Who can we blame?

[Alias Detective 1,396]

https://www.marketwatch.com/story/social-securitys-leaders-are-failing-us-59a519ee?mod=home-page

 

Data from the Social Security Administration’s trustees show that during 2023 the fund missed out on most of the year’s investment gains, costing America’s working stiffs hundreds of billions of dollars’ worth of lost returns.

[jonmx 2,429]

It is 100 percent on the people.  Why we keep giving up our freedoms and giving the federal government the authority to abuse us with zero recourse is the stupidest idiotic mistake in the history of the world.  We are entrusting a bunch of power-hungry bureaucrats and ultra-wealthy elitists the authority to fck up our lives.   They do no give a crap about individuals.   Our servants are becoming our masters and there is not a damn thing we can do.   Biden has his foot to the floor and is getting us there faster than ever.   

Wake the fck up people.  An unchecked all-powerful federal government is not our friend.   The awesome principles of individual freedom, independance, equality and fairness this country were founded on are being given away so we can become surfs again.  We were given a great gift never before tried and we are crapping away the greatest most successful experiment of all-time.

[Alias Detective 1,396]

It’s easy, just raise taxes or forgo the benefits. .  To hell with actually managing our money correctly.

[Hardcore troubadour 15,317]

The baby boomers, somehow, are still in charge. They got theirs and don’t GAF. The rest of us are focked. And remember, they paid in at a lower rate , half, for much of their working life and got full retirement at 62. You get to pay the full boat forever and have to wait to get full retirement.  The worst generation. 

[weepaws 3,173]

1 hour ago, jonmx said:

It is 100 percent on the people.  Why we keep giving up our freedoms and giving the federal government the authority to abuse us with zero recourse is the stupidest idiotic mistake in the history of the world.  We are entrusting a bunch of power-hungry bureaucrats and ultra-wealthy elitists the authority to fck up our lives.   They do no give a crap about individuals.   Our servants are becoming our masters and there is not a damn thing we can do.   Biden has his foot to the floor and is getting us there faster than ever.   

Wake the fck up people.  An unchecked all-powerful federal government is not our friend.   The awesome principles of individual freedom, independance, equality and fairness this country were founded on are being given away so we can become surfs again.  We were given a great gift never before tried and we are crapping away the greatest most successful experiment of all-time.

It’s not just biden, it’s the government plan run this country into the ground, it’s the red blazers and the blue blazers.  

But we keep fighting for are right to elect them to keep doing so.  

[Alias Detective 1,396]

20 minutes ago, Hardcore troubadour said:

The baby boomers, somehow, are still in charge. They got theirs and don’t GAF. The rest of us are focked. And remember, they paid in at a lower rate , half, for much of their working life and got full retirement at 62. You get to pay the full boat forever and have to wait to get full retirement.  The worst generation. 

Many, who were in Vietnam,  act like they are owed the world.  I am not in to disparaging military but many I’ve come across act like  “ we” should kiss their ass.

[Hardcore troubadour 15,317]

2 minutes ago, Alias Detective said:

Many, who were in Vietnam,  act like they are owed the world.  I am not in to disparaging military but many I’ve come across act like  “ we” should kiss their ass.

I’ll give them a pass. But the rest of them? Outside of personal tragedy, what didn’t work out for the bulk of that generation? Cheap houses that ballooned in value, the kids they put through college didn’t cost them a fortune, stock market, cheap energy and on and on. Think they care about the future? Obviously not. 

[League Champion 1,909]

7 minutes ago, Alias Detective said:

Many, who were in Vietnam,  act like they are owed the world.  I am not in to disparaging military but many I’ve come across act like  “ we” should kiss their ass.

I'm former Military and I don't see that at all. In fact most Vietnam Vets will never tell you they were in Vietnam, they aren't proud. 

[Alias Detective 1,396]

5 minutes ago, League Champion said:

I'm former Military and I don't see that at all. In fact most Vietnam Vets will never tell you they were in Vietnam, they aren't proud. 

Thank you.  I guess the ones who still wear the hats and fatigues aren’t the majority.  I will stand corrected.

[weepaws 3,173]

10 minutes ago, League Champion said:

I'm former Military and I don't see that at all. In fact most Vietnam Vets will never tell you they were in Vietnam, they aren't proud. 

Hats, Shirts, license plates, jackets , I’ve seen many people advertise that they served in Vietnam.  

[jonmx 2,429]

39 minutes ago, weepaws said:

It’s not just biden, it’s the government plan run this country into the ground, it’s the red blazers and the blue blazers.  

But we keep fighting for are right to elect them to keep doing so.  

 

Of course it is not just Biden.   Biden is just a pawn, but he is in so deep of sheit he has to keep doing whatever they want.  Most our presidents are just pawns or useful idiots.   Kennedy, Reagan, and Trump were the only ones to try to stand up to the Washington establishment power grab.  

[weepaws 3,173]

43 minutes ago, jonmx said:

 

Of course it is not just Biden.   Biden is just a pawn, but he is in so deep of sheit he has to keep doing whatever they want.  Most our presidents are just pawns or useful idiots.   Kennedy, Reagan, and Trump were the only ones to try to stand up to the Washington establishment power grab.  

Based on what you just said, biden isn’t in it that deep, the government is, and they just don’t give a sheit, so let’s stop blaming the pawn , and let’s start blaming the King= government.  Red blazers and the Blue same team.  

[jonmx 2,429]

Just now, weepaws said:

Based on what you just said, biden isn’t in it that deep, the government is, and they just don’t give a sheit, so let’s stop blaming the pawn , and let’s start blaming the King= government.  Red blazers and the Blue same team.  

 

Those who support the establishment are to blame, regardless of what color team they are on.   Biden owes everything he has to the establishment.  The estsblishment has all the goods on Biden's massive corruption and Biden's only response to the establisbments wishes is how high.   Biden is to blame because he sold his soul to it.  The only ones trying to fight it are currently on team Red,  but there are a lot of turncoat from within team Red.  Moderates, Democrats, and establishment Republicans are all taking us down.

[RaiderHaters Revenge 4,325]

But if you want government spending reform you are a racist conspiracy mysoginist homophobe Putin puppet or something

[The Real timschochet 6,695]

6 minutes ago, RaiderHaters Revenge said:

But if you want government spending reform you are a racist conspiracy mysoginist homophobe Putin puppet or something

Hmm. I would like government spending reform. 

[Ron_Artest 1,378]

8 minutes ago, The Real timschochet said:

Hmm. I would like government spending reform. 

Me too.

It's funny to see the cultists repeat the lie that trump wants govt spending reform considering what he did in his first term

[Tree of Knowledge 1,821]

I bet you the money managers made lots of money and secured huge bonuses regardless of performance. We saw that with pension plans in our state.  

[RaiderHaters Revenge 4,325]

23 minutes ago, Ron_Artest said:

Me too.

It's funny to see the cultists repeat the lie that trump wants govt spending reform considering what he did in his first term

its funny I didnt mention trump but TDS got the best of you

 

[RaiderHaters Revenge 4,325]

33 minutes ago, The Real timschochet said:

Hmm. I would like government spending reform. 

no you wouldn't cause that would include completely blowing up the social security system

[Pimpadeaux 2,405]

2 hours ago, Alias Detective said:

Many, who were in Vietnam,  act like they are owed the world.  I am not in to disparaging military but many I’ve come across act like  “ we” should kiss their ass.

Police and firefighters have been the same way after Sept. 11.

[RaiderHaters Revenge 4,325]

Just now, Pimpadeaux said:

Police and firefighters have been the same way after Sept. 11.

fry cooks will have their day, don't worry

[Hardcore troubadour 15,317]

1 minute ago, Pimpadeaux said:

Police and firefighters have been the same way after Sept. 11.

Much truth to this. 

[IGotWorms 4,057]

Nobody, really. It’s a stupid article.

Social security is a defined benefit plan, not a defined contribution plan like a 401k.

It opts for stability vs chasing large stock market returns. It has to do this, because it provides a certain (defined) benefit, which is not possible when there is a market collapse, if it’s invested primarily in stocks.

You guys really should educate yourselves before getting worked up over things you don’t understand  

[Pimpadeaux 2,405]

Just now, Hardcore troubadour said:

Much truth to this. 

And that wasn't a jab at you. That's directed at the ones even in small towns far away from New York City. They bring up Sept. 11 when whining about their pay and benefits. 

[Hardcore troubadour 15,317]

Social security is what, 25k a year for retirees? Are we really to believe that the ones holding the power GAF about 25 k a year? Most of congress are multi millionaires, and the ones that control them are billionaires. It’s not, as they say, top of mind. 

[Pimpadeaux 2,405]

4 minutes ago, IGotWorms said:

Nobody, really. It’s a stupid article.

Social security is a defined benefit plan, not a defined contribution plan like a 401k.

It opts for stability vs chasing large stock market returns. It has to do this, because it provides a certain (defined) benefit, which is not possible when there is a market collapse, if it’s invested primarily in stocks.

You guys really should educate yourselves before getting worked up over things you don’t understand  

A combination of three things likely will happen down the road:

1.) Raise the minimum age to collect benefits.

2.) Cut off benefits to the wealthy.

3.) Raise taxes.

 

[Hardcore troubadour 15,317]

Just now, Pimpadeaux said:

And that wasn't a jab at you. That's directed at the ones even in small towns far away from New York City. They bring up Sept. 11 when whining about their pay and benefits. 

When I was working down there the months after 9/11 the song that kept playing in my head was Celluloid Heroes by the Kinks. “Everybody’s a star…” 

[Fnord 2,225]

5 minutes ago, Hardcore troubadour said:

Social security is what, 25k a year for retirees? Are we really to believe that the ones holding the power GAF about 25 k a year? Most of congress are multi millionaires, and the ones that control them are billionaires. It’s not, as they say, top of mind. 

Agreed. Lip service to it will be top of mind soon, though as we enter the election year.

[weepaws 3,173]

55 minutes ago, jonmx said:

 

Those who support the establishment are to blame, regardless of what color team they are on.   Biden owes everything he has to the establishment.  The estsblishment has all the goods on Biden's massive corruption and Biden's only response to the establisbments wishes is how high.   Biden is to blame because he sold his soul to it.  The only ones trying to fight it are currently on team Red,  but there are a lot of turncoat from within team Red.  Moderates, Democrats, and establishment Republicans are all taking us down.

Americans support the establishment, and they keep fighting to keep it the same.  The Red team , and Blue team do things differently, but same goal, to destroy this country.  

[weepaws 3,173]

27 minutes ago, Tree of Knowledge said:

I bet you the money managers made lots of money and secured huge bonuses regardless of performance. We saw that with pension plans in our state.  

Always the case.  

[Fnord 2,225]

14 minutes ago, RaiderHaters Revenge said:

no you wouldn't cause that would include completely blowing up the social security system

It wouldn't have to if any of our politicians had the balls to take on DoD spending and the pentagon. Wanna find giant abuses and fraud? Start there. They won't even allow an audit because of the complexity of the money trails.

[weepaws 3,173]

2 minutes ago, Fnord said:

It wouldn't have to if any of our politicians had the balls to take on DoD spending and the pentagon. Wanna find giant abuses and fraud? Start there. They won't even allow an audit because of the complexity of the money trails.

Agree, any political party.  

[Hardcore troubadour 15,317]

5 minutes ago, Fnord said:

Agreed. Lip service to it will be top of mind soon, though as we enter the election year.

At some point they will fix it. Or plug the hole for a little bit. But bet your ass it will be our kids that get focked, to a larger degree than we will. 

[Baker Boy 1,698]

16 minutes ago, IGotWorms said:

Nobody, really. It’s a stupid article.

Social security is a defined benefit plan, not a defined contribution plan like a 401k.

It opts for stability vs chasing large stock market returns. It has to do this, because it provides a certain (defined) benefit, which is not possible when there is a market collapse, if it’s invested primarily in stocks.

You guys really should educate yourselves before getting worked up over things you don’t understand  

why do you think the government is more qualified to invest my money than I am? I need the government to get out of my life.

Data from the Social Security Administration's trustees show that during 2023 the fund missed out on most of the year's investment gains, costing America's working stiffs hundreds of billions of dollars' worth of lost returns.

Social Security had a disastrous 2023. Here's why. | Morningstar

 

www.morningstar.com/news/marketwatch/20231229218/social-security-had

[Pimpadeaux 2,405]

4 minutes ago, Hardcore troubadour said:

When I was working down there the months after 9/11 the song that kept playing in my head was Celluloid Heroes by the Kinks. “Everybody’s a star…” 

I'd like to know more about this. Too bad you weren't around here for the 9/11 thread, perhaps the greatest in forum history. I was fresh to the mange board and didn't wander over here until early 2002, but I read that thread, which I believe fell victim to the Latin Pimp hack. 

So chilling to read how the thread unfolded, with so many in that area at the time. 

One of my biggest journalism regrets was the front page the next day. I wish I had used the photo of the firefighters raising the flag instead of an image of the burning towers. And the headline sucked. 

[Hardcore troubadour 15,317]

3 minutes ago, Pimpadeaux said:

I'd like to know more about this. Too bad you weren't around here for the 9/11 thread, perhaps the greatest in forum history. I was fresh to the mange board and didn't wander over here until early 2002, but I read that thread, which I believe fell victim to the Latin Pimp hack. 

So chilling to read how the thread unfolded, with so many in that area at the time. 

One of my biggest journalism regrets was the front page the next day. I wish I had used the photo of the firefighters raising the flag instead of an image of the burning towers. And the headline sucked. 

I committed no acts of heroism surrounding that event. I did suck in a lot of toxins though. And I’m still not happy about it. The fire department punked Guilliani when he was going to pull everyone out until it was safer to do the recovery a few weeks after.  And Christie Todd Whitman saying the air was safe. No it wasn’t. As soon as you got there you knew it wasn’t, and for a long time afterwards. 

[IGotWorms 4,057]

21 minutes ago, Pimpadeaux said:

A combination of three things likely will happen down the road:

1.) Raise the minimum age to collect benefits.

2.) Cut off benefits to the wealthy.

3.) Raise taxes.

 

1 yes, but not 2 and not exactly 3.

Everyone gets benefits, that’s the point of the system. Yes even the rich. Maybe they’re dumb and squander their whole fortune in or before retirement, they still have SS to fall back on. That’s the point.

As for raising taxes, I’d say that’s a bit of a misnomer. All they have to do is raise the cap at which you stop paying FICA taxes. I don’t think there should be a cap at all, in fact. Do that and raise the age to 67/68 and you’re golden, problem entirely solved

But I don’t actually like the idea of raising the retirement age. It probably has to happen since people are mostly living longer (though longevity is actually falling a bit in the US right now due to suicides and ODs). The problem is just because you live longer doesn’t mean you can work longer. Especially in physical labor, but even in office jobs people simply won’t hire you after a certain point. So I think that’s going to be a weak point in the system but hopefully they can fill that in with SSD or the like

[Fnord 2,225]

10 minutes ago, Hardcore troubadour said:

At some point they will fix it. Or plug the hole for a little bit. But bet your ass it will be our kids that get focked, to a larger degree than we will. 

Yup. Luckily we're taking the time to teach them about money and saving. Unlike my boomer parents. 

[IGotWorms 4,057]

9 minutes ago, Baker Boy said:

why do you think the government is more qualified to invest my money than I am? I need the government to get out of my life.

Data from the Social Security Administration's trustees show that during 2023 the fund missed out on most of the year's investment gains, costing America's working stiffs hundreds of billions of dollars' worth of lost returns.

Social Security had a disastrous 2023. Here's why. | Morningstar

 

www.morningstar.com/news/marketwatch/20231229218/social-security-had

Again, you appear not to understand either the purpose or operation of a defined benefit plan. It is not to maximize returns. It is to invest VERY safely and ensure there are no huge losses

[Alias Detective 1,396]

4 hours ago, Alias Detective said:

https://www.marketwatch.com/story/social-securitys-leaders-are-failing-us-59a519ee?mod=home-page

 

Data from the Social Security Administration’s trustees show that during 2023 the fund missed out on most of the year’s investment gains, costing America’s working stiffs hundreds of billions of dollars’ worth of lost returns.

 

10 minutes ago, Baker Boy said:

why do you think the government is more qualified to invest my money than I am? I need the government to get out of my life.

Data from the Social Security Administration's trustees show that during 2023 the fund missed out on most of the year's investment gains, costing America's working stiffs hundreds of billions of dollars' worth of lost returns.

Social Security had a disastrous 2023. Here's why. | Morningstar

 

www.morningstar.com/news/marketwatch/20231229218/social-security-had

Really?