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Economy |
SSDI could run out of money in as little as 4 years |
2011-03-22 |
![]() The SSDI is set to soon become the first big federal benefit program to run out of cash--and one of the main reasons is U.S. states and territories have a large say in who qualifies for the federally funded program. Without changes, the Social Security retirement fund can survive intact through about 2040 and Medicare through 2029. The disability fund, however, will run dry in four to seven years without federal intervention, government auditors say. What was it said about democracies? They only last until the public realizes they can vote themselves helpings of the treasury. |
Posted by:DarthVader |
#2 I continue to be flabbergasted that anyone in the US can actually believe that the goverment should be sending checks to more than the poorest 2-3% of the population. Everyone else? By definition not desperately poor. |
Posted by: AzCat 2011-03-22 21:42 |
#1 I continue to be flabbergasted that no one really sees the amount of fraud in SSDI, Medicare, basic Social Security, food stamps, student loans, etc. As we hear Washington talk about the cuts to discretionary budgets, and how thats only about 15-20 percent of the size of federal budget, no one talks about how perhaps 15-25% of the entitlement programs are fraud, and the savings that could be accrued merely by ending it. Not even punishment, merely cessation of fraudulenty obtained entitlements. We are talking hundreds of billions of dollars. For example, in the Central Valley of California, there are convenience stores that have shelf stockage of a few groceries, no more than 3-4k in value, with little obvious product movement, that do 2-300k a month in food stamps. (Going rate is around 50 cents on the dollar I'm told). I cannot help but think that it is fear of the screams of those thieves who are caught and cut off that stops politicians from going down this path. Can the reason be the possible overwhelming demographic of those found cheating? Honestly, I cannot think of another inhibiting factor that prevents this easy fix. Anyone? |
Posted by: NoMoreBS 2011-03-22 15:12 |