I was confused.. will they or will they not have a SS check??

[auntAgonist]

Bush said that Social Security was going to be bankrupt. Then he said that young people, when it' their time to collect SS, will not only have a SS check but also their private retirement savings account at retirement.

IF SS is bankrupt, .. how will the retiree get a check from SS? ? ?

[zann725]

1. There was a Broadway musical once about this..."Promises, Promises."

All "song and dance."

[yankeedem]

11. He gave the old Razzle Dazzle

Give 'em the old razzle dazzle
Razzle dazzle 'em
Give 'em act with lots of flash in it
And the reaction will be passionate
Give 'em the old hocus pocus
Bread and feather 'em
How can they see with sequins in their eyes?

What if your hinges all are rusting?
What if, in fact, you're just disgusting ?

Razzle dazzle 'em
And they'll never catch wise!
Eh Eh Eh Eh
Ah! Ah! Ah!
Give 'em the old razzle dazzle

Billy and Company:
Razzle dazzle 'em
Give 'em a show that's so splendiferous

Billy:
Row after row will grow vociferous

Billy and Company:
Give 'em the old flim flam flummox
Fool and fracture 'em

Billy:
How can they hear the truth above the roar?

Billy and Company:
Throw 'em a fake and a finagle
They'll never know you're just a bagel,

Billy:
Razzle dazzle 'em
And they'll beg you for more!

Billy and Company:
Ah! Ah! Ah! Ah!
Give 'em the old razzle dazzle
Razzle dazzle 'em
Back since the days of old Methuselah
Everyone loves the big bambooz-a-ler

Give 'em the old three ring circus
Stun and stagger 'em
When you're in trouble, go into your dance
Though you are stiffer than a girder
They let ya get away with a murder
Razzle dazzle 'em
And you've got a romance

Give 'em the old
Razzle dazzle

Billy:
Razzle dazzle 'em
Give 'em an act that's unassailable
They'll wait a year 'til your available!

Billy and Company:
Give 'em the old
Double whammy

Billy:
Daze and dizzy 'em
Show 'em the first rate sorcerer you are

Billy and Company:
Long as you keep 'em way off balance
How can they spot you got no talents?

Billy:
Razzle dazzle 'em

Company:
Razzle dazzle 'em

Billy:
Razzle dazzle 'em

Billy and Company:
And they'll make you a star!

[ramadoss]

2. future

That's 40 years in the future. Why worry about it now?

[SammyWinstonJack]

10. Why is bush** creating a crisis where none exists?

:eyes: Answer: He's out to steal other peoples' monies, something he and his evil family does consistently and are very good at.

[Liberal In Texas]

3. Read: He has apparently raided the SS fund, so therefore:

Something else must happen.

Over 55 will be OK, for awhile. Because they're going to re-fund it with Wall Street.

After that, you might as well go to Vegas.

[auntAgonist]

4. What bush said was a total contradiction..

at least the way I heard it.

here's exactly what he said.

http://www.npr.org/templates/story/story.php?storyId=4476370

"Here is why personal accounts are a better deal. Your money will grow, over time, at a greater rate than anything the current system can deliver, and your account will provide money for retirement over and above the check you will receive from Social Security."

[Liberal In Texas]

9. Smoke and mirrors.

The current system pays pretty well.

Much better than I have with my 401K. I have very few choices how that is and it will be invested in the future.

The stock market is a huge Las Vegas table, with guys standing around raking in "fees".

At this point, I am now trying to figure out how to put this money into euros before the bottom falls out of the US market.

Good luck to all of us. Spin the wheel.

(Hmmmm, crash of '29...?)

[TahitiNut]

5. First off, the Social Security system CANNOT go bankrupt.

It's a legal impossibility. It has no creditors. Even if the term 'bankrupt' is interpreted in the loosest possible way, it's an outright LIE. If nothing is done and the Trustees' Report's "Intermediate" projections are accepted, then retirees will continue to receive over 70% of their scheduled OASI benefits in 2042 and beyond.

There are two facts which haven't been adequately mentioned in the media.

The first one is that the "Intermediate" assumptions regarding employment, working class wages, birth rate, life expectancy of those in their working years, life expectancy of those in their retirement years, and the OASDI wage base are pessimistic when compared to each and every one of those factors over the last 50 years. In an alternative set of assumptions, more optimistic than necessary but in line with the last 50 years, the OASI portion of Social Security is solvent and healthy beyond the next 100 years!

The second fact is that the $2-3 trillion that the abominable 'piratization' scheme would cost in the next 10 years would make the Social Security System solvent beyond the next 100 years even under the somewhat pessimistic Trustees assumptions.

In other words, the cost to all taxpayers of the scheme being proposed is greater than the cost to overcome the pessimistic projections ... and the proposed scheme doesn't accomplish anything close to what the current Social Security system does in benefits.

It's a fucking con game!

[auntAgonist]

7. thanks for that.

You make some very valid points. I KNOW it's a con game, all smoke and mirrors really.

I just have NOT heard anyone pick up on that contradiction.


regards
auntAgonist.

ps. also in MI.

[FrenchieCat]

6. Halliburton will send you a check instead......

coz they've got the money.....our money!

[ZootSuitGringo]

8. Halliburton ain't sending anybody a tin red dime.....

today or ever.

[cattleman22]

12. Think about bankruptcy for an individual.

Normally a bankrupt individual can pay a portion of the bill, maybe they can pay $0.50 for every $1.00 owed. That is what will happen when SS goes bankrupt.