"This is the most successful domestic program in the history of the United States," Clinton said to applause from seniors gathered in Washington to push their policy agenda. "When I'm president, privatization is off the table because it's not the answer to anything."
She also said she does not support cutting benefits or increasing the retirement age. Seniors can begin collecting partial benefits at age 62, with full benefits available at age 67 for those born in 1960 or later.
The program's trustees issued a report in April that made clear the deficits Social Security faces:
Has the size of the Social Security problem changed over the last year?
* In net present value terms, Social Security owes $6.8 trillion dollars more in benefits than it will receive in taxes. That number includes $2.0 trillion, in net present value terms, to repay the bonds in Social Security's trust fund. This $300 billion increase is almost 4.5 percent higher than last year's $6.5 trillion number. The 2007 number consists of $2.0 trillion to repay the special issue bonds in the trust fund and $4.8 trillion to pay benefits after the trust fund is exhausted in 2041.
Net present value measures the amount of money that would have to be invested today in order to have enough money on hand to pay deficits in the future. In other words, Congress would have to invest $6.8 trillion today in order to have enough money to pay all of Social Security's promised benefits between 2017 and 2081. This money would be in addition to what Social Security receives during those years from its payroll taxes. ....
* Social Security spending will exceed projected tax collections in 2017. These deficits will quickly balloon to alarming proportions. After adjusting for inflation, annual deficits will reach $67.8 billion in 2020, $266.5 billion in 2030, and $330.9 billion in 2035.
2007-09-05 05:54:28 · 11 answers · asked by CaptainObvious 7 in Politics & Government ➔ Politics
Like most people who support socialism, Hillary Clinton does not live in the real world. There should be no question about her being a socialist after that statement inferring that private control of wealth is not the answer. Private control of wealth is the basis of America. It has been the answer for over 200 years.
Equal opportunity, not equal outcome. That's true liberalism.
2007-09-05 06:06:49 · answer #1 · answered by Overt Operative 6 · 2⤊ 1⤋
Social Security should be paid to those and only those who are US citizens and pay into the system. If Hillary Clinton or any one else running for president says giving illegal aliens Social Security benefits is a good thing will find it very difficult to win the White House.There are way too many senior citizens and handicap citizens who can vote against them for them to win. And I'm one of them. I believe in 'when in Rome, do like the Romans. Which means if you want benefits from the US, learn English and take the test. Pay into the system like the rest of us. if they don't and still get benefits, there ain't no wall tall enough or long enough to keep the rest out!
2016-04-03 04:53:12 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes it is a successful program but the program is not what it was intended for if you read reports from Congress at its creation. Government assumed many would die shortly after getting it, longevity of life has changed dramatically. Also did not intend program to be citizens only funding for retirement. Plus back then there were many more working than retiring by far now with the baby boom generation and its large numbers there are not enough to work to fund their needs. Partial privatization is only way to keep it running.
2007-09-05 06:00:51 · answer #3 · answered by ALASPADA 6 · 2⤊ 0⤋
"Social Security spending will exceed projected tax collections in 2017. These deficits will quickly balloon to alarming proportions. After adjusting for inflation, annual deficits will reach $67.8 billion in 2020, $266.5 billion in 2030, and $330.9 billion in 2035."
Maybe we should have invested in Soc. Sec instead of the debacle you call Iraq...
i
2007-09-05 06:01:59 · answer #4 · answered by outcrop 5 · 2⤊ 1⤋
Clinton is pandering. She said that in a room full of senior citizens. Of course they would applaud! They don't realize that deficits will occur and there is no realistic way of reparing social security. Is a failure and it will only hurt us. The government doesn't have enough funds to cover everybody, is not possible. She obviously doesn't know what she is talking about.
2007-09-05 06:16:04 · answer #5 · answered by cynical 7 · 3⤊ 1⤋
She is right about, despite its problems, SS being our most successful domestic program. I'm sure she knows the problems with SS just as well as any of us. Obviously she feels there is a better solution to this problem than privatization and raising the retirement age. But if she does she needs to put forth more details about how she plans to deal with it, and I suspect she will have to before this election is over if she's going to back her stance.
2007-09-05 06:19:04 · answer #6 · answered by Anonymous · 0⤊ 1⤋
Hasn't anyone else noticed that Hillary Clinton lies? Whatever she says is for the benefit of herself and aimed at the audience to whom she is speaking.
2007-09-05 06:22:26 · answer #7 · answered by Anonymous · 1⤊ 1⤋
I thought people got what they paid into it? Just proves insurance and all that is an expensive scam.
2007-09-05 06:34:01 · answer #8 · answered by ? 3 · 0⤊ 0⤋
Never bother a Democrat politician with the future...if it won't go "kaboom" til she gets out of office she could give a rats ***.
2007-09-05 06:00:30 · answer #9 · answered by makrothumeo2 4 · 2⤊ 2⤋
She's going to take all of the money and trade commodities for us.
She made $100,000 on her one and only trade.
Do you think that was luck or a bribe?
2007-09-05 05:58:22 · answer #10 · answered by Duminos 2 · 2⤊ 3⤋