Forbes: What would President Bernie Sanders mean for Social Security

[Chiquitita]

As the race for the White House continues to heat up, Social Security is beginning to take center stage as a hot topic among Democratic voters. While both Hilary Clinton and Bernie Sanders have stated they do not plan to cut Social Security benefits, they do widely differ on how to provide lasting stability to a program in dire need of assistance. According to the Social Security 2015 Trust Report, the Old, Age, Survivors, and Disability (“OASDI”) trust funds will be depleted by the end of 2033. As a result, Social Security will meet only roughly 79% of promised retirement benefits payments at that time. While it is unclear exactly how Hilary Clinton would fix Social Security, Bernie Sanders has been outspoken on his proposals to provide lasting stability to the system.

Details here:

http://www.forbes.com/sites/jamiehopkins/2016/02/16/what-would-president-bernie-sanders-mean-for-social-security/#153ad93f3a45

Social Security is the backbone of America’s retirement income as it keeps our seniors out of poverty and allows them to retire with financial security and with dignity. However, it is in dire need of updates and changes to ensure its continued solvency. The good news is that Congress has already started the process by reducing some benefits in 2015 with the Bipartisan Budget Act (“BBA”) of 2015. According to the Social Security Administration, “the effects of the BBA [will] provide a small further improvement in the projected actuarial status of the Social Security Trust Funds[,]” despite the fact that funds were reallocated from the OASI fund to the Disability Insurance Fund. However, these changes alone were not enough to fix Social Security and further changes are needed. Regardless of whether you agree with the proposed changes, Bernie Sanders has provided clear steps to improve the funding status of Social Security, increase benefits to all retirees, and updated the way COLAs are calculated.

[Erich Bloodaxe BSN]

1. Odd mix there.

The author first says it's good that Congress is REDUCING benefits, then turns around and lauds Sanders' proposed fixes, which would even possibly lead to improved benefits.

It's like those people who 'WANT SOMETHING DONE!' without really caring what the 'something' is. 'Fix' the flat tire either by removing the rim too, or by putting a new tire on the car. As long as 'something' is done, they're happy, even if it's something likely to cause more problems down the road.

[Chiquitita]

2. I agree. the article doesn't take a clear stand

but it does outline all the details of Bernie's proposals. I like the fact that there's little spin there, just the proposals and the math.

[daleanime]

3. +1

[Bluenorthwest]

6. I like the way he presents the information considering the context of Forbes....

His conclusion is that Bernie's proposals are sound, clear and detailed steps which would improve the funding of Social Security while expanding and improving benefits. The language about Congress already working to make changes with the same objective of improving the funding tells us that this is in fact a serious subject and that we are already looking at doing large alterations of a negative sort. Thus if we know we have to do something, and we are now looking at a better plan we should go with the better plan.

It is clam, collected biz style reporting which benefits Bernie. It says 'We are the people who would do whatever it takes but always want the best idea, radical steps are already planned but these other seemingly radical steps are sound and superior'.

[Chiquitita]

7. : ) my thoughts too

[DonCoquixote]

4. I stopped reading at this line

"The good news is that Congress has already started the process by reducing some benefits in 2015 with the Bipartisan Budget Act (“BBA”) of 2015."

the second you hear the words bipartisan, reduce benefits, you know you are being fed a toxic pill hidden in verbal candy. Do not think that Forbes would cry one minute if seniors starve.

[Chiquitita]

5. It's not that I have faith in Forbes

but this author is one person, not Forbes itself, and he is writing artfully for a certain readership with whom I don't agree. I posted because I was happy to see the respect here for the solidity of Bernie's policies.