Social Security and Medicare going bankrupt faster than expected

Yesterday we brought you the sobering news about the rapid growth of the welfare state, both in recipients and dollars. Today we bring you more sobering news, that both Social Security and Medicare are going to be gone in the next 20 years, with disability being gone in the next 4 years.

But what does little Timmy Geithner say to the news of this impending doom? Only that we need to find consensus:



The Democrats had their chance and they blew it, big time. The Democrat-controlled Senate won’t even tell you how it wants to spend your tax money. And the president’s budget is built on more and more and more spending and not even Democrats will pass it. And Geithner wants consensus? How about the Democrats get together with Obama and consent to Paul Ryan’s budget and let’s save America, eh? How’s that for an idea?

No, this is exactly what they want, for America to fail. Which is why these radical leftists must be defeated in November, because they will never consent to anything that fixes this country.

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Jimbo
Member
Jimbo

Does anyone really think this is surprising? Safety net? Who’s safety net is it anyway?
This entire economic system is going to collapse one day.

hbnolikeee
Guest
hbnolikeee

so the gao said dump it and the wh said no. ok, so dump the gao since they’re useless as has just been shown.

CPAguy
Guest
CPAguy

It seems to me that the Republicans are just as supportive of the welfare state as Democrats are.

Time to end all this team politics stuff.

RobertGman
Guest
RobertGman

That’s what happens when you make it a political war to reduce FICA taxes. Obama’s “tax cut” is coming back to bite him in the butt. Republicans saw through this and tried to stop it, but SS is a hot button for most people. Hopefully Americans will see through this idiot in the fall and elect Romney.

Susanna958
Guest
Susanna958

The checks and balances only seem to work when Republicans are in power.

W.
Guest
W.

Illegal aliens have no business in our country or on welfare.

American Duckie
Member
American Duckie

It’s Bush’s fault.

Alan
Guest
Alan

Romney will only manage the decay.

NHConservative0221
Guest
NHConservative0221

I agree, but it’s the best we can do at this point. If there’s any hope of repealing Obamacare, we need to elect Romney!

He’s a RINO wimp who won’t fight to reform things, but if Congress puts an OBamacare repeal bill on his desk he’ll sign it! ROmney has promised to do so and if he wants any shot at reelection he’ll do it. There will be hell to pay otherwise.

But yes overall Romney will manage the decay and gov’t will grow. Still we need to elect him to repeal OBamacare or we’re stuck with it for life!!

Jennifer Brown McDonald
Guest
Jennifer Brown McDonald

And if social security paid out what we paid in with fair interest? For a unique look at social security read here: http://www.johnmcdonald2012.com/Social%20Security.html

TJ
Guest
TJ

Regarding what John Mcdonald 2012 said:

“Jerry McNerney, to his credit, voted to cut $500B out of Medicare which was embedded in the bill to pass Obamacare. In April 2011, President Obama offered up $340B more in cuts to Medicare. The Medicare cut Jerry helped pass and Obama’s next proposed cut will not be the end of the cost savings. The Medicare financial math simply does not allow the program to continue on as before.”

I thought the cuts to medicare were done as a way to fund Obamacare?

G_unitttt
Guest
G_unitttt

has anyone told Timmy G that he is not a community organizer and not an elected individual? as a civil servant, shouldn’t he be serving the american people and not acting as an administration cheerleader?

James13
Guest
James13

Well said. Timmy G. is just spouting Obama talking points while Social Security is quickly going broke. Will the old folks be paying attention or are they gonna buy the democrats lies that it’s Bush’s fault…… eh…..ah…. sorry I meant to say the republicans in congress’ fault….. just so used to blaming Bush I got carried away. The fact once again is that we need to start dealing with the problem now, immediately….not wait another 10 or 20 years like we have been. People in the know have been talking about the eventual collapse of Social Security for decades now and no one has done a damn thing to shore it up cause the dems use scare tactics to get the old folks to vote for the status quo…well the status quo is now gonna be a big handful of nothing by 2033…. so the old folks better vote for… Read more »

Nukeman60
Member
Nukeman60

Every time the Republicans come up with a plan to save or reform Social Security and Medicare, the Dems go into their standard ‘you’re killing our old folks’ rant, all the while Obamacare is supposed to steal half a trillion from Medicare. Half a trillion! I don’t hear the libs screaming about that! Push the program to it’s limit because no one will notice that your taking that money and spending it on other worthless programs, while you leave IOUs in Social Security files and you reduce the amount old folks get and extend the age at which they get it. A Ponsi scheme of monumental proportions. Madoff would be proud. All I want is my money back. If I could have taken my SS deductions for the last 48 years and invested it myself, I would be rich right now. Instead, I hear I probably won’t get any Social… Read more »

NHConservative0221
Guest
NHConservative0221

That’s disgusting that they force you onto Medicare!!

I highly recommend John Stossel’s new book “No They Can’t, why Gov’t fails but Individuals Succeed”.

Great chapter on health care, saying that the reason costs are so high is b/c of employer funded insurance. That if we paid ourselves or picked our own insurance we would care more about price and seek out more competition.

Stossel says imagine if we had the same type of insurance for food: that everyone would buy prime rib b/c they wouldn’t care about the price!

Nukeman60
Member
Nukeman60

Great chapter on health care, saying that the reason costs are so high is b/c of employer funded insurance‘ – NHC

That’s where we have to start. There should be no reason for people on a pension to go to Medicare, if they have a legitimate insurance policy. But, with most Union pensions, that’s the way it is set up – as a natural progression, where your good insurance becomes the supplemental part at 65 and mediocre Medicare is supposed to be the main provider. Pretty stupid. Actually sounds an awful lot like single payer. Looks like the government has been slowly getting us there all along.

Rshill7
Member
Rshill7

When we go to the doctor or dentist etc. and they ask what insurance we have, or how we’d like to pay the bill, I ask this: Do you accept money? Often they do smile

I estimate that we’ve saved over a quarter of a million dollars being self-employed and not buying health insurance…although I do not advocate this avenue. It’s a personal gamble for sure…but a quarter million dollars? We are therefore, self-insured and our policy looks exactly like a checkbook.

Nukeman60
Member
Nukeman60

My portion of the cost of my insurance is only $75/month, which is pretty darn good. Medicare would cost me ~$100/month and the supplemental would be additional. In the 10 years I’ve been retired, I haven’t needed the doctor at all. That’s a waste of $9,000. Seems like the Insurance company has done well by me. You’d think their prices would come down. smile

Sentinel
Member
Sentinel

All part of the plan. When the nation caves in, the huddled masses yearning to be free will flock to the government so Big Brother can wrap his grasping claws around us and shackle the chains for good.

These ignorant devils MUST be defeated. THERE IS NO TOMORROW if they win.

sDee
Member
sDee

Obama was sent in to loot as much as possible before the collapse. Romney is being sent in to manage the collapse and ensure the elites extract as much as possible. Just as he did with the corporations Bain cannibalized.

We could sen d in leaders to bring America back instead of managing her decline. Will we?

slhancock
Guest
slhancock

You have to wonder why people don’t realize that this administration truly wants the US to fail when the best answer Geithner could give Paul Ryan about his budget proposal was that no, they didn’t have an alternate plan, but they all agreed that they didn’t like his (Ryan’s). And, then of course, the US Senate has not passed a budget going on 4 years now. Specifically so the republicans could not challenge it, and to give the president an opportunity to say that the republicans will not go along and cut a deal so there could be one. Of course, nothing would be said that the republicans HAVE come up with budget proposals with bipartisan support all these years, only to be voted down in the Senate. Will the public remember these shenanigans? I PRAY so!

sDee
Member
sDee

I remember. The Republican establishment is an integral part of this. Theyincreased the size of government, increased spending, increased debt and raised the debt limit even when they controlled the House, Senate and the White House. Republicans have overwhelmingly voted for the last few debt ceiling increases and signed a carte blanche bill for President Hussein to raise it again at his discretion.

The only answer now is to start radically reducing the size and power of the Central Government. No one is proposing that. Elephant or donkey. Romney’s budget baseline increases Federal spending from around 14% to 20% of GDP!

How do we expect people to remember the shenanigans when we are not even willing to admit they are happening?

Government is the problem, not the solution.

NHConservative0221
Guest
NHConservative0221

Romney will be a bad president, worst possible nominee other than RuPaul.

However we need to elect him to stop the bleeding, to get the Communist out. Otherwise we have Obamacare for life!

We need to focus on COngress to get as many conservatives as possible who will create bills to cut and reform gov’t, putting pressure on Rino Mitt to sign it!

Rshill7
Member
Rshill7

No problem, bankruptcy will eliminate all debt and cause China to simply repossess us. They can mobilize an army 100 million strong and refuse to finance our defense at the same time. We’ll just assimilate into their country.

Chopsticks aren’t that difficult to use and rice is great, with a little hoarded gravy atop it. Hide your “grease” for such an ocassion. It’s just the beginning of one world disorder. We should relax and go with the flow. No?

Is America still America? No it isn’t. It’s an overburdened, depressed, mental patient on suicide watch. Are we well into “the beginning of sorrows”? Is the Antichrist going through puberty?

Maranatha! Beam me up, I’ll meet you in the air!

American Duckie
Member
American Duckie

Well said brother and Amen!

911Infidel
Member
911Infidel

Well maybe little Tmmy could do his part by paying his taxes on time. The other thing that he could do to help out is to resign and get the eff out of government. And we the people could help out by electing Repubiks for the Senate and the WH in November. Then go out and win the culture war.

NHConservative0221
Guest
NHConservative0221

I believe it was Beck that said by the year 2020 (or is it 2025) that every dollar the gov’t spends will then be spent on either Medicare, Medicaid, Social Security, or the interest on the debt!

Has anyone else heard this or know if this is supposed to be for 2020 or 2025?

MiketheMarine
Guest
MiketheMarine

They are all piles of steaming bovine excrement.

4Hoppes2
Guest
4Hoppes2

Speaking of Paul Ryans budget, this Thursday at 8:00 P.M. EST on The World Over Live with Raymond Arroyo on EWTN, Paul Ryan will be defending his budget against some of the Bishops attacks. The show reruns on Monday nights at 10:00 P.M. EST and last night there was a brief preview. Paul Ryan almost always weighs his budget proposals against Catholic teaching about social impacts. I would personnally prefer him as V.P. as opposed to Marco Rubio.

StrangernFiction
Guest
StrangernFiction

Catholic teaching about social impacts.

And no ideology has done more to diminish suffering than socialism, so good on you Catholic Church for giving aid and comfort to these humanitarian Leftists.

4Hoppes2
Guest
4Hoppes2

Well thank-you for that, but on the other hand.

Linky11
Member
Linky11

This coming from Turbo Tax Geithner, who couldn’t file his own taxes properly or on time.

aPLWBinAK
Guest
aPLWBinAK

A ponzi scheme always has a finite lifespan and is destined to fail.

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