Wednesday, July 22, 2015

Social Security Disability Trust Fund (electrons) to "run dry" in 2016 accordig to a report


You know this will end up resulting in cuts to disabled workers. Even though these payments amount to nothing more than the government "marking up" bank accounts (electronic bookkeeping entries--electrons), our leaders will ensure that a mini-catastrophe will happen.

In a report Wednesday, the trustees that oversee Social Security said the disability trust fund will run out of money in 2016, right in the middle of a presidential campaign.
That would trigger an automatic 19 percent cut in benefits. Read here.

So, for sure, there will be cuts one way or another. Either straight cuts of 19 percent to people receiving disability or, the money will be taken from the Social  Security trust fund, but only after big changes (read: cuts) to this program are rammed through.

Never mind that the government "paid back" $68 TRILLION last year without a hitch. (See Daily Treasury Statement Table III-A), we still won't "have the money" to make these social payments.

This will be like the debt ceiling crises we've had in the past only this time Congress will screw these wretched disabled people.

With the debt ceiling they were scared shitless of the Chinese.

2 comments:

Dan Lynch said...

Well said, Mike.

Unknown said...

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