May
31
2013

Tweet of the Day, I Ain’t Expecting Any Social Security Payout, Either edition.

Not one dime, as presently configured.

Although, ironically, it is the goal of the Democratic party to stave off the date of insolvency for just long enough for my generation to be dead of old age before the final crash. Which means that, by calling for drastic reform of the system, I’m actually arguing against my long-term interests, and in favor of those of the generation right after mine. Because – unlike the Democratic leadership – I’m not an evil bastard.

4 Comments

  • Luke says:

    Of course, even *that* is counting IOUs from the government, to the government, as actual assets.
    In reality, it’s already insolvent. More money is going out, than is coming in. How long that fact can be papered over is an open question.

  • Jeff Weimer says:

    According to that, it will be insolvent 2 years before we turn 65. So no, our Generation gets the shaft after the boomers get the fun, as it always has been.

  • I’ve known for a long time I won’t be getting anything that I’ve paid. Keep everything and just let me opt out know. I think we can all guess how much those iou’s from the feds will be worth after a few decades of QE…

  • Subotai Bahadur says:

    Slightly different [but just as pessimistic] viewpoint. I turn 62 shortly. Went to apply for SS. What I will get is going to only be a couple of hundred dollars a month anyway. I have a state pension, and there is a catch in the law that cuts my SS by 3/4 because I have a state pension, despite having paid in to both.

    Talking to the nice young lady at the SSA office, I pointed out that I was taking the early retirement because; a) due to the state pension provision, the difference between 62 and 66 was less than $70 a month, b) I may not be here by then, c) SS may not be here by then, and d) since the entire SS “Trust Fund” consists of Treasury Bills of dubious future worth, and because there is a built in delay in getting into the system and I am filing the paperwork before my birthday, that it may collapse before I get my first check.

    The nice young lady agreed with me completely.

    I rather expect that the Ponzi scheme is closer to an end than most people expect.

    Subotai Bahadur

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