Reply #27: I am not "buying" the insolvent SS issue [View All]

[UpInArms]

I am angry that the theft of the Fund is even being floated by the incompetent buffoons at the helm -

I, personally, will not be silent in the face of these pocket-picking SOBs' outrageous suggestions - and I recommend that others are not also.

http://www.kansascity.com/mld/kansascity/business/8041832.htm

(free registration required)

The Medicare and Social Security programs take in more in taxes than they spend on benefits for recipients. But Medicare is projected to go into the red in 2013 and Social Security in 2018. Surpluses currently are lent to the federal government and used to help fund the budget deficit.

When those programs go into the red, the government in theory would have to repay them. The looming shortfalls could affect financial markets and the economy long before they arrive. Looking at today's budget deficits with future Social Security and Medicare liabilities, investors may lose faith in the government's ability to avoid ever-increasing deficits. At some point, that probably would push up interest rates, threatening economic growth, Greenspan said.