Wednesday, March 24, 2010

Social Security and You: Friends Till the End

New York Times:

Now that landmark legislation overhauling the health insurance system is about to become law, addressing Social Security’s solvency could well become the next big thing for President Obama and Congressional Democrats.

I like to think of Social Security as being solvent until 2044. I pick this date randomly, based on nothing more than what the Congressional Budget Office expects.

Anybody concerned about the solvency of Social Security after this date, when it will still pay out three-quarters of projected benefits, has one of two choices: 1) divert money to Social Security anytime between now and 2044; 2) accept that Social Security is doomed and there is nothing anybody can do about it except raise the retirement age and slash benefits.

Granted, if your government is spending lots of money in other areas, it may be hard to find money to support a program like Social Security. But there is probably money somewhere. Can you think of something that the United States is spending a lot of money on these days that is more important to you than your quality of life after a lifetime of work? Just think if your government stopped doing something really expensive and used that money to make your retirement even nicer, earlier, or both! That might make good fiscal sense, from your point of view.


Anonymous said...

oh jrb. already behind the times. the NYT reports today that S.S. will pay out more this year than it takes in. they can't wait till "2016" or "2044" to get their fat fingers round grandma's pittance.

d.mantis said...

Brilliantly cuts to the bone, as always.

I have often thought that these are the succinct type of arguments that may persuade some of the 'teabaggers' to realize that they are actually demonstrating against their own interests.

Excluding the racist/xenophobic/reactionary elements in that corporate-sponsored photo opp, I believe there is a significant portion who are honestly angry and confused about...?

They are honestly angry and confused, they just need someone to point out the reason. This gets so easily lost (read: hidden) in our society, which is why I enjoy the post on Society of the Spectacle and marxism.

almostinfamous said...

war! who-h! what is it good for?

cutting the f out of social security!

Enron said...

Have you glanced at the ratings on US Treasury bonds lately?

JRB said...


Don't worry -- there's more where that came from.