What do you think will be the basic problem of financing Social Security in the next 25 to 30 years?

Question

What do you think will be the basic problem of financing Social Security in the next 25 to 30 years?

Answer 1

The biggest problem will be the same one that is facing the system today...legislators who won't keep their hands off the money and policies that allow people to receive the money from a fund they never paid into.

The government has not paid back the money that they "borrowed" from the fund. They passed a law allowing themselves to do so, so it is all legal. If they paid back what they borrowed - or better yet - kept their hands off of it in the first place, we wouldn't have a Social Security crisis. But Congress won't worry about paying it back because they have a different "retirement" plan, so they aren't compelled to fix the problem. They'll promise reforms long enough to get elected and then do nothing.

The system is also paying out money from Soc. Sec. to people who never paid into it; yet, by the time I am old enough to qualify for the funds I have paid, I'll be told that I'm out of luck...that my money has gone to someone else.

Given how corrupted this financial retirement/safety net system has become, who in their right minds would want to turn health care over to the government?

Answer 2

more people with drawing and less people paying into the system

85 million people are part of the Baby boomers1946-1964

since then less people were born and when we all retire there aren't enough people working to support the system


I think that when SS was start there were 4 works to every retired person now that is starting to reverse where there will be 4 retired people to every 1 worker big problem


The Solution is Do Not depend on the Government to take care of you take care of your self

The biggest expense for retired people is medical so do you self a favor and watch what you eat most of the medical problems seniors face has roots to eating habits over a life time

High Blood pressure
Diabetes
Digestions

Check the medication that seniors are taking then work backwards


Dr OZ will tell how to help yourself avoid the expensive drugs and care then you won't need so much money to retire on

Answer 3

Ok, so exactly where is my money going every week that comes out of my check for Social Security?

I realize its used for those with disabilities that never contributed, which I think is a crock. All I know is it better be there in 27 years when I get ready to retire or there is going to be major hell to pay!

Answer 4

Too many people collecting, too few paying in.

Don't trust for Social Security to be the main source of funding for your retirement. IT IS NOT INTENDED TO BE THAT ANY MORE. Take responsibility for your own life - start an IRA, fund your pension, spend less than you earn and save and invest the rest. Anything less is just foolish.

Answer 5

the amount of people who are paying in compared to the amount that will be collecting are much less. This will of course cause a short fall. Perhaps the government should not have borrowed from these funds and needs to pay back from another source. This program was intended to cover those who are of retirement age and not originally meant to pay for diabled younger people, children of disabled parent or children of deceased parent. We should consider looking into another program for these recipients much like state welfare programs. In any case, I'm not counting on it being around when I become eligible.

Answer 6

Don't worry so much about SS; the BIG problem is Medicare, which will get bankrupt in less than 10 years, specially, with the addition of the Drug Plan and no corresponding increase in funding; Medicare growth rate is CRAZY and will get worse with baby boomers; look for a BIG tax increase there. The amazing thing is, nobody talks about it.

Answer 7

The Government does not have the money to pay, only the UNFUNDED liability that grows everyday.

HUGE increases in taxes would be necessarry to fully fund social security.