US Social Security

[placeholder]

2 hours ago, hotsun said:

Alternate universe is the future, yes

Do I need to explain to you by invoking the future as evidence is not valid? Unless, of course, you're a time traveler.

[jas007]

3 minutes ago, placeholder said:

Yes the costs are through the roof in some areas of the economy. But why is that the fault of the dollar. Prices rise for all kinds of reasons. The recent battle of inflation was pretty much worldwide. It wasn't just about the dollar. But there was one big exception: China. Where there's actually deflation. Do you think the Chinese economy is in good shape? It has some bright spots but overall not. Once again it's purchasing power that counts. The dollar has been inflating for a century at least. During that time Americans reached an unprecedented level of prosperity. How do you reconcile that with inflation? High inflation is a symptom or consequence, not a cause.

 How do I reconcile that with inflation? Simple. Debt. Debt that is unsustainable and a banking system that is currently on life support. The failure of it all is just a matter of time. So far, they've managed to keep it all afloat, but not without a lot of trickery.  Every time there's a crisis, the Fed has an "infinite" supply of money to give to the banks, to Wall Street, and to seemingly anyone else who needs it.  The Fed even bailed out overseas banks.  Did you know that?  During his term, Greenspan once said:  "Anyone on Wall Street that needs any money, give it to them."  Fast forward to 2025 and we now have a banking system that's "too big to fail."  It's stated policy.  The "Fed put."

 

Do I think Trump can fix any of this and "Make America Great Again"?  Nope.  But we had all better hope those guys are successful at what they're trying to do. Maybe the decline of the US Empire can be managed. Maybe it'll just fade away over a few hundred years like every other empire in history. I'd be OK with that.  If Trump and his team fail,  it won't be a pretty picture.  However much "money" you think you have, it won't be enough.  

[hotsun]

3 minutes ago, jas007 said:

 How do I reconcile that with inflation? Simple. Debt. Debt that is unsustainable and a banking system that is currently on life support. The failure of it all is just a matter of time. So far, they've managed to keep it all afloat, but not without a lot of trickery.  Every time there's a crisis, the Fed has an "infinite" supply of money to give to the banks, to Wall Street, and to seemingly anyone else who needs it.  The Fed even bailed out overseas banks.  Did you know that?  During his term, Greenspan once said:  "Anyone on Wall Street that needs any money, give it to them."  Fast forward to 2025 and we now have a banking system that's "too big to fail."  It's stated policy.  The "Fed put."

 

Do I think Trump can fix any of this and "Make America Great Again"?  Nope.  But we had all better hope those guys are successful at what they're trying to do. Maybe the decline of the US Empire can be managed. Maybe it'll just fade away over a few hundred years like every other empire in history. I'd be OK with that.  If Trump and his team fail,  it won't be a pretty picture.  However much "money" you think you have, it won't be enough.  

its a wealth transfer, the legacy system is being replaced by sound money. Its inevitable

[stevenl]

2 hours ago, hotsun said:

Paper money is infinite. Inherently worthless

Which is why you recommend to invest in bitcoin? Lol.

[hotsun]

1 minute ago, stevenl said:

Which is why you recommend to invest in bitcoin? Lol.

Do a minute of research, oh wait youre a lefty you just believe what youre told

[stevenl]

5 minutes ago, hotsun said:

Do a minute of research, oh wait youre a lefty you just believe what youre told

So you got nothing but a compliment. Unfortunately I'm not a lefty so i can't even accept your compliment.

[hotsun]

1 minute ago, stevenl said:

So you got nothing but a compliment. Unfortunately I'm not a lefty so i can't even accept your compliment.

A little more CNN coverage of it might prompt you to buy some

[sqwakvfr]

Many years ago I was dating girl whose mother died.  I helped her by closing out the mother's affairs.  The mother was collecting social security and one of the things I did was to take her to the local SS office(this was when there were many offices around) and notify  SSA of the receipients death.  The benefits were then shortly terminated.  The girl's brothers and sisters completely lost it.  The girl became the pariah of the family because she had the SS beneftis terminated by reporting the mothers death. In the minds of the other family members why not just let the money keep rolling in.  I believe this type of thinking is common amongst some family members.  They did  not see anything wrong with.  

 

Without the family reporiing the death it can SSA some time before they found about the death of a recipient.  Of course the reverse can happen and a living person can be mistakenly be reported as deceased. 

[connda]

On 3/22/2025 at 8:21 AM, pchansmorn said:

Are any American Expats worried Trump will stop there retirement income?  He’s headed for that next step.  He will destroy the SS system and Americans won’t have money to live on anymore.  We have our savings but it won’t last forever.  A reverse mortgage may be in our future.

No.  It's still a "third-rail" issue for both Republicans and Democrats. If he axed Social Security the Democrats would own Congress and the Presidency in 2028.

[placeholder]

30 minutes ago, jas007 said:

 How do I reconcile that with inflation? Simple. Debt. Debt that is unsustainable and a banking system that is currently on life support. The failure of it all is just a matter of time. So far, they've managed to keep it all afloat, but not without a lot of trickery.  Every time there's a crisis, the Fed has an "infinite" supply of money to give to the banks, to Wall Street, and to seemingly anyone else who needs it.  The Fed even bailed out overseas banks.  Did you know that?  During his term, Greenspan once said:  "Anyone on Wall Street that needs any money, give it to them."  Fast forward to 2025 and we now have a banking system that's "too big to fail."  It's stated policy.  The "Fed put."

 

Do I think Trump can fix any of this and "Make America Great Again"?  Nope.  But we had all better hope those guys are successful at what they're trying to do. Maybe the decline of the US Empire can be managed. Maybe it'll just fade away over a few hundred years like every other empire in history. I'd be OK with that.  If Trump and his team fail,  it won't be a pretty picture.  However much "money" you think you have, it won't be enough.  

You mean like hope that they succeed in passing tax cuts because that will also help the debt problem? Can you explain to me how that works?

[stevenl]

8 minutes ago, hotsun said:

A little more CNN coverage of it might prompt you to buy some

Looks like you're behind on your responses. This answer should be to my previous post, after you claimed the dollar is worthless since it's infinite and therefore recommend buying bitcoin. 

[hotsun]

1 minute ago, stevenl said:

Looks like you're behind on your responses. This answer should be to my previous post, after you claimed the dollar is worthless since it's infinite and therefore recommend buying bitcoin. 

Did you even know that bitcoin is finite?

[stevenl]

2 minutes ago, hotsun said:

Did you even know that bitcoin is finite?

In theory it is. 

[hotsun]

5 minutes ago, stevenl said:

In theory it is. 

Its as real as the rest of the internet, and its not going anywhere

[placeholder]

39 minutes ago, jas007 said:

 How do I reconcile that with inflation? Simple. Debt. Debt that is unsustainable and a banking system that is currently on life support. The failure of it all is just a matter of time. So far, they've managed to keep it all afloat, but not without a lot of trickery.  Every time there's a crisis, the Fed has an "infinite" supply of money to give to the banks, to Wall Street, and to seemingly anyone else who needs it.  The Fed even bailed out overseas banks.  Did you know that?  During his term, Greenspan once said:  "Anyone on Wall Street that needs any money, give it to them."  Fast forward to 2025 and we now have a banking system that's "too big to fail."  It's stated policy.  The "Fed put."

 

Do I think Trump can fix any of this and "Make America Great Again"?  Nope.  But we had all better hope those guys are successful at what they're trying to do. Maybe the decline of the US Empire can be managed. Maybe it'll just fade away over a few hundred years like every other empire in history. I'd be OK with that.  If Trump and his team fail,  it won't be a pretty picture.  However much "money" you think you have, it won't be enough.  

Also it's interesting that you brought up the financial crash of 2008. Did you know that Canada's banking system survived that unscathed? You know why? Strict regulation, that's why. Trump wants to loosen regulation of the banks. How do you think that's going to turn out?

[riclag]

22 minutes ago, connda said:

No.  It's still a "third-rail" issue for both Republicans and Democrats. If he axed Social Security the Democrats would own Congress and the Presidency in 2028.

Someone mentioned that he wanted to enact no tax on SSA benefits to seniors !

He sticks to his promises !

 

Why dissolve Ssa and promise to enact 

legislation to stop taxing SSA seniors?

 

More scare tactics by the party who supports everything wrong about my country!

The country was going in the wrong direction , the left can’t bare to see it go opposite of the last 4 years.

[placeholder]

1 hour ago, jas007 said:

Blood in the streets?  That might happen, but it probably won't be from rioting grandmas and grandpas.  

 

Will some people lose out in the process? Sure. The fraudsters and the people who have been scamming the system for years. The people collecting checks who don't even show up to work. They'll be screaming bloody murder and they'll be torching car dealerships and they'll be trying to blame everyone but themselves. 

Do me like the 20 million plus fake centenarians whom musk found?

[Hawaiian]

48 minutes ago, sqwakvfr said:

Many years ago I was dating girl whose mother died.  I helped her by closing out the mother's affairs.  The mother was collecting social security and one of the things I did was to take her to the local SS office(this was when there were many offices around) and notify  SSA of the receipients death.  The benefits were then shortly terminated.  The girl's brothers and sisters completely lost it.  The girl became the pariah of the family because she had the SS beneftis terminated by reporting the mothers death. In the minds of the other family members why not just let the money keep rolling in.  I believe this type of thinking is common amongst some family members.  They did  not see anything wrong with.  

 

Without the family reporiing the death it can SSA some time before they found about the death of a recipient.  Of course the reverse can happen and a living person can be mistakenly be reported as deceased. 

https://www.usa.gov/family-legal-issues This is what should be done.

[Hawaiian]

43 minutes ago, placeholder said:

Also it's interesting that you brought up the financial crash of 2008. Did you know that Canada's banking system survived that unscathed? You know why? Strict regulation, that's why. Trump wants to loosen regulation of the banks. How do you think that's going to turn out?

Lowering reserves means more money to invest to increase profits.  Everything is fine until the economy takes a dive and investments go south.

[gargamon]

2 hours ago, riclag said:

Thank you it was a brilliant response!

I ‘m happy your response came after the op’s opinion . After reading your response many 

innocent Unsuspecting expats would see its just another leftist opinion!

Only the opinion of another <removed> afflicted person. That's Trump Dicksu**er Syndrome.

[placeholder]

1 minute ago, Hawaiian said:

Lowering reserves means more money to invest to increase profits.  Everything is fine until the economy takes a dive and investments go south.

From a microeconomic viewpoint that might be true. But this is about macroeconomics. Are there insufficient funds now for lending? Giving all the dubious investments being made nowadays It seems more likely lose too much cash floating around thanks to huge tax cuts

[placeholder]

5 minutes ago, Hawaiian said:

Lowering reserves means more money to invest to increase profits.  Everything is fine until the economy takes a dive and investments go south.

 Remember the last time reserves were allowed to be so low? How did that turn out?

[Hawaiian]

24 minutes ago, placeholder said:

 Remember the last time reserves were allowed to be so low? How did that turn out?

That was my point.

[placeholder]

4 minutes ago, Hawaiian said:

That was my point.

Oh irony. Now I get it.

[Presnock]

2 hours ago, Hawaiian said:

What happens when the grandmas and grandpas can't pay their bills and turn to their children and grandchildren for survival?  There are more guns in America than people and they are not all owned  by young people.

Yeah remember, 30 percent of govt workers who are being terminated too are military veterans!  cut medicade and military vets suffering from agent orange and receiving medicade benefits aren't so in love with Trump anyway.   The current military are watching how the vets are being treated too so when told to go in harms way, some may not do so IMHO.  I too am a vet and I know how I feel about the number one draft dodger.

[Presnock]

42 minutes ago, Hawaiian said:

Lowering reserves means more money to invest to increase profits.  Everything is fine until the economy takes a dive and investments go south.

oh you mean like today in the US?

[jas007]

1 hour ago, placeholder said:

You mean like hope that they succeed in passing tax cuts because that will also help the debt problem? Can you explain to me how that works?

In reality, or in fantasyland? 

 

In reality, tax cuts, without more, will enable more of the same nonsense.  Expand the debt and kick the can down the road.  It works until such time as it doesn't and then we're all in trouble.  Whether you know it or not, America and much of the rest of the world exists in a debt based system.  You think you have money?  Unless you have gold or silver, you have debt.  Your dividend payments are debt.  Your retirement funds are probably packed with lots of debt based instruments. Even Social Security is backed by debt.  The Social Security "trust fund" is nothing but a bunch of special purpose US bonds.  Of course, some payments are paid into the system by those currently working. But at some point in the future, those payments won't cover the benefits owed.  I think the current system runs short in the year 2034 or so, unless they make some changes. 

 

In Trump fantasyland, which I happen to think is our best hope right now, tax cuts help keep everything afloat while his tariffs works their magic.  Short term economic pain in exchange for a more prosperous future without the rest of the world leeching off America.  We had all better hope that Tump and his team are successful in pulling that off.

 

Unfortunately, there are some people who have been well and truly brainwashed.  They really do think their problem is Elon Musk, one of the people trying to save the system.  Ands yet why would anyone want to help the people committing waste, fraud, and abuse? Why would anyone be happy that other people are living off their hard earned pay?  It's a truly insane position to think that way.  

 

In a worst case scenario, the US dollar may well have another five years or so as the world's reserve currency.  It's in need around the world for various reasons, and isn't going to just disappear overnight.  Use that five years wisely, if you can.  It may be your only hope to get out of this mess in one piece. 

[placeholder]

18 minutes ago, jas007 said:

In reality, or in fantasyland? 

 

In reality, tax cuts, without more, will enable more of the same nonsense.  Expand the debt and kick the can down the road.  It works until such time as it doesn't and then we're all in trouble.  Whether you know it or not, America and much of the rest of the world exists in a debt based system.  You think you have money?  Unless you have gold or silver, you have debt.  Your dividend payments are debt.  Your retirement funds are probably packed with lots of debt based instruments. Even Social Security is backed by debt.  The Social Security "trust fund" is nothing but a bunch of special purpose US bonds.  Of course, some payments are paid into the system by those currently working. But at some point in the future, those payments won't cover the benefits owed.  I think the current system runs short in the year 2034 or so, unless they make some changes

 

Even if the social security trust fund ran out would be able to pay I believe 91% of benefits. There was a poll done recently and overwhelmingly even Republicans would be willing to increase their social security tax payments to secure the solvency of the system.

 

[placeholder]

22 minutes ago, jas007 said:

In reality, or in fantasyland? 

 

In reality, tax cuts, without more, will enable more of the same nonsense.  Expand the debt and kick the can down the road.  It works until such time as it doesn't and then we're all in trouble.  Whether you know it or not, America and much of the rest of the world exists in a debt based system.  You think you have money?  Unless you have gold or silver, you have debt.  Your dividend payments are debt.  Your retirement funds are probably packed with lots of debt based instruments. Even Social Security is backed by debt.  The Social Security "trust fund" is nothing but a bunch of special purpose US bonds.  Of course, some payments are paid into the system by those currently working. But at some point in the future, those payments won't cover the benefits owed.  I think the current system runs short in the year 2034 or so, unless they make some changes. 

 

In Trump fantasyland, which I happen to think is our best hope right now, tax cuts help keep everything afloat while his tariffs works their magic.  Short term economic pain in exchange for a more prosperous future without the rest of the world leeching off America.  We had all better hope that Tump and his team are successful in pulling that off.

 

 

I noticed that you use the word magic about Trump's tax cuts. Since the situation is so grave why do you support taking a huge chance on tariffs when overwhelmingly economists Believe it's only going to make the problem worse not better what we got all better hope is that the tax cuts are allowed to die and no new ones instituted. Better yet, also undo the tax cuts that favored the wealthy and aren't due to expire.

 

[placeholder]

25 minutes ago, jas007 said:

In reality, or in fantasyland? 

 

In reality, tax cuts, without more, will enable more of the same nonsense.  Expand the debt and kick the can down the road.  It works until such time as it doesn't and then we're all in trouble.  Whether you know it or not, America and much of the rest of the world exists in a debt based system.  You think you have money?  Unless you have gold or silver, you have debt.  Your dividend payments are debt.  Your retirement funds are probably packed with lots of debt based instruments. Even Social Security is backed by debt.  The Social Security "trust fund" is nothing but a bunch of special purpose US bonds.  Of course, some payments are paid into the system by those currently working. But at some point in the future, those payments won't cover the benefits owed.  I think the current system runs short in the year 2034 or so, unless they make some changes. 

 

In Trump fantasyland, which I happen to think is our best hope right now, tax cuts help keep everything afloat while his tariffs works their magic.  Short term economic pain in exchange for a more prosperous future without the rest of the world leeching off America.  We had all better hope that Tump and his team are successful in pulling that off.

 

Unfortunately, there are some people who have been well and truly brainwashed.  They really do think their problem is Elon Musk, one of the people trying to save the system.  Ands yet why would anyone want to help the people committing waste, fraud, and abuse? Why would anyone be happy that other people are living off their hard earned pay?  It's a truly insane position to think that way.

If Elon Musk is so sincere in his attempts to save the system. Why is he making it impossible to check on the truth of his claims? And why do you believe he's trying to save the system? He's made no secret of anger at the system that doesn't let him do whatever he wants. 

And where is the actual evidence of this massive fraud waste and abuse? His claims have been repeatedly and massively debunked. Why are you so gullible?