If only it were that simple. A SUMMARY OF THE 2011 ANNUAL REPORTS Social Security and Medicare Boards of Trustees http://www.ssa.gov/oact/trsum/index.html
The report is after the fact, after the theft has already occurred. Sure, it's complicated now that the money is gone. Had they not embezzled it there would be trillions in surplus. It was and still could be very simple. Use the social security fund to pay social security benefits and nothing else. Quit stealing the fucking money! How hard is that? Apparently impossible, which comes as no surprise considering we are governed by thieves. http://www.seniorjournal.com/NEWS/SocialSecurity/5-03-21SSFundsSpent.htm
Oh please. The 2011 Trustees' Report is a lot more recent, comprehensive and authoritative than your link from 2005 which covers only a few things about Social Security with Smith as the only source. Demographic trends will be the primary driver of cost growth for entitlements and your claim that Social Security and Medicare "have nothing to do with the debt problem" is nonsense.
If I'm not mistaken 2010 US Federal Tax Receipts for Social Security and Social Insurance were $865B. Payouts for Social Security and Medicare/Medicaid were 701B and 793B respectively, combined 43% of the Budget. With the Baby Boomer generation about to hit, these programs will be unsustainable in their current condition. The past is the past and irrelevant, both sides want to point fingers and blame each other, regardless of who's fault it is, here we are, fiscally bankrupt as a nation. It has to stop here and now.
Never fails to amaze me how you repub apologists will minimize the part your buddies have played in creating this mess. We ain't where we're at because of social security, medicare, unions, or any other of the bullshit you guys are trying to spin. We've been robbed, financially raped by the boyz in congress and you continue to blame the victims. I seriously believe all you repub apologists are suffering from Stockholm Syndrome.
Yes, they're unsustainable in their current condition. That condition is the fund is robbed to pay for all the other bullshit our political buddies can come up with. Stop stealing the money and the problem is solved. Of course they can't stop robbing the fund because it's that fund which pays for everything else. Tax breaks are and have been paid for with this fund. So have the wars. On and on, this fund has been hi-jacked over the years to pay for everything else. Now it's time for the SSN fund to pay those millions who have paid into it and oops, no money. So the repub solution is to not pay those who paid into it and continue to fund the tax breaks with SSN money. Nice scam! The shell game continues.
What part of "demographic trends will be the primary driver of cost growth for entitlements" don't you understand? Why don't you try reading things like the 2011 Trustees' Report and Simpson-Bowles instead of populist propaganda. Or are those also part of the vast conspiracy of the "financial terrorists?"
Has there ever been anyone who's lost any form of retirement benefits due to insolvency of a business or corporation? It doesn't matter who's robbed the treasury, if there's no money? With what will you pay out? All that being said, I haven't heard anyone say don't pay those who paid for it. However benefits levels currently in place can't be maintained, so everyone gets a haircut. Make no mistake everyone will take this in the backside at some level, but the reality of not taking action is worse down the road. Every American Tax Paying Citizen, needs to understand and demand accountability from their elected officials, voter apathy is as much to blame, I guess when it finally hits home people will take notice and act. Just stumbled across this thread, Meet Rick. Listen. http://www.elitetrader.com/vb/showthread.php?s=&threadid=223323
P.S. Our entitlement programs will collapse under their own weight as currently structured -- even if no "stealing" had occurred -- for the simple reason that they're Ponzi schemes where beneficiaries take out a lot more than they pay in and demographics are becoming increasingly unfavorable for the scam.