Day 4 SSD blogathon: SS is not going broke by 2033, stop saying it Dems

[FogerRox]

Last edited Thu Apr 4, 2013, 11:30 PM - Edit history (2)

Each year the Social Security Trustees issue a report that contains 4 scenarios, Intermediate Cost, High Cost, Low Cost, and a Stochastic Model. In 1998 Economist Dean Baker wrote an article entitled Nine Misconceptions About Social Security. In the article Dean writes:

Social Security projections are based on extremely pessimistic economic assumptions: that growth will average just 1.8 percent over the next twenty years, a lower rate than in any comparable period in U.S. history; that growth will slow even further in later years, until the rate is less than half the 2.6 percent of the past twenty years; that there will be no increase in immigration even when the economy experiences a labor shortage because of the retirement of the Baby Boom generation; and that this labor shortage will not lead to a rapid growth in wages. Both possibilities excluded in these projections—increased immigration and rapid wage growth—would increase the fund's revenues. These projections are genuinely a worst-case scenario.

When discussing the projections of the SS Trustees one should understand that the Office of the Chief Actuary publishes the SS Trustees report, runs and directs "a program of actuarial estimates and analyses relating to SSA-administered retirement, survivors and disability insurance programs and to proposed changes in those programs".

Actuaries have a responsibility to provide "conservative statutory accounting reporting provides a reasonable level of assurance that an insurer’s resources are adequate to meet its policyholder obligations at all times", according to the US Insurance Financial Solvency Core Principle 4, of theNational Association of Insurance Commissioners.

6 Political Appointees are the SS Trustees: Executive Summary is a political document.

The Political appointees are the ones who issue the Executive Summary, they have little to do with the actual Actuaries and Economists who assemble the projections, charts and tables. The Executive Summary is a purely political document, and that's all the average person hears about. The Social Security Trust Fund will be depleted by 2030 and can only pay 76% of benefits. OMG the sky will fall in 2033 ! ! !

Hey you with the sourpuss face, this party is just getting started ! !



More:

http://www.dailykos.com/story/2013/03/28/1197514/-Day-4-SSD-blogathon-SS-is-not-going-broke-by-2033-stop-saying-it-Dems

EDIT:



EDIT:

Thank You DU

[JDPriestly]

1. Thank you.

Another lie brought to you by the same types who brought you the War in Iraq.

Thank you for the excellent explanation of the flaws in the math behind the dire projections regarding Social Security.

[FogerRox]

17. High praise, thank you JD. #noSScuts Please sign and share, & share, & share

https://petitions.whitehouse.gov/petition/tell-gop-and-nation-no-cuts-social-security-benefits-no-chained-cpi-no-superlative-cpi-will-be/zKtxRL3K

[drm604]

2. K&R

[HiPointDem]

3. kr. but i think you should post in gd too. it gets more eyes there.

[FogerRox]

13. I know, but I took the chance this might take off, and it has.

[Why Syzygy]

4. k/r n/t

[msongs]

5. you will notice the head of the party is pretty silent on the issue of defending SS nt

[FogerRox]

16. Supposedly Obama is going to propose Chained CPI April 10th

In his budget proposal. We need to ramp it up. You can help by signing and sharing, and sharing, and sharing.

https://petitions.whitehouse.gov/petition/tell-gop-and-nation-no-cuts-social-security-benefits-no-chained-cpi-no-superlative-cpi-will-be/zKtxRL3K

[Melissa G]

23. Thanks, Foger!

Petition signed.
It will be a dark day if Obama proposes a SS cut . I hope he doesn't.

[FogerRox]

24. May finally split the Dem Party

Unconscionable.

Plus chained CPI is a stealth income tax increase, in 8 years it totally screws working Americans, accelerating income disparity - thats already as bad as 1929.

http://www.dailykos.com/story/2013/03/26/1197150/-Chained-CPI-is-a-stealth-tax-increase

[Melissa G]

29. It is Unconscionable.

Thanks for the link and your excellent research. Great to see you again!

[woo me with science]

6. K&R

[WillyT]

7. K & R !!!

[FogerRox]

15. WillyT good to see you here. Thanks.

[idwiyo]

8. K&R

[deutsey]

9. k&r

[FogerRox]

22. Thanks

[Oilwellian]

10. Petition and Letter signed

Please everyone, do the same and go sign the petition and letter!

White House Letter

White House Petition

[FogerRox]

12. Thanks

[on point]

11. Plus any problems it does have are EASY to fix!!

[FogerRox]

14. creating 20 million jobs and raising the min wage would see SS thru 2090

[Lifelong Protester]

18. Has your posting been the "Picture of the Day?"

It ought to be. It defines a 'fix', if one is needed, in the best possible way.

[FogerRox]

19. thank you. I've read every SS Trustees report since 2005

and looked at parts of most going back to 1997. What I learned was job creation, wage growth are 2 large order effects on SSTF revenues.

SS as we know it today is not designed to survive 20+ years of recession. job creation and raising the min wage are the simplest but yet have the farthest impact and reach of any so called fix.

[limpyhobbler]

20. k/r

[FogerRox]

21. Thanks

[Liberal_Dog]

25. K & R

[FogerRox]

26. Thanks you Liberal_Dog.

[Nite Owl]

27. Does he care?

I've signed every petition, written emails, made phone calls, tweeted. I'm sure most of us have but I really don't think he cares about us one bit. He doesn't need to answer to us and those he does need to answer to want SS and Medicare destroyed. They want the $$$$.
He doesn't seem to care much about the Democratic Party either. I hope I am wrong and he stops the offering up of seniors and the disabled.

[FogerRox]

28. Yeah............. there is that

But that wont stop me.

[Nite Owl]

30. No, we can't stop!

I couldn't in good conscience not do anything. Lose the battle, win the war...