Another media failure: everyone should know this stuff, but there isn’t really time. Ya’ know?

You know the endless and annoying hysterical script that goes like this:

  • OMG Social Security is a Ponzi scheme!
  • OMG it’s going broke!
  • OMG people live longer!
  • OMG fewer workers per retiree!
  • Et-freacking-cetera.

A little reality:

  • Social Security has run a surplus since it began
  • has a trust fund in the trillions
  • is completely sound for at least 25 more years
  • cannot legally borrow so cannot contribute to the deficit, and
  • life expectancy is a false issue; people today who reach 65 live about the same number of years as earlier generations. (Our stunning achievement in nearly defeating infant mortality is what changed  life expectancy figures.)

Try to memorize this – makes for great dinner table conversation.

via links at Bartcop which mostly go here

9 responses to “Another media failure: everyone should know this stuff, but there isn’t really time. Ya’ know?

  1. I beg to differ about “defeating infant mortality”. According to CIA statistics (why are they tracking this?), the US ranks 46th of 244 in infant mortality. Not a particularly good tho not bad record. The CEO of our local hospital attributes much of our lower rating (and high medical expenses) to theincreased use of fertility treatments and the resulting multiple births many of which are premature with the attending higher mortality rates (and expenses).

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    • I was much too generous in my language even though the difference in infant mortality comparing say 2000 to 1935 is a big factor. But so are anitbiotics and trauma medicine and vaccines and new cures. So, yeah, my language was much too generous.

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  2. Pingback: Another media failure: everyone should know this stuff, but there isn’t really time. Ya’ know?…Whatever Works - Politicaldog101.Com

  3. Social Security is working fine, with some exceptions.

    The main problem with social security, Moe, is the number of fraudulent claims. I am of course referring to Supplemental Income.

    The amount of people applying for (and receiving) SSI that should not be eligible is sad. I propose that they get up off their ass and work like the rest of us. I propose government programs to ensure work and ultimately financial independence for the mentally challenged.

    And then to think that you have people in their 50s that can hardly walk that are denied early SS.

    I do think that some type of reform is necessary if we want to protect the future of Social Security.

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    • Sam, fraud is everywhere – that’s why we have laws and police and courts.
      SS isn’t the problem – not enforcing laws already on the books is the problem and we won’t solve it via SS itself. It’s really a criminal matter.

      But you’re right – reform is necessary. My favorite reform is raising the wage cap. Right now, anyone making up to about $100K pays payroll taxes on every penny. People making over that – even if their salary is $700K – only pay payroll taxs on the first $100K. That sucks. You and I pay on 100%. Those guys pay on 20%?, 30%?. Not right.

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      • You are right, Moe. It is all about the rich in this country. Anyone with even a laymen’s understanding knows that.

        What has always gotten me, and still does, is why the hell people can’t see through the politicians whose constituents would have us in the bread line. I am talking about people like Rick Perry and G.W, and 90%+ of the GOP. Their meal ticket is religion. People had rather starve and put the “christian” in office, rather than vote according to their real interests.

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  4. Reality based people can be so annoying to the far right…..
    you’re gonna make them party with tea again!

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  5. Thanks for the reminder. I’m getting tired of hearing about just how URGENT it is to privatize SS, now! I wonder who’s waiting to get their hands on that money….

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