The Check Isn't In The Mail!!

You work hard, pay into Social Security...but guess what? You'll likely never see that money again unless something drastic is done soon.

You work hard, pay into Social Security...but guess what?  You'll likely never see that money again unless something drastic is done soon.

The alarm has been sounding for years and years and years about the Social Security Fund running out.  This is not new news.  But the situation appears to be dire. 

The nonpartisan Congressional Budget Office calculates that this year alone Social Security will collect 45 billion dollars less in payroll taxes than it pays out in benefits.   The CBO says the fund will continue to operate in deficit each year until it's drained.  That will happen in a mere 26-years...probably about the time I can retire!

Social Security was of course never intended to be the sole income for a retired person.  But it is money all working people pay, and in theory, they are expecting it to be there for them to supplement any other retirement funds, or even be their only source of money in their golden years.

So what can and should be done about all of this?  With all of the issues facing our country today, where do you put this one in terms of importance?  Do you think lawmakers are adequately addressing it? Will this make retirement impossible for you? Do you even care?

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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Sue Location: Pitt County on Feb 9, 2011 at 11:29 PM
    Whether SS is fine or not; whether you have a dog in the fight something needs to be done to make sure that the people that are having to pay into this fund receive the full benefits that they are entitled to. It's sad to listen to the folks that have reached retirement age and hear how little they really receive after contributing to this fund for 30,40 years or listen to the ones that have legitimate health issues that need those benefits to help support their families tell of how they have been denied assistance of this program, when others who have never contributed to the fund can walk in and get everything handed to them. Unless you're name is in the system, then verify the story you are given before handing out the checks.
  • by Lewis Location: Pitt County on Feb 8, 2011 at 05:31 PM
    SS would be fine if the sorry politicians hadn't put it in the general fund where they could steal it. If they had to go on SS I bet you it would get fixed in a hurry.
  • by Rusty Shackelford Location: Pitt County on Feb 7, 2011 at 02:08 PM
    A quote from Harry Reid: “No, this is something that’s perpetuated by people who don’t like government. Social security is fine, are there things we can do to improve social security? Of course, I’m not going to go to backdoor methods to whack social security. I’m not going to do that, we have a lot of things we can do with this debt. But one places I’m not going to be part of picking on is Social Security” Now how can you argue with that lol...
  • by lyn Location: martin county on Jan 31, 2011 at 02:47 AM
    originally SS was started and used only to pay to peopl who put in or their family upon death. Congress saw this pole of money they could not get their hands on and they decided to change the law. SS was added to the general fund. THIS is the main reason it is going broke. politicians have a way of destroying everything started with good intentions.
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