Social security now predicted to run out in 10 years

[frugal-one]

Supposedly, it was 15 years but now because of all that is going on the timeframe has gone down. I saw people can now borrow $5000 from future soc sec and have their start time 3 months later. Seems that if a person is waiting to age 70 or for full benefits it may no longer be beneficial????

[Teacher Terry]

Borrowing money means they will have a smaller benefit in the future. It’s a bad idea.

[JaneV2.0]

They should have removed the contribution cap years ago. And upped the percentage taken out for higher incomes. It's not rocket science.

[iris lilies]

Borrowing money means they will have a smaller benefit in the future. It’s a bad idea.
Depends on one’s death date.

[jp1]

Meh. Republicans like to say scary things. Unless their, and yppej’s, goal of killing off all the old people is wildly successful, SS is not going to be cut any time soon. There’s a reason it’s the ‘third rail of politics’. Geriatric folks VOTE with a capital V.

On the other hand if the republicans and yppej are successful then who knows. Maybe they can succeed in killing off enough old people to make them irrelevant to discussions of public policy. Although if that happens then the SS trust fund will also have an abundance of extra money in it so cuts in benefits won’t be needed.

[Yppej]

Meh. Republicans like to say scary things. Unless their, and yppej’s, goal of killing off all the old people is wildly successful, SS is not going to be cut any time soon. There’s a reason it’s the ‘third rail of politics’. Geriatric folks VOTE with a capital V.

On the other hand if the republicans and yppej are successful then who knows. Maybe they can succeed in killing off enough old people to make them irrelevant to discussions of public policy. Although if that happens then the SS trust fund will also have an abundance of extra money in it so cuts in benefits won’t be needed.

My goal is not to kill off old people and you know it. My goal is for them to protect themselves by staying home. You stay home, and have only mentioned going on one hike where you were outdoors and could distance. They should emulate you.

I have visited my elderly parents a few times outdoors 10+ feet away. If they die it will not be because of me. It will be because my mother is bored and goes shopping all the time, thinking a mask will protect her.

I do think the idea of replacing Social Security with a UBI for everyone regardless of age is an interesting one, or perhaps a UBI that encompasses those who are not seniors but which would encompass those on SSI or SSDI.

[Teacher Terry]

I am not for UBI as I don’t think we need to give money to people that don’t need it. Many people on SSDI or just retired SS make more than they would on UBI.

[LDAHL]

I thought that $5K for three months deal was just a proposal at this point.

As to jp’s let’s kill grandma strategy, I doubt either party is capable of that kind of long term thinking. It will probably have to wait for a back-end equivalent of Planned Parenthood.