In response to:

On the Road to Death Panels

karen 341 Wrote: Oct 15, 2012 7:55 AM
The Baby Boomers worked all their lives and put into Social Security and this was a bargin or contract with the Government. But in the wisdom of the Government they took out the money (the first being Clinton) and put it into to a general fund and balanced the budget. The money was never returned and to this day it is being used to balance the budget. This TRUST HAS BEEN BROKEN BY THOSE WHO represent us in Washington.
Pat1392 Wrote: Oct 15, 2012 9:05 AM
I think it was Carter in 1976. Medicare went into effect around 1965. Social Security in 1933. There a lot of folks drawing on it that never actually paid into it. We might have to restructure it for one income covering two people. I think Mitt would get it in shape again.
wmou Wrote: Oct 15, 2012 8:53 AM
I have no contract with the govt regarding Social Security. For there two be a contract, both sides must agree to it. The only agreement I have is if I do not pay my SS taxes, the govt promises to come take everything I own.
James92 Wrote: Oct 15, 2012 8:49 AM
I may be mistaken, but I believe it was LBJ who first robbed the S.S. "trust fund" for the beginning of his great society. But since first becoming aware of the S. S. Ponzi scheme as a 20 year old in 1958, I realized that it would eventually fail, or would need reformed. This was all before LBJ robbed it and before a lot of other politicians expanded the benifits and added SSI, etc. Then there was the "baby boom generation" Sure they paid into it " all their lives" but not enough when compared to how much they are taking out. The numbers never did work and now they are reaching the point of no return!
tdarrington Wrote: Oct 15, 2012 8:35 AM
When SS was implemented the average lifespan was the retirement age. On average, those who put in were never expected to collect. Now with the average lifespan of about 80, the average worker will collect for 15 years. Add to that fewer workers putting in per retiree, the system is bound to collapse.
hvogel Wrote: Oct 15, 2012 8:20 AM
Scrap Iron has already pointed out the factual mistakes in your post. You also imply that everything would be just fine if Congress hadn't raided Social Security and Medicare funds. They wouldn't be fine at all. The collapse might be farther down the road, but simple demographics would still doom both programs. They should have been phased out decades ago and replaced by private plans -- ones in which you would actually own the money you paid into the system -- but short-sighted politicians, aided by short-sighted citizens, made that impossible.
Ann272 Wrote: Oct 15, 2012 8:49 AM
One of President George W. Bush's first Executive Orders was that all funds in the Social Security Administration were to remain in the Social Security Administration.
Scrap Iron in Texas Wrote: Oct 15, 2012 8:09 AM
Wrong on several points.
1) Clinton was not the first to "raid" SS money. Go back to LBJ. How do you think the Great Society was paid for?

2) Maney paid in to SS has NEVER been the property of the payee
Check out the Supreme Court Flemming v Nestod (http://en.wikipedia.org/wiki/Flemming_v._Nestor)

You are correct by stating those in DC have broken their trust with "We, the People".
J. Galt Wrote: Oct 15, 2012 9:07 AM
when created, SS began payout at age 65 when the life expectancy was 63. Today, the retired take ouf all they paid in after a few years, then live another 15-20 years. Of course I am speaking about the ones that lived here and paid in during their lives, not the ones who just arrived and then gained a free payout.
Floyd35 Wrote: Oct 15, 2012 8:05 AM
I am glad you wrote this. Many folks don't seem to realize that SS and Medicare would be just fine if it had been left alone, but Congressional Thieves saw it, wanted it, then stole it!
Rich Not wealthy Wrote: Oct 15, 2012 12:49 PM
Sorry, but it would not be 'just fine'. Both systems are ponzi schemes and were bankrupt the day they were created. The end would be farther down the road, but the end would come just as surely. If they had wanted to actually take care of old people, they would not have created those schemes to steal our money in the first place.

With the first presidential debate and the only vice-presidential debate behind us, it seems pretty clear that so-called "social issues" are not going to get much attention in this year's presidential politics.

It's unfortunate, I think. We deceive ourselves to permit the assumption that values and behavior are not the real drivers behind our economic problems.

The fiscal crisis of our entitlement programs is the direct result of these values and behavior.

The fiscal soundness of Social Security, Medicare and Medicaid is rooted in the assumption that those...