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Wed Apr 3, 2013, 11:34 PM

Day 4 SSD blogathon: SS is not going broke by 2033, stop saying it Dems

Last edited Thu Apr 4, 2013, 11:30 PM - Edit history (2)

Each year the Social Security Trustees issue a report that contains 4 scenarios, Intermediate Cost, High Cost, Low Cost, and a Stochastic Model. In 1998 Economist Dean Baker wrote an article entitled Nine Misconceptions About Social Security. In the article Dean writes:

Social Security projections are based on extremely pessimistic economic assumptions: that growth will average just 1.8 percent over the next twenty years, a lower rate than in any comparable period in U.S. history; that growth will slow even further in later years, until the rate is less than half the 2.6 percent of the past twenty years; that there will be no increase in immigration even when the economy experiences a labor shortage because of the retirement of the Baby Boom generation; and that this labor shortage will not lead to a rapid growth in wages. Both possibilities excluded in these projections—increased immigration and rapid wage growth—would increase the fund's revenues. These projections are genuinely a worst-case scenario.


When discussing the projections of the SS Trustees one should understand that the Office of the Chief Actuary publishes the SS Trustees report, runs and directs "a program of actuarial estimates and analyses relating to SSA-administered retirement, survivors and disability insurance programs and to proposed changes in those programs".

Actuaries have a responsibility to provide "conservative statutory accounting reporting provides a reasonable level of assurance that an insurer’s resources are adequate to meet its policyholder obligations at all times", according to the US Insurance Financial Solvency Core Principle 4, of theNational Association of Insurance Commissioners.

6 Political Appointees are the SS Trustees: Executive Summary is a political document.

The Political appointees are the ones who issue the Executive Summary, they have little to do with the actual Actuaries and Economists who assemble the projections, charts and tables. The Executive Summary is a purely political document, and that's all the average person hears about. The Social Security Trust Fund will be depleted by 2030 and can only pay 76% of benefits. OMG the sky will fall in 2033 ! ! !

Hey you with the sourpuss face, this party is just getting started ! !



More:

http://www.dailykos.com/story/2013/03/28/1197514/-Day-4-SSD-blogathon-SS-is-not-going-broke-by-2033-stop-saying-it-Dems

EDIT:



EDIT:

Thank You DU

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Reply Day 4 SSD blogathon: SS is not going broke by 2033, stop saying it Dems (Original post)
FogerRox Apr 2013 OP
JDPriestly Apr 2013 #1
FogerRox Apr 2013 #17
drm604 Apr 2013 #2
HiPointDem Apr 2013 #3
FogerRox Apr 2013 #13
Why Syzygy Apr 2013 #4
msongs Apr 2013 #5
FogerRox Apr 2013 #16
Melissa G Apr 2013 #23
FogerRox Apr 2013 #24
Melissa G Apr 2013 #29
woo me with science Apr 2013 #6
WillyT Apr 2013 #7
FogerRox Apr 2013 #15
idwiyo Apr 2013 #8
deutsey Apr 2013 #9
FogerRox Apr 2013 #22
Oilwellian Apr 2013 #10
FogerRox Apr 2013 #12
on point Apr 2013 #11
FogerRox Apr 2013 #14
Lifelong Protester Apr 2013 #18
FogerRox Apr 2013 #19
limpyhobbler Apr 2013 #20
FogerRox Apr 2013 #21
Liberal_Dog Apr 2013 #25
FogerRox Apr 2013 #26
Nite Owl Apr 2013 #27
FogerRox Apr 2013 #28
Nite Owl Apr 2013 #30

Response to FogerRox (Original post)

Thu Apr 4, 2013, 01:15 AM

1. Thank you.

Another lie brought to you by the same types who brought you the War in Iraq.

Thank you for the excellent explanation of the flaws in the math behind the dire projections regarding Social Security.

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Response to FogerRox (Original post)

Thu Apr 4, 2013, 01:17 AM

2. K&R

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Response to FogerRox (Original post)

Thu Apr 4, 2013, 01:48 AM

3. kr. but i think you should post in gd too. it gets more eyes there.

 

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Response to HiPointDem (Reply #3)

Thu Apr 4, 2013, 12:05 PM

13. I know, but I took the chance this might take off, and it has.

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Response to FogerRox (Original post)

Thu Apr 4, 2013, 02:44 AM

4. k/r n/t

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Response to FogerRox (Original post)

Thu Apr 4, 2013, 03:59 AM

5. you will notice the head of the party is pretty silent on the issue of defending SS nt

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Response to msongs (Reply #5)

Thu Apr 4, 2013, 12:51 PM

16. Supposedly Obama is going to propose Chained CPI April 10th

In his budget proposal. We need to ramp it up. You can help by signing and sharing, and sharing, and sharing.

https://petitions.whitehouse.gov/petition/tell-gop-and-nation-no-cuts-social-security-benefits-no-chained-cpi-no-superlative-cpi-will-be/zKtxRL3K

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Response to FogerRox (Reply #16)

Thu Apr 4, 2013, 09:05 PM

23. Thanks, Foger!

Petition signed.
It will be a dark day if Obama proposes a SS cut . I hope he doesn't.

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Response to Melissa G (Reply #23)

Thu Apr 4, 2013, 09:28 PM

24. May finally split the Dem Party

Unconscionable.

Plus chained CPI is a stealth income tax increase, in 8 years it totally screws working Americans, accelerating income disparity - thats already as bad as 1929.

http://www.dailykos.com/story/2013/03/26/1197150/-Chained-CPI-is-a-stealth-tax-increase

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Response to FogerRox (Reply #24)

Thu Apr 4, 2013, 10:56 PM

29. It is Unconscionable.

Thanks for the link and your excellent research. Great to see you again!

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Response to FogerRox (Original post)

Thu Apr 4, 2013, 09:32 AM

6. K&R

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Response to FogerRox (Original post)

Thu Apr 4, 2013, 09:54 AM

7. K & R !!!


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Response to WillyT (Reply #7)

Thu Apr 4, 2013, 12:25 PM

15. WillyT good to see you here. Thanks.

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Response to FogerRox (Original post)

Thu Apr 4, 2013, 09:56 AM

8. K&R

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Response to FogerRox (Original post)

Thu Apr 4, 2013, 10:05 AM

9. k&r

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Response to deutsey (Reply #9)

Thu Apr 4, 2013, 07:31 PM

22. Thanks

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Response to FogerRox (Original post)

Thu Apr 4, 2013, 10:20 AM

10. Petition and Letter signed

Please everyone, do the same and go sign the petition and letter!

White House Letter

White House Petition

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Response to Oilwellian (Reply #10)

Thu Apr 4, 2013, 12:04 PM

12. Thanks

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Response to FogerRox (Original post)

Thu Apr 4, 2013, 11:45 AM

11. Plus any problems it does have are EASY to fix!!

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Response to on point (Reply #11)

Thu Apr 4, 2013, 12:25 PM

14. creating 20 million jobs and raising the min wage would see SS thru 2090

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Response to FogerRox (Reply #14)

Thu Apr 4, 2013, 01:16 PM

18. Has your posting been the "Picture of the Day?"

It ought to be. It defines a 'fix', if one is needed, in the best possible way.

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Response to Lifelong Protester (Reply #18)

Thu Apr 4, 2013, 01:37 PM

19. thank you. I've read every SS Trustees report since 2005

and looked at parts of most going back to 1997. What I learned was job creation, wage growth are 2 large order effects on SSTF revenues.

SS as we know it today is not designed to survive 20+ years of recession. job creation and raising the min wage are the simplest but yet have the farthest impact and reach of any so called fix.

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Response to FogerRox (Original post)

Thu Apr 4, 2013, 04:44 PM

20. k/r

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Response to limpyhobbler (Reply #20)

Thu Apr 4, 2013, 06:31 PM

21. Thanks

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Response to FogerRox (Original post)

Thu Apr 4, 2013, 09:54 PM

25. K & R

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Response to Liberal_Dog (Reply #25)

Thu Apr 4, 2013, 10:32 PM

26. Thanks you Liberal_Dog.

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Response to FogerRox (Original post)

Thu Apr 4, 2013, 10:45 PM

27. Does he care?

I've signed every petition, written emails, made phone calls, tweeted. I'm sure most of us have but I really don't think he cares about us one bit. He doesn't need to answer to us and those he does need to answer to want SS and Medicare destroyed. They want the $$$$.
He doesn't seem to care much about the Democratic Party either. I hope I am wrong and he stops the offering up of seniors and the disabled.

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Response to Nite Owl (Reply #27)

Thu Apr 4, 2013, 10:53 PM

28. Yeah............. there is that

But that wont stop me.

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Response to FogerRox (Reply #28)

Thu Apr 4, 2013, 11:28 PM

30. No, we can't stop!

I couldn't in good conscience not do anything. Lose the battle, win the war...

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