Social Security Administration Sees Stars

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For all of the concerns about social security, I feel a whole lot better knowing the system is in place and that efforts to abandon it in favor of privatization are now dead. The government under all administrations took in more in social security taxes than that which was needed. The extra was put into an imaginary lock box. The truth is, social security obligations by the employer and the employee were met, while now there is less coming in than going out, hence the need to dip into the lock box. Unfortunately, the lock box is empty unless you think that IOU's are not going to be funded by general tax obligations. Social security is a great system, one should not have to rely on the vagaries of the stock market and having to acquire sophisticated investing knowledge in order to have a basic level of support during retirement. Politicians love to give us the candy that we demand, in exchange for our votes. Now the public is going to see that the candy must be paid for. The question is, by whom?

Nick of RI 5:10PM April 01, 2010

Why does the IRS take taxes from SS and put it in the general fund? If the money that leaves SS is credited to SS it cwould help save SS beyond the so call date when the IOU's run out.Possiblly that will occur when most of the boomers will no longer be on SS due to deaths.

Harold of NH 10:14AM March 10, 2010

Social Security was fine until the Government dipped into it. (IOU's) If we (the general population) paid it totally off, I promise you the Government would mis-management it again. The IRS wants to lock you up if you don't pay your fair share of taxes but does nothing to the thieves who take it out of the supply. Social Security would have been just fine if it was left alone as intended. Just remember when you vote, if they tell you SS won't be there or "not enough money", then don't vote for them. Vote for those who say " we will find a way to make it work". I could look around the Government and find all the wasteful spending to shore up Social Security. DON"T BE MISLED.

Roy of TX 11:11PM February 16, 2010

SS was designed as a way to collect taxes and the government not account for the money. More money was coming in than was being paid out. This would continue as the population expanded. The excess money was spent and a piece of paper put in a drawer saying that the government borrowed the loot. Never expecting to have to ever take the pieces of paper out of the drawer. During WW2 the population slowed, after the WW2 came the baby boom. Then the population slowed again and has continued. So now the babes are starting to collect and the government is stuck with the problem of having to take the pieces of paper from the drawer and pay the debt. At a time when they can no longer rip off SS. With the government borrowing about $5,000 per every person in the US in 2010 it seems that SS is about to explode. Just don't put SS in the hands of Bankers and Brokers.

D Branson of CO 1:48PM February 16, 2010

SS Disability needs to be hard to get. Its for Disabled people which you are not. If you can post on a blog, then you can work an office job. Go to Work!

Paul of FL 10:34AM February 16, 2010

We need serious reform to our SS and Medicare systems. Clearly we don't have enough money coming in to pay everyone so I'm not sure what the politicians are gonna do. They won't get elected if they cut benefits so it's a catch 22. Obviously this woman who commented deserves benefits, as does everyone really. But we need to start coming up with a better way to cut down on payments or reduce benefits (even though I hate to say it) because we just can't afford it. The first politician who says this will gain great respect from me.
I am 24 years old and completely expect not to receive SS when I'm of age.

Matt of IN 11:42PM February 09, 2010

This is a nice story but from a personal standpoint I have been denied immediately after applying for Social Security Disablity. I am a 54 year old african american woman with a heart problem, and I am also unemployed since May 2009. No further comment, I have sought an attorney due to this matter. Social security is not for everyone - and they are trying NOT to give it to you.

Arnavell Grandberry of IL 2:29PM February 01, 2010