Behind the veil of Social Security

Digging into the meat of one of the nation's largest and most controversial programs.

Social Security Fact Check

Now that Social Security is paying more in benefits than it collects in taxes, there is a fierce debate among politicians, academics and advocates about whether those shortfalls are adding to the federal budget deficit

Social Security Finances

As millions of baby boomers flood Social Security with applications for benefits, the program's $2.7 trillion surplus is starting to look small.

Social Security in Europe

Compared with most public pension systems in Europe, Social Security is downright frugal.

Comments

Albanite 1 year, 8 months ago

Just give us back what we've paid in. But to go with the Ryan plan and simply steal from anyone who is between 45 and 55 after we've paid in for all these years is nothing short of criminal.

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Thurman 1 year, 8 months ago

Look into the Obama Administration's plans to void the pensions of thousands of retired American auto workers who are left with no choice in their early '60's but to draw Social Security. This, in itself, created a significant strain on the Social Security System within the last calendar year, approximately 274,000 auto workers filing for Social Security claims who should be drawing pensions from the auto makers retirement fund(s).

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waltspecht 1 year, 8 months ago

Wouldn't they have drawn Social Security right along with the Auto-workers retirement like the older ones I know doing just that? Or were the Auto-workers one of those groups that were allowed to contribute to their fund only by a preferrential Governmental treatment option? Like the Railroads, Municipal. State and Federal Employees? Oh ya, those Congressman and Seneators that only started contributing a few years ago.

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waltspecht 1 year, 8 months ago

With Obahma's Payroll cut tax cutting the payments into Social Security in half he has simply hurried it's demise so he can accomplish his desired end to the program.

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Trustbuster 1 year, 8 months ago

I agree. It is another "smoke and mirrors" game played by politicians in an election year.

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chinaberry25 1 year, 8 months ago

The auto workers can also draw off to their spouse and it is not up to the government to put money into their pension plans so they can continue to live high off the hog where the actual tax payers struggle. Politicians are all rogues and should be outed from office. The tea party of which I am not a member will keep us informed. GM said right on TV that they had paid back the monies. This was a lie, they too some other money and paid it back. This was also money given by Government. Let them file bankruptcy, better then than USA.

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Trustbuster 1 year, 8 months ago

Social Security is an entitlement program eventhough people have paid in. The current funding for this program is unsustainable. The dependency ratio is 3 workers paying in for one recepient. If no reforms are enacted within the next decade the program will become bankrupt. According the former comptroller, David Walker, congress has used the excess revenue to fund other federal projects. The Trustfund will not remain solvent long. As of today our federal govt. has $16 trillion debt and $70 trillion in liabilities. The liabilities include those who are paying into Social Security now but have yet to retire. These are workers below 55 years of age like myself. Most of our elected congressmen will not tell the truth. Social Security has been expanded beyond it original intentions.

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cfcarroll64 1 year, 8 months ago

We the working people paid this money in to enhance our retirement, yet it has enhanced the pockets of people that has never paid a penny in, so is going to suffer and in some cases already suffering. How can something we put money into be called an entitlement? Yes, we are entitled to what is already ours. What happened to the interest our money earned over the yrs, can anyone answer this?

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Trustbuster 1 year, 7 months ago

It's a ponzi scheme designed by politicians to enhance their reelection chances.

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RedEric 1 year, 7 months ago

It is NOT a Ponzi scheme. If you pay in 40 some years, you don't use up your contributions untill you are 93. Social security surplus was/ is being used to fund welfare. It also built the interstate system (partially). In its original configuration it would have been self funding by now due to the powers of compound interest. Politicians couldn't keep their hands out of the till. They knew they would be dead and gone before this mess came.

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Jimboob 1 year, 4 months ago

As long as the republicans refuse to allow income tax increases Social Security will be in danger. The republicans hate Social Security and have tried to kill it for decades. Sometimes the Social Security check is all older Americans have. Without it what would they do?

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