Social Security to start cashing Uncle Sam's IOUs

[Spexxvet]

Originally Posted by TheMercenary

Propafuckingganda...

There is no way that money will be there like they say it will.

There are plenty of ways that money will be there like they say it will.

[morethanpretty]

Originally Posted by Spexxvet

There are plenty of ways that money will be there like they say it will.

Could you please elaborate?

[Shawnee123]

I think Spexx was just countering merc's doomistic "NO WAY" by saying, certainly, there ARE ways. Think of it as making fun of hyper hyperbolics, rather than a specific defense of the Social Security system.

On the other hand, merc, please elaborate on the many NO WAYS there won't be any money there. In this deliberation, please counter ALL ways that the money could possibly actually be there.

Otherwise, it's just more crying. Seems to work for ya, though.

[Spexxvet]

Originally Posted by morethanpretty

Could you please elaborate?

Here's three:

Increase contributions

Increase the age at which you can get benefits

Deny benefits to those whose income/net worth is over $X

[Spexxvet]

Originally Posted by Shawnee123

I think Spexx was just countering merc's doomistic "NO WAY" by saying, certainly, there ARE ways.

Cause we're Team America (FUCK, YEAH!) and we can do anything!

Originally Posted by Shawnee123

Think of it as making fun of hyper hyperbolics, rather than a specific defense of the Social Security system.

Who, me?

[morethanpretty]

Ah, thank you for the explanation. I am probably too tired to be trying to read/understand this stuff, but I have 4.5hrs more of work to stay awake for...

[Happy Monkey]

Some of the ways:
Raise the retirement age
Raise or eliminate the cap on payroll taxes
Baby Boomers die.

[ZenGum]

Ahh, the Eskimo solution.

[Happy Monkey]

I don't think we'll need the Eskimo solution for the Boomers to die. I suspect it will happen eventually, no matter what.

[Spexxvet]

Originally Posted by Happy Monkey

...Baby Boomers die.

There's a plan: Kill baby boomers. Except me.

[Clodfobble]

Sooner rather than later, too, because they're only going to get more expensive.

[classicman]

Bump...

(AP) WASHINGTON — The Social Security Administration made $6.5 billion in overpayments to people not entitled to receive them in 2009, including $4 billion under a supplemental income program for the very poor, a government investigator said Tuesday.

In all, about 10 percent of the payments made under the agency's Supplemental Security Income program were improper, said Patrick P. O'Carroll Jr., the Social Security inspector general.

Error rates were much smaller for retirement, survivor and disability benefits, which make up the overwhelming majority of Social Security payments, O'Carroll told a congressional panel.

"By any standard, the scope of these problems is considerable," said Rep. Charles Boustany, R-La., chairman of the House Ways and Means Oversight subcommittee. "Regardless of whether a payment occurs because of simple error or outright fraud, improper payments harm Social Security programs in the long term, jeopardizing benefits for those who may need them in the future. They also cost taxpayers billions of dollars each year."

With lawmakers working to reduce soaring budget deficits, President Barack Obama has directed agencies to reduce improper payments. Boustany's panel held a hearing on Social Security's improper payments Tuesday. O'Carroll said the agency is working to improve accuracy, but more must be done.

Throughout the federal government, improper payments totaled $125 billion last year, up from $110 billion in 2009, O'Carroll said. In 2009, only two other agencies — the Departments of Health and Human Services, and Labor — had more improper payments than Social Security, he said.

Read more:

Isn't that nice - In comparison, however, that is a mere drop in the bucket compared to the wars we are fighting.

[Happy Monkey]

Amusingly, that is almost identical to the value of the bales of cash we lost track of in Iraq, according to a show I heard on NPR on my way home tonight.

[classicman]

lol - One of the comments below this article eluded to the same thing.

[Happy Monkey]

Just for clarity: According to the radio show, it was $6.6 billion total unaccounted for, which matches the $6.5 billion mentioned in the article, not the $8 billion in the article headline, or the $6 billion on one pallet or $26 billion total mentioned in the comments.