What are the short term problems involved with social security?
I know that in the long run there will be fewer workers contributing to social security meaning in the future we will most likely receive less when we retire. But what short term problems are involved with social security? Are there any?
- Anonymous1 decade agoFavorite Answer
The SSA commissioner recently stated that there is enough money in the fund to cover every check for every person until 2041, EVEN IF NOT ANOTHER DIME IS ADDED.
Most people get far more out of SS than they ever put in.
Look at it yourself.
- Anonymous1 decade ago
People will never receive all that they have put into social security. Why doesn't the government take care of our senior citizens and give to them the money they paid into this program? If they didn't give so much money in welfare to non-deserving individuals, they could take care of the senior citizens.
I don't know why Pat believes everything she reads. My parents have worked since they were 12 years old. My father is now 83 years old. He gets less than $400 a month in social security benefits. He still has to work a full time job to make ends meet. He is in extremely good health for which I am thankful. Sometimes he has to pull a double shift and occasionally a triple shift. He has problems buying prescription medications because he can't afford them. Is this the way our senior citizens should be living? If there is enough money in the SS fund "to cover every check for every person until 2041 EVEN IF NOT ANOTHER DIME IS ADDED", then why are senior citizens living in these conditions?
- 1 decade ago
It doesn't have any money. NONE.
The "money in the accounts" is government bonds. It is EXACTLY as if you went to an ATM and took out ALL of your cash then deposited a check for the same amount written on the SAME ACCOUNT then went and spent all the cash.
Your "ledger balance" shows all your money is still there - right up until a human looks at the check and sees it's drawn on an account "filled" only with that same check.