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  1. #1
    El Duderino GPIA7R's Avatar

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    When Medicare/Social Security become insolvent.

    Just curious what people think about survival/disaster in-relation to a major entitlement going away.

    News today:

    Government says Medicare will become insolvent in 2026, three years earlier than expected, Social Security to follow in 2034.
    Obviously, things could change by then... but if it happens, how do you think that will affect society?

    Will the young adults/adults be angry? Or perhaps they'll say "that's a long way until I'd need it..." and not care (and at that point... how effective would a senior be at causing a ruckus anyway...?)

    Or will the older adults reaching the age that they would benefit from it... be angry enough to demonstrate that anger? None of this should be coming as a surprise to anyone that pays attention... but you can be sure plenty of people will have relied on those entitlements and are not financially prepared for retirement. I don't have anything to base this on, but I'm guessing fiscal responsibility isn't huge on the minds of millenials.

    So... what do you think?

    A. Nothing to worry about. Daddy Gubment will fix it somehow, with some new entitlement, something different.
    B. People will riot in the streets!
    C. People will riot in the streets.... in 40 years!
    D. (Something different)

  2. #2
    I Care...Really
    churchmouse's Avatar

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    Quote Originally Posted by GPIA7R View Post
    Just curious what people think about survival/disaster in-relation to a major entitlement going away.

    News today:



    Obviously, things could change by then... but if it happens, how do you think that will affect society?

    Will the young adults/adults be angry? Or perhaps they'll say "that's a long way until I'd need it..." and not care (and at that point... how effective would a senior be at causing a ruckus anyway...?)

    Or will the older adults reaching the age that they would benefit from it... be angry enough to demonstrate that anger? None of this should be coming as a surprise to anyone that pays attention... but you can be sure plenty of people will have relied on those entitlements and are not financially prepared for retirement. I don't have anything to base this on, but I'm guessing fiscal responsibility isn't huge on the minds of millenials.

    So... what do you think?

    A. Nothing to worry about. Daddy Gubment will fix it somehow, with some new entitlement, something different.
    B. People will riot in the streets!
    C. People will riot in the streets.... in 40 years!
    D. (Something different)
    They need to put the stolen funds back into it. Nuff said.

  3. #3
    Marksman

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    That's when they will turn up the socialism.

  4. #4
    Expert d.kaufman's Avatar

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    First, i don't see Social security as an entitlement. Some do abuse the system thats for sure. Ive been paying into it for 30 years now. I wont be eligible till 2038. Guess im screwed, but i already knew that. There needs to be a way to recoup the money that people have been putting into it. One giant ponzi scheme! Actually surprised they've been able to carry the scheme this long.

  5. #5
    Grandmaster snorko's Avatar

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    AARP won't let it happen. And no one will be screaming about the thuggery of the most powerful lobby there is.

    SSI is at its core not horrible program. Keeping in mind the I stands for insurance, it has helped greatly reduce poverty among the elderly. But it was not meant to be your retirement alone. The age it kicked in, 65 yo, was approximately the average life expectancy when the system started. Thus it was intended for those who lived beyond the typical age. You are not "putting in" funds or investing. It is a tax. I suspect in the next decade or so they will:

    Increase the retirement age.

    Decrease the SSI income for those who have adequate retirement income.

    And set an income limit which if exceeded eliminates SSI for you.
    "If you are mad as hell and aren't gonna take it anymore, grab your rifle and head outside. If you're the only one with a rifle screaming like a maniac, go back inside. It isn't time yet"

    "I saw a movie once where only the police and military had guns. It was called Schindler's List."

  6. #6
    Master spencer rifle's Avatar

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    We do not figure SS into our retirement, since it will either be insignificant or gone. And that's less than 10 years from now. Besides, what good wil SS be when the currency goes kaput? Not if, when.
    Last edited by spencer rifle; 06-05-2018 at 17:25.
    Rights are only as secure as the ability to wield sufficient force to defend them. - J. Neil Schulman

    “There's nothing wrong with the country a bad recession couldn't fix.” - Irving Kristol

    "He's not a tame lion..."

    1 Samuel 13:19

    Psalm 149:6

  7. #7
    Grandmaster BehindBlueI's's Avatar

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    Insolvent doesn't mean disappear and benefits stop. SSI isn't going to declare bankruptcy.

    Read this: https://www.ssa.gov/policy/docs/ssb/...v70n3p111.html
    L'otters are not afraid.

  8. #8
    Marksman

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    2/3 of my retirement income is from government sources (SSI and military retirement). If my government income was reduced, I could probably survive at the subsistence level with careful planing. Medicare and Tricare for Life might be affected but hopefully the VA system will remain.

  9. #9
    Plinker

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    I don't see the older recipients rioting (no offense).
    I can easily see the younger (abusers) recipients of the system rioting. I'm talking about the PJ zombies that are "mentally disabled" and "Unable to work." If not outright riots, certainly increased brazen burglary and violence against the perceived 1%.

  10. #10
    Grandmaster eldirector's Avatar

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    a) My future assumes SSI, Medicare, etc... will not be available. That is all lost income from my perspective. A tax, not savings. I assume I will never see a dime.

    b) I also assume the .gov will just turn up the tax rate to make up for the "shortfall" (by shortfall, I mean theft), and all of the social/political fallout from that. Devalued dollar, inflation, high unemployment, a greater divide between the haves and the have-nots.

    So, do what you can now to insulate yourself from what may happen in 10, 15, or 20 years.
    Ryan "ElDirector"


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