Social Security?

Question

Is social security the reason why the united states is over 9 trillion dollars in debt?

Answer 1

Well, Clinton did use all the money in the Social Security "trust fund" to bring the deficit down during his administration (remember Al Gore and the "lock box"). It made him look good. So partially yes.

Deficits have occurred since WWII, in fact, the deficit in WWII was much worse (in terms of percent of GDP), they always seem bad when viewed in terms of absolute dollar amounts.

Answer 2

Well, not yet, but we need to raise the retirement age so we can continue to fund Social Security. People are living longer so they are collecting SS longer.

We're in debt because our tax system isn't structured fairly. Establishing a fair minimum income and providing a negative income tax to bring the poor up to that and then dropping taxes on earned income in favor of a 25% national sales tax would go a long way to making the rich pay their share, and allowing for a balanced budget. No IRS, no 1040s, just a way to make anyone who works hard have a decent life and getting the Paris Hiltons of the US to pay their fair share. It would also make saving attractive again.

We have rich people collecting what amounts to welfare (when they have received more than they've paid in) and working poor unable to keep up. During the 50s, when we had a liberal Republican president, we were the model of prosperity and industry, a position we've largely ceded to the European union. They pay a VAT, a value-added tax on all goods and services AND they have national health. Since most of the middle-class is in the 25% bracket, it wouldn't be a tax hike.

However, this would depend on Congress voting to be fair to the working poor and middle-class over the rich. You think that will happen?

Answer 3

We were in debt long before the war. The government has gotten out of control with their spending. Just like we go in debt if we are out of control on our own spending. You have people like Hillary Clinton proposing to give every newborn child $5000 dollars for education. Also proposing a national healthcare plan. Who do you think pays for all these programs? Next pay stub you get look at how much you are getting deducted each week and calculate what percentage that is. I promise you if a democrat gets in office for president it will be much higher. Speaker of the house of representative Nancy Pelosi ... was put under the spotlight when they revealed she has a $16000 a month flower bill to keep her office pretty. If that was your money would you spend $16000 for flowers???? They do not care since it is not their money. They will just raise taxes. If this keeps up the government will get more of your paycheck then you do.

Answer 4

if eveyrone kept up with what has been happening over the past few decades, you would realize that illegals HAVE been paying into social security (to the tune of billions) and most of them will never collect one dime in retirement benefits. YOUR government has been siphoning from this special fund for years, while lying about the amts of money the illegals are getting in aid, etc.
Let me collect my benefits from my social security contributions I say. With the pension I plan to amass, I will be able to live comfortably. I don't want MY monines placed in some Bushboy ,otherrepublicanchoicesbigbusinessinvestmentfirms. at all.
We are such suckers.

Answer 5

Nope.

It's Bush's little war in Iraq (2 1/2 BILLION per week), Bush's tax cuts to the wealthiest Americans and his 3 trillion defense budget....

Answer 6

Uh, no!! The answer to that question would be George Bush. Actually Mr.Bush abd his administration have been takeing money OUT of the Social Security Fund.

Answer 7

the 1st 3 digits of your SSN ought to tournament the 1st 3 numbers of the zip code the place you purchased your SSN. the subsequent 2 are numbers given out in blocks. as quickly as I worked as a bouncer we had a chart of while the 4th and 5th numbers have been given out to apply for fake identity checking (in case you SSN became utilized in 1945 and you declare to be 21 there must be a topic). If it became in reaction to race this would not have worked. The final 4 digits are merely that 4 digits given out so as. My sister, brothers and that i've got consecutive numbers as my dad and mom have been given our SSNs on the comparable time. in case you like extra advantageous evidence my 5th digit is even(i'm white) and my spouse's is extraordinary(she is chinese language).

Answer 8

No it is not. Deficit spending (borrowing money to buy what you can't afford or have) is why the USA is over $9E12 in debt.

Now when all of the baby boomers start drawing their SS, look out!

I wish I could simply say no thanks, keep what you have taken from me, but from now on let me invest it the way I see fit and keep your mitts out of my business!

Answer 9

the best way to explain it would be, the pollutions in the past has put iou,s in the fund and just forgot to pay it back.
so the question is who,s going to pay it back? or the eleagals imegrants that pay in and donot get back, willthis be enouph ?

Answer 10

That and Welfare and Medicaid and Medicare. Also supporting all the F-ing illegals in this country