Social Security Alert…


s
From THOM HARTMANN

[Senator Bernie Sanders: “What the president is proposing is going to hurt a lot of people,” Sen. Bernie Sanders said Friday after the White House confirmed that President Obama’s budget will include cuts in Social Security. He called it a “bitter disappointment” that the White House budget proposal next week will call for changing how annual cost-of-living adjustments are calculated. As the chairman of the Senate Veterans’ Affairs Committee, Sanders added that the White House proposal also would cut benefits for disabled veterans and their survivors. As a candidate for the White House in 2008, Sanders noted, Obama pledged not to cut Social Security COLAs.]

It looks like President Obama is still open to negotiations with Republican economic terrorists. Details of the president’s budget, set to be released April 10th, show that he will offer significant spending cuts to so-called “entitlement programs”- like Social Security and Medicare – in hopes of attaining a “grand” budget bargain with Congressional Republicans.

The plan replaces the sequester with other spending cuts, and increases revenues by $580 billion. In a move that is sure to infuriate progressives and many Democrats, the president will propose lowering cost-of-living increases to Social Security benefits. This is insane. Instead of asking the wealthiest in our country to pay the same percentage of their income towards our social safety net, the President thinks that the elderly, disabled, and veterans should bear the burden of Republican austerity.

Our nation has a policy of not negotiating with terrorists, and economic terrorists shouldn’t be the exception. We must stand together to preserve our social programs. Tell Congress and the President that we won’t stand for balancing the budget on the backs of the poor. Sign the petition at no-cuts.com.
~~

4 Comments

Q: How do you know when any politician is lying to us?

A: His/Her lips are moving.

First the Bad news:

These numbers have to now be revised downwards meaning more baby boomers will have to live on even less.

Also please make note that Obama’s announcement to cut SSN is occurring exactly almost to the year that the largest sector of those paying in, the Baby Boomers, are now due to start their withdrawals. This is happening not by sheer coincidence but by long term planned design.

“On average, boomers are woefully unprepared to retire comfortably. According to a recent survey by TD Ameritrade, the typical boomer has around $275,000 saved — and needs $475,000 more, for a total of $750,000, in order to make it through a comfortable retirement. That kind of cash is tough enough to come up with for someone with decades to plan. For a leading-edge boomer facing imminent retirement, it may very well be impossible.

How ugly can it get?
Based on the 4% rule for retirement withdrawals, a retiree with a $275,000 nest egg in a well-diversified portfolio can withdraw $11,000 each year, indexed for inflation, and likely not outlive his or her money. With the average retiree’s Social Security check of $1,264.88 a month adding around another $15,179 a year, the typical boomer, retiring today, would have just over $26,000 a year to live on.

That’s in the neighborhood of half of the average household income — recently estimated to be around $51,404 per year. And, given that average earnings generally increase with experience for folks under retirement age, chances are that a $26,000 income level would be an even steeper drop than half for a boomer.

http://www.fool.com/retirement/general/2013/04/05/millions-of-boomers-will-be-forced-to-live-with.aspx

******

And The Really Great News:

Our Social Security system is far, far, far from broke. All the money is in the peoples investment funds that our legislature has written laws, and refuse to disclose to us because they are stealing the money from us and use it for their globalists agendas.

“Yes… for those of you who don’t know, the Social Security program has a massive investment trust fund that hoards your hard earned money into it every single year, and uses that money to invest in such things as war and occupation of other countries, junk bonds and federal securities – including mortgage-backed securities – and of course national and international banks and investments.

Remember, the main function of government’s taxation program is not to support government operations, but rather to increase the fund balances of governmental funds in order to create and support a massive investment based pool, which is then used for all of the non-taxpayer legal criminal activities that government participates in – what it deems as “non-governmental operations” using what it likes to consider “non-taxpayer money” derived from these investments and their returns. You see, your corporate government figures that any gains it is able to collect from investing your taxpayer money is there’s to keep and play around with at its leisure.

Of course, the Federal government continues to tell the people of America that the Social Security system is in financial ruin, and will be broke by the time many of us come-a-collectin’ in just a couple of decades. They tell us that the evil baby-boomers will strip Social Security bare, and drain the entire program into oblivion.

But I’m here to tell you that this just isn’t true. In fact, it is one of the biggest fallacies ever perpetrated upon the American public. It is a lie hidden in plain sight, just as most government programs and funds have turned out to be.

And so, according to the 2011 CAFR for the Board of Trustees of the Social Security System, the Social Security Trust Funds have a combined total of…

$2.6 trillion dollars!!!

Total assets, December 31, 2010
$2,608,950,000,000

That is over $ 8,470 per PERSON in the United States. It is all in plain sight for those that wish to see in the annual Comprehensive Annual Financial Report (CAFR)

For those of you who didn’t see the ending of “The Great Pension Fund Hoax”, we discovered that the Social Security trust funds had over $2.5 trillion dollars in the 2009 CAFR. In 2006, that figure was $1.8 trillion. That was an investment return of about $700 billion dollars in just 5 short years.”

http://realitybloger.wordpress.com/2012/01/27/social-security-trust-fund-tops-2-6-trillion/

Now the biggest question is not what are we being told about our bogus economic crisis’ manufactured by those who wish to steal our wealth but how do WE get our money locked from those who made us all pay into the system they created, that and we entrusted future savings to and are now lying by saying we must receive less then what was promised to us and is held in Investment trust accounts??

If you know any accounts or investment analysts, please pass this on for further clarificatio and verification We are not broke folks, far from it. Pass it on.

Politicians make hay out of anything and SS is no exception. My understanding of the SS system: FICA payroll taxes go into the Fed general fund. SS benefits are paid out of the general fund. If more is paid in than paid out government bonds are issued for the difference and put into the SS trust fund. If more is paid out than in the opposite happens. The trust fund now at $2.6 trillion or so is part of the $16 trillion national debt. So far China does not think the bonds are worthless but I hear they are quietly and slowly getting rid of theirs. We may be better off in the long run to ask the Feds to keep our payroll taxes under a non-interest bearing mattress.
This year, 2013, I got a SS increase, re; cost of living raise of $ 27/month but that was reduced to pay the increase of $ 5 in medicare premiums. So with the additional income of $ 22/month I an beginning to consider hiding it in an offshore bank.
The decades old ongoing rhetoric about SS is nothing more than the old game of divide and conquer. It has worked quite well over the years.

There is no economic terrorism’ going on between parties are there are no longer two parties in the US. They are all the same party with an agenda that distracts you sheeple from noticing the really important things they are doing behind your backs.

O was put in office to do exactly what he is doing, the destruction of the social safety nets and the transfer of all power to the military and banksters. There has not be a real election in 30 years or more. There has just been great advertising packages presented by Madison Avenue and sold to the sheeple, like the next I-pad.

It is all moot anyway as the dollar is done as the world’s reserve currency and it is only a matter of time until the whole system collapses. Then we will start with a dictatorship, and who knows what, if any, social safety nets will survive. The third world will be America.

Small Farmer in Frisco April 9, 2013 at 6:34 am

Mr. Obama has been and continues to be a huge disappointment in his role as POTUS. Lots of potential but lack of follow through and verbal deference to the poor but legislative and practical preference for the well off in corporate America…in fairness I disagree with the projections of required savings for retirees: the assumptions as to what constitutes comfortable are far too vague and generalized to be relevant. As for the continuance of Medicare and SSI? As a nation we need to stop the nonsense of paying private insurers to make a profit on our illness…we need a national health program that is single payer and private insurers need to be non-profits or cooperatives. As for SSI: we pay premiums and we should expect a reasonable payout. At the same time we need 1) to have the salary cap on contributions lifted, 2) more transparency on the amounts paid in and paid out on an ongoing basis, 3) the equivalent of an easily understandable SEC 10K report by the folks overseeing both Medicare and SSI laying out sources of revenue, expenditures, investments, etc. As for future projections of payouts? I believe we would benefit from a commodities basket approach to COLA and base it in part on annual % change in our nearest market/census area…thoughts?

Follow

Get every new post delivered to your Inbox.

Join 4,548 other followers