Comment on Keep in mind that social security is set to run out in 10 years time.

• jmdatcs@lemmy.tf ⁨10⁩ ⁨months⁩ ago

  They’ve been saying that my entire life, my dad’s entire life, and when my dad was my age, my grandfather would tell him he’s heard the same things his entire life going back to the 40s.

  For a couple decades the disingenuous doom -and-gloomers told us no way could social security ever deal with the baby boomers. All through the 80s and 90s they told us we might as well privatize it or kill it all together. The only time wall street shut up about it was when they were too busy jerking off to the thought of getting their hands on that money. Well, the youngest of the boomers turn 60 in '24, they’re almost all in and the end times keep getting pushed back, from the 80s to the 90s to the 00s to the 10s to the 20s and now 2035. It’s like a doomsday cult that keeps pushing the date when the apocalypse doesn’t arrive at the appointed time.

  You’ll have to excuse me for not getting worked up over the 40th new year I’ve heard for the sky falling.

  And for what it’s worth, managing the COLAs, the cap, the percentages, and anything else the SSA has done throughout it’s existence isn’t “tomfoolery,” it’s accounting. And damn good accounting so far. The SSA being such a well run government institution probably makes republicans hate them almost as much as the tax itself.

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  • shalafi@lemmy.world ⁨10⁩ ⁨months⁩ ago

    LOL, just posted the same, but not nearly so learned or eloquent.

    KIDS: You’re getting you Social Security. And remember, us old folks are not going to go senile and vote against it!

    It’s called the “third rail” of American politics for a reason. Touch it, you die.

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    • prole@sh.itjust.works ⁨10⁩ ⁨months⁩ ago

      third rail

      People here making 90s talking points like they’re still relevant in this political climate. Have you seen the people Republicans vote for? Have you seen this Supreme Court?

      That shit is out the window.

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  • JustMy2c@lemm.ee ⁨10⁩ ⁨months⁩ ago

    Sure upto now it’s been fine…

    But a WHOLE LOT of new people will be getting check soon…

    And military and debt spending are through the roof And the normal people are paying groceries and rent with their credit card…

    I’m. Sure they’ll solve it tho, last minute.

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    • jmdatcs@lemmy.tf ⁨10⁩ ⁨months⁩ ago

      That exact comment would be at home in a letter to the editor in response to an article in any newspaper, in any year, for the past 80 years. And on any discussion board from the earliest days of the internet until now.

      I’m not going to make any assumptions about your age or the length of time you’ve paid attention to these issues, but if it’s only been a decade or so, you should start seeing the pattern soon. Don’t let them scare you into helping them do what they’ve been trying for 88 years.

      This program has kept a lot of elderly and disabled people out of poverty. Don’t let them take it.

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• otter@lemmy.dbzer0.com ⁨10⁩ ⁨months⁩ ago

  1. No.

  2. “Tomfoolery”? Step away from the idiot box, gramps.

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  • JustMy2c@lemm.ee ⁨10⁩ ⁨months⁩ ago

    Sure granny, go believe them,I’m sure those 2 trillion arnt in some loss leading 1% government bonds

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    • jmdatcs@lemmy.tf ⁨10⁩ ⁨months⁩ ago

      Have you not been paying attention to what the Fed had been doing? Pardon my language but shoving cash up my asshole earns more than 1% these days.

      In 2022, before most of the rate hikes, the trust fund earned $66.4 billion. This year’s high, and hopefully very temporary, interest rates aside, it’ll usually be around 2.5-3%.

      I’m not sure what you think loss leading means or why you’re using it here, but governments storing reserve money earmarked for a specific purpose in their own bonds isn’t unusual or a bad thing. Should they stuff it under a mattress earning 0%?

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      • JustMy2c@lemm.ee ⁨10⁩ ⁨months⁩ ago

        Sorry, I must admit I’m not from the us and I may have been more talking/afraid for my local governments funds… Thanks for the great explanation tho!

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    • otter@lemmy.dbzer0.com ⁨10⁩ ⁨months⁩ ago

      So pissy you can’t even type straight? Breathe, tiger. Go touch grass.

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      • JustMy2c@lemm.ee ⁨10⁩ ⁨months⁩ ago

        Now you’re cheating, cause that would be good advise always.

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• tastysnacks@programming.dev ⁨10⁩ ⁨months⁩ ago

  The current trust fund is > $2T.

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