What Social Security's Underfunding Means for Your Retirement

The baby boomers will get their payouts, but what about the rest of us?

May 13, 2009 RSS Feed Print

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[See why most Medicare Part D enrollees don't choose the cheapest drug plan.]

Most current retirees will not be subject to large premium increases in the short term because of a law that limits premium increases to the dollar amount of the annual increase in Social Security benefits. A Congressional Budget Office report predicts that there will be no cost-of-living increases for Social Security beneficiaries in 2010 through 2012, which also means no Medicare Part B premium hike for the majority of beneficiaries. But new enrollees and current beneficiaries with incomes above $85,000 this year ($170,000 for couples),who make up approximately one quarter of Part B enrollees, could be charged unusually large premium increases over the next two years. Premiums for Medicare Part B and D and the prices for out-of-pocket medical expenses not covered by Medicare are likely to further increase in the future.

Tags:: social security,; retirement

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Since the baby boomers will not need help with SS, then I figure all is fair in life. When you jackasses get older and need help, we younger people are gonna tell you to get out those boots and pull up on those proverbial straps. If you think hell can't be on earth, then wait until you need help when you get older. You are gonna need to create another non-existent God to deal with the backlash that is coming your way. Screw your kids over is your mantra. That is gonna bite you in the ass pretty soon. YOU HAVE BEEN WARNED!
And don't bother trying to flex your inheritance muscle because none of your kids eve thought you would leave anything to them. Greedy people NEVER do. But like I said, you are gonna need that God of yours to deal with the wrath coming your way.
And just so you know, when you are pissing and shitting in that diaper in the home, I'm gonna remind you losers to create your own reality and just imagine that the piss and poop is sand and surf.
It's on beeyotches!

Baby Boomer Hater! of DC 1:50PM August 06, 2010

"The good news for current beneficiaries and those nearing retirement is that your benefits will remain secure and intact for the foreseeable future," says Nancy LeaMond, executive vice president of AARP, a lobbying group for older Americans." Obama denies COLA for Seniors for three years; taking this money away from Seniors "insures that this benefit will remain secure for the foreseeable future"
Someone should give Nancy LeaMond an IQ test for this statement; no sense giving Obama an IQ test because we know he doesn't know what he is doing.

Robert L. Matarainen of NY 5:29PM June 13, 2010

President Obama and his Democrats are going to give amnesty to the Illegals before the November elections; while there are enough Democrats in Congress to vote for it. If you think SS and Medicare are being underfunded, wait till the millions and millions of Illegals start tapping the funding that We the Americans have placed into these programs. The reason the administration hasn't done anything about the Illegal situation is that The Obama Mob is waiting for the last minute before the November elections to shove this unwanted amnesty down our throats. This will destroy our economy and should be enough to impeach Obama and Mob; Obama is not upholding the Constitution.

Robert L. Matarainen of NY 3:26PM May 24, 2010