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Sat Mar 21, 2020, 12:03 PM

Online Rumor Pelosi wants to shut down SS Administration

and stop SS checks for 2 months. "Use your supplemental retirement funds". Like our big fat 401K's that have crashed into the basement? Excuse me???? Totally FALSE. Clearly Republican fear mongering.

17 replies, 1088 views

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Arrow 17 replies Author Time Post
Reply Online Rumor Pelosi wants to shut down SS Administration (Original post)
HockeyMom Mar 21 OP
mucifer Mar 21 #1
brewens Mar 21 #2
Sherman A1 Mar 21 #3
global1 Mar 21 #4
Phoenix61 Mar 21 #5
Hoyt Mar 21 #6
stopbush Mar 21 #9
Hoyt Mar 21 #11
LastDemocratInSC Mar 21 #12
SCantiGOP Mar 21 #13
Hoyt Mar 21 #14
SCantiGOP Mar 21 #15
Hoyt Mar 21 #17
jpak Mar 21 #7
stopbush Mar 21 #8
TwilightZone Mar 21 #10
SCantiGOP Mar 21 #16

Response to HockeyMom (Original post)

Sat Mar 21, 2020, 12:05 PM

1. Yup friend of mine works for social security in Chicago. They are now working from home

they finally got them out of that big building.

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Response to HockeyMom (Original post)

Sat Mar 21, 2020, 12:07 PM

2. Look for a run on pitch forks and tiki torches! Not a chance that is true, but the half-wits

might fall for it.

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Response to HockeyMom (Original post)

Sat Mar 21, 2020, 12:09 PM

3. There is no way in hell

That there is an ounce of truth to that rumor.

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Response to HockeyMom (Original post)

Sat Mar 21, 2020, 12:10 PM

4. That's Absurd - Seniors Are High Risk To Begin With....

and rely on that check. If anything - they should increase the monthly checks. It would be very easy to do that because the system is already set up to distribute $'s to Seniors.

Those spreading this rumor is only contributing to more stress being foisted on an already stressed Senior population.

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Response to HockeyMom (Original post)

Sat Mar 21, 2020, 12:26 PM

5. Russian psy-ops at its finest. nt

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Response to HockeyMom (Original post)

Sat Mar 21, 2020, 12:30 PM

6. Not likely. However, if this situation continues to deteriorate, don't be surprised at some of

options considered down the road.

Even before this happened the SS Trust Fund was scheduled to have to cut benefits 24% on average in the 2030s. We kept kicking the can down the road, doing nothing, not even considering discussions of how that might be improved.

Now, a big chunk of young working people -- who actually pay for old folks' SS benefits -- are going to be unemployed, perhaps for long periods. There may be millions more people who become disabled from the C-Virus.

Do the math, and try to project what might happen if we have to throw everything at getting us out of C-virus curse.

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Response to Hoyt (Reply #6)

Sat Mar 21, 2020, 12:52 PM

9. I think the only change that's coming is to remove the cap on income subject to SS payroll taxes.

That would make SS solvent in perpetuity.

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Response to stopbush (Reply #9)

Sat Mar 21, 2020, 12:57 PM

11. Yeah, if there are still high incomes to tax and we still have to pay increased benefits to those

over today's cap.

Plus, if we keep throwing unemployment, personal stimulus checks, bailouts, etc., at this -- which I think we have to -- we are going to have to dramatically increase taxes just to keep that going.

I don't know the exact figure, but I suspect we eliminated $30 Trillion of wealth that would have been available to tax a few months ago. And, it will get worse.

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Response to stopbush (Reply #9)

Sat Mar 21, 2020, 01:20 PM

12. You are correct. Just moving the cap a bit higher would be an improvement.

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Response to Hoyt (Reply #6)

Sat Mar 21, 2020, 02:00 PM

13. saying that social security payments could be delayed, ended or reduced

Is nothing more than spreading Russian, GOP and other troll information.
It is absurd to even discuss this.

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Response to SCantiGOP (Reply #13)

Sat Mar 21, 2020, 02:10 PM

14. Read the Trustee's Reports from Obama's Admin. That's not Russian, it's a fact.

And, now, the conditions are much worse.

"Conclusion

"Under the intermediate assumptions, DI Trust Fund asset reserves are projected to become depleted in the third quarter of 2023, at which time continuing income to the DI Trust Fund would be sufficient to pay 89 percent of DI scheduled benefits. Therefore, legislative action is needed soon to address the DI programís financial imbalance. The OASI Trust Fund reserves are projected to become depleted in 2035, at which time OASI income would be sufficient to pay 77 percent of OASI scheduled benefits. . . . . . . "

https://www.ssa.gov/OACT/TR/2016/tr2016.pdf

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Response to Hoyt (Reply #14)

Sat Mar 21, 2020, 02:14 PM

15. Is this supposed to bolster your point?

That a shortfall in 15 years will result in action now in the midst of the greatest crisis since WW2?
This country operates in debt. I really don't think either party wants to guarantee their quick disappearance by taking action to literally kill millions of older Americans.

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Response to SCantiGOP (Reply #15)

Sat Mar 21, 2020, 02:50 PM

17. No, my point was, and still is, that the deficit will get worse with millions unemployed.

In fact, this "greatest crisis since WWII" could move the automatic cuts up a decade because tens of millions of young people might not be putting money into system.

But, hey, why try to convince folks that the "greatest crisis since WWII" might result in some hardships unthinkable a month ago -- like cutting benefits for those getting $2,000 a month in SS benefits to increase those at the lower end close to $1,000, or even worse.

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Response to HockeyMom (Original post)

Sat Mar 21, 2020, 12:48 PM

7. Bullshit

Ugh

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Response to HockeyMom (Original post)

Sat Mar 21, 2020, 12:50 PM

8. They always go too far with the outlines of their anti-D hoaxes.

Thatís the give away - running abortion clinics out of pizza parlors, building internment camps in Texas, etc.

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Response to HockeyMom (Original post)

Sat Mar 21, 2020, 02:18 PM

16. There is a forum for Creative Speculation

It is specifically designed to keep crap like this out of the (hopefully) serious forums.

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