From a press release:
House Ways and Means Social Security Subcommittee Chairman Sam Johnson (R-TX) announced today that the Subcommittee will hold a hearing on “Understanding Social Security’s Solvency Challenge.” The hearing will focus on the difference between the Social Security solvency projections of the Congressional Budget Office and the Social Security Board of Trustees, the causes of the difference, and what this means for Social Security’s long-term solvency. The hearing will take place on Wednesday, September 21, 2016 in B-318 Rayburn House Office Building, beginning at 10:00 AM.
7 comments:
I'm waiting for Cong Sam Johnson to hold hearings on the "solvency challenge" for the military. The military isn't funded past the end of this fiscal year, yet no one is moaning about that. Everyone understands military funding is best described "where there is a will, there's a way".
For that matter, no other agency or private sector corporation is funded 75 years into the future.
SSA is right on target with projections. In 1983, us baby boomers started paying more FICA taxes, to provide for our social security retirement. The 1983 legislation, which passed with the full approval of Pres. Reagan, was intended to fully fund for 30 years -- and it did.
Here we are, 33 years later. An uptick in employment and, dare I say it, immigrant workers, would go a long way towards filling trust fund coffers. That, with a few adjustments in taxes, would solve the problem.
As hare-brained as it sounds, it seems they want to convince people that they should not expect to get Social Security or that it should slashed. If they ever succeeded they could cut the program without committing political suicide or so they think. Only problem is that the American people love their Social Security and hate congress. They are much more likely to vote out any congressperson stupid enough to try and cut Social Security than to accept their current snake oil sales pitch.
Chairman Johnson is your typical Republican. He complains about a problem, but fails to see that he is the problem. For all the years that he has been in charge, he has never put forward a MEANINGFUL proposal. He is all bluff and bluster.
Immigrants take more than they pay in.
@8:42 so do plenty of natural born American SSI recipients. What an ignorant thing to say.
9:29, that was a response to 11:29, who said immigrants would go a long way to solving the problem. Nothing ignorant at all, especially if you had read all of the posts. Rather ignorant to post without reading, right??
I've read all the posts and wish I could say you're ignorant, 7:31, but it's quite apparent you're actually intellectually disabled.
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