New House Speaker Had Proposed Trillions in Cuts to Social Security and Medicare

[kgmom219]

One thing that can be done is to continue Social Security tax beyond the $160,200 limit. No brainer.

THIS.

Makes me nutty.

 

[axeman462]

THIS.

Makes me nutty.

while that may help some, it is not enough. Cuts still will need to be made, or we inflate our way out of this mess. Either way, pain is due. the only question is when?

 

[Lee Vena]

So no answer. I get it

Speechman, think of it from a different perspective. Social programs and socialism are great, until you run out of the other guys money.

 

[Russ]

THIS.

Makes me nutty.

You think it's a good idea or not?

 

[kgmom219]

You think it's a good idea or not?

100% yes. Raise the damn thing.

But I also think we should increase the HSA max and stop limiting how much people can get on SS at age 70. And get rid of the RMD crapola, too

 

[wehotex]

Yet there is always enough for Ukra

One thing that can be done is to continue Social Security tax beyond the $160,200 limit. No brainer.

If you do that, Social Security becomes yet another welfare program. The first thing that the Congress should do is kick all of legal immigrants off who didn't work all of their lives here (plus SSI and Medicaid) and INCREASE the amount of quarters needed to receive the benefits for Everyone except disabled. 10 years of work is crazy ridiculous to get a benefit.

 

[Fisher]

100% yes. Raise the damn thing.

--And get rid of the RMD crapola, too

I believe this qualifies as a 'contradiction'.

 

[vic120]

In a nutshell, I'm not here to teach economics classes:

the country cannot afford to continue spending the way it does.
The two main drivers of spending on the federal level are healthcare (Medicare and Medicaid) and Social Security.

The country already has a debt-to-GDP ratio of 120%, it is unsustainable. If the debt is not taken into a more controllable level soon (define soon however you want), buyers of our debt (investors, banks, and other countries) will eventually stop. Ths will cause yeilds to spike, bank runs, economic recessions, markets to fall, unemployment to rise etc..
Eventually the buyer of last resort will have to be the Federal Reserve.

This can/will lead to one of two scenarios:

1) Austerity.

2) Inflate our way out.

wait are you saying you might need to be carful if you are running up dept higher and higher, to keep your lifestyle in your household, when your income is dropping to lower then 50% of previous income

or you might go into default and lose your home?

Come on that cant be true

that is just conspiracy scare tactics

 

[axeman462]

wait are you saying you might need to be carful if you are running up dept higher and higher, to keep your lifestyle in your household, when your income is dropping to lower then 50% of previous income

or you might go into default and lose your home?

Come on that cant be true

that is just conspiracy scare tactics

Lol nah...

 

[vic120]

Lol nah...

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ahh that more loving of you