Ask not what your government can do for you – there is a limit

The government has no business trying to run entitlement programs such as Obamacare – no business acumen whatsoever. Social Security is going bankrupt. As reported in 2010 in the New York Times, the program was already paying out more money than it had coming in (6 years before it was predicted to happen) with only IOUs in its so-called trust fund. Medicare Hospital Insurance Trust Fund expenditures have exceeded income annually since 2008 and are projected to continue doing so under current law in all future years. It could go bankrupt...

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Government can’t adequately project the needs of entitlement programs

There’s bad news for beneficiaries of the Social Security disability payments: The Disability Insurance Trust Fund is expected to run out of money in 2016. At that point, income to the trust fund will cover just 80% of benefits. The Disability Trustees are suggesting that lawmakers could reallocate a portion of the payroll tax from the Social Security retirement program to the disability program but Social Security is also running out of money. The Social Security reserves will be exhausted in 2033 and will cover only 75% of the...

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Social Security disability benefits need to be verified

According to Newsmax (3), there has been a tremendous surge in the number of Americans receiving Social Security disability benefits, something that was intended to help workers over age 50 that became physically unable to perform their job. The disability benefits are now being used for workers under age 50, disabled spouses of deceased workers, and disabled adult children who were never able to work in the first place. It also includes Americans diagnosed with mental impairments, and more than 30 percent of disability cases involve mental...

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Obama declares we are not a deadbeat nation – really?

The Associated Press in today’s Rockford Register Star article, “Obama: Fight imperils elderly’s checks,” continues the media’s misrepresentation of the facts concerning default on Social Security, unless Congress raises the debt ceiling or the legal borrowing limit. Excerpt: Declaring “we are not a deadbeat nation,” President Obama warned on Monday that Social Security checks and veterans’ benefits will be delayed if congressional Republicans fail to increase the government’s borrowing authority in a looming...

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Picture of Social Security more like that of Dorian Gray

The picture of the current financial health of Social Security is more like that of Dorian Gray, ugly and corrupt while appearing to remain the same to those who rely on it. The baby boom generation is only starting to retire and already there are less than two full time workers in the private sector for each retiree. Public sector employees usually have their own retirement systems, and are paid with tax dollars. The temporary Social Security payroll tax cut forced the program to pay out more than it has received in the last two years...

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