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Social Security

Here It Comes (Social Security)
27 Jan 2011 -  The Congressional Budget Office said that Social Security will pay out $45 billion more in benefits this year than it will collect in payroll taxes, further straining the nation's finances. The deficits will continue until the Social Security trust funds are eventually drained, in about 2037.
There are no Social Security Trust funds.

Social Security disability on verge of insolvency
Aug 2011
-  Laid-off workers and aging baby boomers are flooding Social Security's disability program with benefit claims.  Applications are up nearly 50% over a decade ago as people with disabilities lose their jobs and can't find new ones in an economy that has shed nearly 7 million jobs.

The disability program is also being hit by an aging population — disability rates rise as people get older — as well as a system that encourages people to apply for more generous disability benefits rather than waiting until they qualify for retirement.

Retirees can get full Social Security benefits at age 66, a threshold gradually rising to 67. Early retirees can get reduced benefits at 62. However, if you qualify for disability, you can get full benefits, based on your work history, even before 62.  Today, about 13.6 million people receive disability benefits through Social Security or Supplemental Security Income.

Government to quit sending Social Security checks by mail
16 Apr 2012
- Checks will no longer be in the mail for millions of people who receive Social Security and other government benefits.  The federal government, which issues 73 million payments a month, is phasing out paper checks for all benefit programs, requiring people to get payments electronically, either through direct deposit or a debit card for those without a bank account.

Americans are more willing to cut Social Security than once thought

It has long been an axiom in politics that Social Security is politically radioactive and that politicians court political disaster by pressing for major changes in the nation’s premier retirement program.

Former President George W. Bush suffered a sharp decline in popularity after his 2004 reelection by promoting an ill-fated plan to partially privatize the system by allowing Americans to invest their benefits in private accounts. The more Bush talked about his Social Security proposal, the more unpopular it became. The Gallup organization recorded that disapproval as it grew from 48 percent to 64 percent during the first six months of his second term.

Veteran Republican Rep. Sam Johnson of Texas, the chair of the House Ways and Means Social Security subcommittee, may have touched the so-called “Third Rail of Politics” last week. He introduced legislation to assure the long-term solvency of the retirement trust fund by – among other things – raising the retirement age to 69, raising payroll tax revenues, means testing the system for wealthier retirees and adopting a less generous cost-of-living formula.

Although the trust fund isn’t in imminent danger, the Social Security trustees warned that absent congressional action, it will be exhausted in 2033. Thereafter, the benefits for 61 million retirees and their families would have to be cut by 23 percent. Johnson’s proposal immediately drew sharp attacks from House Minority Leader Nancy Pelosi (D-CA) and other liberal Democrats, who portrayed it as an assault on the 75-year-old retirement system that could lead to cuts in benefits for average beneficiaries of a third or more.


    Obama Social Security Gun Ban
Dec 24, 2016
 -  Obama Social Security gun ban could prevent thousands of law-abiding elderly citizens from purchasing guns for self-defense.  In 2016 January, Obama incorporated the ban into his executive gun controls. A White House preview of those controls explained that the Social Security Administration (SSA) was putting together rules for how/when to enforce the ban.  SSA and DoJ - those with documented mental health issue, receive disability benefits, and are unable to manage those benefits because of their mental impairment, or who have been found by a state or federal court to be legally incompetent. Forum Index -> America NEWS
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