is the most abused system, and is the system that is the easiest for people to get off of through jobs. Only the crippled or mentally disabled really need welfare.